From general competition between the world powers, the concept of Industry 4.0 was realized as a result of development in the last 20 to 30 years in the field of robotics, artificial intelligence, development of memory and process chips, sensors, machine tool flexibility, accelerated internet development (4G, now 5G). It can be said that this is not a revolution, but a logical, evolutionary and accelerated development of the above-mentioned areas. A historical overview, with the main features of Industrial Revolution, is given. Then, the advantages and disadvantages of Industry 4.0 were discussed. Special attention, based on the available literature, is paid to the possibilities of application of Industry 4.0 in Croatia. Accordingly, classification of Croatian industry with regard to the number of employees, the National Work Classification, the share of revenues of individual industries and the shares of individual branches in the manufacturing industry according to total revenue is given. As one of the preconditions for the application of Industry 4.0, the DESI comparison of social and economic digitizations by EU member states and the result of the DESI 2020 survey by categories were considered. Then, the preconditions for the application of Industry 4.0 in Croatia were discussed. The Industry 4.0 Readiness Coefficient was used as a possible exact indicator of the possibility of implementing the Industry 4.0 concept. As examples of the method for estimating the Readiness Coefficient, the methods IMPULSE, AHP, SIRI are presented and considered with the support of the assessment of independent assessors. The expected problems with the introduction of the Industry 4.0 concept and the consideration of possible strategies for the introduction of the Industry 4.0 concept in the considered company and beyond at the level of the Republic of Croatia are stated.