This paper analysed the specific features of the gap between the university education market and the work market, which change under the influence of the Fourth Industrial Revolution and involve the reduction of the vertical gap but an increase in the horizontal gap. Directions for overcoming the "gap" through the integration of efforts of all interested parties, including developers of leading technologies, were offered. This research is based on the interdisciplinary scientific framework, which describes the features of the educational and labour processes in the context of the development of Industry 4.0. Focusing on the transformation of the system of education and the labour market under the impact of the Fourth Industrial Revolution, this study considered possible options for bridging the gap between them. Theoretical aspects of the transformation of the labour market under the influence of technological changes, connected with the Fourth Industrial Revolution, were studied, and the specifics of adaptation of the higher education system to new realities were identified. An increase in demand for skilled personnel was noted. This will positively influence the resolution of the problem of the vertical gap between education and the work market, as well as the growth of the horizontal gap through the quick development of technologies and dynamic change in requirements for a job. The significance of this research consists in the visualisation of the difference between the rates of technological changes and the rates of changes in the labour market's requirements and higher education's capabilities. [For the complete volume, "Bridging the Gap between the Higher Education and Labor Markets: Relevance of the Fourth Industrial Revolution. Education in the Asia-Pacific Region: Issues, Concerns and Prospects. Volume 73," see ED676039.]