The visionary approach to technologies research and development is becoming increasingly important at this time. The visionary models reflect the technical and organizational level of modern industry, information technologies, and control and management systems, methods of services providing. All of these models focus on the use of software, smart technologies and the Internet. A number of such concepts (initiatives) have already been developed at this time; the most significant are discussed in this report. In our opinion, the most elaborate and highly debated concept, reflecting the current level of industry, information technologies, and control and management systems, methods of services providing, at this moment is the Industry 4.0 concept. This report is mainly devoted to the development of a functional basis for Industry 4.0 concept as the vision of the Smart Factory concept.