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Phasor measurement unit (PMU) technology is a need of the power system due to its better resolution than conventional estimation devices used for wide-area monitoring. PMUs can provide synchronized phasor and magnitude of voltage and current measurements for state estimation of the power system to prevent blackouts. The drawbacks of a PMU are the high cost of the device and its installation. The main aspect of using PMUs in electrical networks is the property to observe the adjacent buses, thereby making it possible to observe the system with fewer PMUs than the number of buses through their optimal placement. In the last two decades, exhaustive research has been done on this issue. Considering the importance of this field, a comprehensive review of the progress achieved until now is carried out and the limitations of existing reviews in the literature are highlighted. This paper can be seen as a major attempt to provide an up-to-date review of the research work carried out in this all-important field of PMU placement and indicates that some perspectives of optimal PMU placement still need attention. Eventually, the work will open a new standpoint for the research community to fill the research gap.

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