Abstract-In this paper, we have discussed the sensor-based applications and what is necessary for the dissimilarities in hardware realization and algorithm. This paper presents the existing state-of-the-art of IEEE 1451 standard-based sensor applications and is mainly focused on standard transducer interface module (STIM), network capable application processor (NCAP), and transducer-independent interface (TII). They have some major factors that are regularly imperative in the development of IEEE 1451 standard-based applications, such as plug and play facility, for one or more than one STIM, communication protocols/network's, architecture, reliability, maintenance, accuracy, easy to use, cost, transducer electronic data sheet, test facility, and so on. The above concerns are also summarized by reference to research articles on STIM, NCAP, and TII. Highlighting is on the predictability of dynamic applications that concentrate on the above mentioned criteria.