Researchers from various disciplines have shown great interest in carbon nanotubes (CNTs) due to their exceptional nanostructures and distinct electronic, mechanical, and optical characteristics. Carbon nanotubes (CNTs) have shown great potential in various fields, including nanocomposites and biomedicine, making them particularly advantageous in the domain of sensing technologies. This review provides a critical analysis of the progression of carbon nanotube (CNT) synthesis techniques, starting from arc discharge and progressing to chemical vapor deposition. The focus is on the inherent trade-offs that exist between the yield, purity, and cost associated with these methods. Furthermore, the review examines a diverse array of sensing applications, encompassing glucose, pH, and quaternary ammonium compounds (QAC) sensors, among others. Considerable emphasis is placed on the prospective capacity of carbon nanotube (CNT) sensors to significantly transform analytical methodologies by providing enhanced sensitivity, specificity, and the potential for downsizing. This review seeks to offer insights into the opportunities and challenges associated with carbon nanotube (CNT)based sensing technologies by conducting a thorough analysis of existing literature. Additionally, it aims to provide a forward-looking perspective on the future potential of these technologies. If these nanostructures are successfully developed, they possess the potential to initiate a novel phase of technological progress, thereby transforming our quality of life in unprecedented manners. I.