The current dominance of high-energy-density lithium-ion batteries (LIBs) in the commercial rechargeable battery market is hindering their further development because of concerns over limited lithium resources, high costs, and the instability of organic electrolytes on a large scale. However, rechargeable aqueous zinc-ion batteries (ZIBs) offer a promising alternative to LIBs. They provide ecofriendly and safe energy storage solutions with the potential to reduce manufacturing costs for next-generation battery technologies. Although ZIBs face challenges, such as dendrite formation, lower energy density, and limited cycle life, they are increasingly becoming more cost-competitive and gaining market acceptance. This article explores the potential of ZIBs as a future energy source, emphasizing their advantages and the recent technological progress in utilizing zinc, which is both abundant and inexpensive. We delve into the various mechanisms employed by ZIB electrodes and discuss the latest developments in electrode materials for anodes and cathodes, as well as the essential electrolytes and separator materials required for assembling ZIBs. Consequently, with their cost-effective materials, enhanced safety, and ongoing technological advancements, ZIBs are emerging as a promising solution for reliable and sustainable energy storage.