An efficient and cost-effective power converter is a pre-requisite for the modern power applications. With the evolvement of matured medium power self-commutated switching devices, multilevel inverters (MLIs) are emerged as a promising solution for high-power medium-voltage applications. Though, MLIs are performing a promising role in industrial applications, their high device count, size, cost and control complexity have restricted their market penetration. To address the disadvantages of MLIs, researchers are continuously contributing to new generation topologies under the name of reduced switch count (RSC) MLIs. From the past decade, numerous RSC-MLIs topologies have been reported for various applications. Therefore, this paper presents a comprehensive review and classification of RSC-MLI topologies, in terms of their structure, features, limitations, suitability and selection for specific applications..