Nanotechnology has received substantial attention since the concept of dispersing nanoparticles into a base fluid was first introduced in the later part of the 20thcentury. This is evident from the increased number of investigations and pilot experiments related to this field. The in-deep attention to its resulting fluids (a-k-a nanofluids) is primarily due to their enhanced thermophysical properties alongside their ability to be incorporated into a wide range of industrial applications. Therewith, and despite the benefits of this innovative technology, there is a need for a holistic review of the strategies and steps concerning their application in various devices. This should be provided from the preparation process of nanoscale particles (e.g., pilot-synthesis, characterization, and stability measurements) to the applied boundary conditions, which remains a difficult challenge. Sequence to this, our oral presentation aims to update researchers on the recent progress of this technology while highlighting the challenges and the future of advanced strategies for the next-generation of industrial devices, such as solar collectors, heat exchangers, refrigeration systems, radiators, and storage systems. A summary of the merits and demerits of this advanced technology will be deeply discussed besides some recommendations of experts for future investigations. This would broaden the open literature and applicability of these strategies in the industry of tomorrow.