-In last the decade, Molybdenum-di-sulphide (MoS2) based field effect transistors (FETs) combined with the advancements in integrated circuit (IC) technology have found versatile applications ranging from detection of nano-metric biomolecules to high performance computing. Compared to conventional Silicon and its derivatives based devices, transistors realized with MoS2 depict better characteristics due to high ION/IOFF ratio, low power consumption, relatively better sub-threshold swing (SS), non-zero bandgap, flexibility to cite a few. Aforemen-tioned parameters make MoS2 transistor technology not only suitable for realizing low power, high performance electronics systems but also sensing modules for detecting various physical, chemical and biological entities and displays. In recent times, numerous researchers have reported the potential of MoS2 transistor technology for wide applications. In this work, we critically review the recent advancements in the field of MoS2 transistor technology focussing on MoS2 as channel material. Further, MoS2 transistor operation for various configurations along with their IV characteristics is discussed in depth. Apart from MoS2 transistor operation, the wide range of applications of MoS2 transistor technology along with its limitations that restricts its performance is elucidated. In addition, this article also explains about the various challenges in engineering MoS2 transistors as a futuristic technology. This review articles will serve as a guideline for device engineers to better understand the MoS2 transistor technology.