Smart nonintrusive load monitoring (NILM) represents a cost-efficient technology for observing power usage in buildings. It tackles several challenges in transitioning into a more effective, sustainable, and digital energy efficiency environment. This paper presents a comprehensive review of recent trends in the NILM field, in which we propose a multiperspective classification of existing smart NILM techniques. More attention is devoted to describing the contributions of deep learning, feature extraction, computing platforms, and application scenarios for NILM development. Accordingly, NILM technical aspects are first Int J Intell Syst. 2022;37:7124-7179. wileyonlinelibrary.com/journal/int investigated, including data collection devices and public data sets. Next, event-based and non-eventbased NILM algorithms are overviewed. Furthermore, potential limitations of existing solutions are identified, highlighting their technical challenges, especially those related to security and privacy preservation, data scarcity, results reproduction, and implementation and business difficulties. Lastly, future directions are explored to overcome the identified limitations.