This work reports a systematic review of the studies of magnetron sputtering (MS) discharges and their utilities for the deposition of transparent coating oxide thin films like indium tin oxides (ITOs). It collates the overall information of plasma science, diagnostics, and chemistry and their usefulness in controlling the plasma process, film growth, and properties. It discusses studies on various MS systems and their capabilities and reports scientific aspects like the formation of instability and plasma flares to understand the various discharge phenomena. The study also discusses various issues, progress, and challenges in ITO films for industrial applications. In addition, this work highlights the importance of plasma parameters and energy flux on thin film growth and film properties.