Metal nanowire (MNW)‐based transparent electrode technologies have significantly matured over the last decade to become a prominent low‐cost alternative to indium tin oxide (ITO). Beyond reaching the same level of performance as ITO, MNW networks offer additional advantages including flexibility and low materials cost. To facilitate adoption of MNW networks as a replacement to ITO, they must overcome their inherent stability issues while maintaining their properties and cost‐effectiveness. Herein, the fundamental failure mechanisms of MNW networks are discussed in detail. Recent strategies to computationally model MNWs from the nano‐ to macroscale and suggest future work to capture dynamic failure to unravel mechanisms that account for convolution of the failure modes are highlighted. Strategies to characterize MNW network failure in situ and postmortem are also discussed. In addition, recent work about improving the stability of MNW networks via encapsulation is discussed. Lastly, a perspective is given on how to frame the requirements of MNW‐encapsulant hybrids with reference to their target applications, namely: solar cells, transparent film heaters, sensors, and displays. A cost analysis to comment on the feasibility of implementing MNW hybrids is provided, and critical areas to focus on for future work on MNW networks are suggested.

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