Have the promises of Industry 4.0 been fulfilled? A meta-analysis of Industry 4.0 solution outcomes in SMEs

Over the last ten years, Industry 4.0 has evolved from a conceptual framework to a widely adopted paradigm across industry and production management research. Early studies primarily focused on defining its scope, while recent work has emphasized empirical validation through laboratory experiments and case studies, including within Small and Medium Enterprises (SMEs). Despite the proliferation of proposed methods and technologies, comparative evidence on their effectiveness remains limited. This paper addresses this gap by conducting a meta-analysis of studies reporting the quantitative impacts of Industry 4.0 solutions on the processes and organisational performance of manufacturing SMEs. The objectives are twofold: (i) to assess the effectiveness of Industry 4.0 solutions in improving SME performance, and (ii) to identify which specific methods or technologies yield the most significant benefits. Findings indicate that Industry 4.0 solutions can enhance SMEs’ performance outcomes; however, observed effects are generally small and, in some cases, negligible. These findings suggest that the adoption of Industry 4.0 practices should not be confined to the implementation of isolated transformational projects, but rather be conceived as an iterative process aimed at the continuous improvement of SMEs' performance over the long term.