This review examines the recent advancements in transparent electrodes and their crucial role in multimodal sensing technologies. Transparent electrodes, notable for their optical transparency and electrical conductivity, are revolutionizing sensors by enabling the simultaneous detection of diverse physical, chemical, and biological signals. Materials like graphene, carbon nanotubes, and conductive polymers, which offer a balance between optical transparency, electrical conductivity, and mechanical flexibility, are at the forefront of this development. These electrodes are integral in various applications, from healthcare to solar cell technologies, enhancing sensor performance in complex environments. The paper addresses challenges in applying these electrodes, such as the need for mechanical flexibility, high optoelectronic performance, and biocompatibility. It explores new materials and innovative techniques to overcome these hurdles, aiming to broaden the capabilities of multimodal sensing devices. The review provides a comparative analysis of different transparent electrode materials, discussing their applications and the ongoing development of novel electrode systems for multimodal sensing. This exploration offers insights into future advancements in transparent electrodes, highlighting their transformative potential in bioelectronics and multimodal sensing technologies.