This chapter reviews the technical evolution of random sampling-and-averaging (RSA) technique associated with variance reduction (VR) in the time-interval measurements of emerging microelectronic and quantum applications. First, the theoretical analysis of the RSA technique based on stochastic Monte Carlo methods is elaborated for power-efficient and highly-accurate signal and photon detections, including both synchronous and asynchronous RSA measurement techniques with superior time-domain detection resolution, scalable dynamic ranges, high linearity, high noise-immunity, and low power/area consumption. Second, to further enhance the conversion-rate of the RSA measurements, the theoretical expectations, variances, and correlation coefficients of two RSA-compatible VR techniques, self-antithetic and control-variate VRs, are comprehensively derived and expressed in the mathematical closed-forms for practical integrated-circuit (IC) hardware realization.