The current global manufacturing landscape is fast changing with growing worldwide demand for better, more innovative, value added and satisfying products. Therefore, industrial and manufacturing system must rise to meet these challenges and fulfil the appetite of consumers worldwide for the products efficiently. Manufacturing industries value creation must be geared towards higher efficiency and productivity. Industry 4.0 sets about bringing manufacturing capabilities to the next level, the fourth stage of the industrial revolution. This paper reviews the literature available on the Industry 4.0 (Industrie 4.0) initiative and sets out to identify the highly cited papers examples. Later, a review of the impact of Industry 4.0 technologies on Lean Manufacturing effectiveness, in particular, the elimination of different wastes was also presented. It is clearly established from this review and assessment exercise that there are much potential for Industry 4.0 environment to further improve the effectiveness of Lean Manufacturing initiatives to drive efficiency and productivity better.