Industry 4.0 is an emerging area for Small Medium Sized Enterprises (SME) while international companies have already adopted Industry 4.0 and practicing its technologies to stay competitive and expand their market shares. This research paper aims to conduct a systematic literature review of currently available SME readiness models to adopt Industry 4.0 technologies. The study shows that SMEs’ readiness models are not fully validated, there is lack of benchmark and not enough survey to compare SMEs’ technology maturity whereas readiness models for large companies like IMPULS or a model developed by PricewaterhouseCoopers offer a self-check online model providing with a feedback based on a benchmark conducted on 200+ and 2000+ companies respectively.