Emulsion polymerization is the method of choice to produce a wide range of specialty waterborne polymer dispersions. These are multicharacteristic products that should meet conflicting application properties and are produced through a very complex process prone to suffer run‐to‐run irreproducibilities. In a scenario of increasing competition and smaller margins, achieving even more efficient production of better materials in a consistent, cost effective, safe, and environmentally friendly way will only be possible by implementing on‐line control. However, on‐line control is hindered by the lack of sensors able to monitor most of the characteristics of the emulsion polymers. This perspective discusses the state‐of‐the‐art of the on‐line control of emulsion polymerization reactors highlighting the achievements, challenges, and opportunities.