Transition metal oxides with two different cations in the same crystal structure are considered to perform better as catalysts due to the synergistic effects causing better charge transfer and the availability of more active sites. Chemicals with molybdate anion (MoO4−) have been proven to have vast industrial importance in arenas like catalysis, supercapacitance, nuclear medicine, calorimetry, etc. In particular, nanostructured nickel molybdate (NiMoO4) is a promising entrant as an electrode substance for sophisticated power bank applications, apart from being a catalyst for chemical reactions involving energy conversion. Engineering of NiMoO4 at different scopes has been proven to cause a vast enhancement in the catalytic performance of nanometric NiMoO4 through improvement in redox reaction kinetics during the last couple of decades. This review imparts a precise thought about NiMoO4 considering all its developments in the unearthing of properties, synthesis routes, and analyzing tunability for improvement in attributes towards focused applications.