Particle image velocimetry (PIV) measurement technique provides an excellent opportunity for investigating instantaneous spatial structures which are not always possible with point measurements techniques like laser Doppler velocimetry. In this review, it was shown that PIV technique provides an effective means of visualizing important structures of Newtonian and drag‐reducing fluid flows. Such structures include large‐scale‐events that constitute an important portion of the Reynolds stress tensor; shear layers of drag‐reducing flows, which have been suggested to constitute the mechanism of drag reduction (DR); and near wall vortices/low speed streaks which constitute the mechanism of turbulence production. PIV investigations of turbulence statistics in Newtonian and drag‐reducing fluid flows were reviewed with the view of providing explanation to DR by additives. Results of turbulence statistics, for Newtonian fluid flow, showed that streamwise velocity fluctuations and turbulence intensity had peak values close to the wall, in a region of high mean velocity gradient, while radial fluctuating velocity and Reynolds stress tensor had peaks further from the wall and at approximately the same detachment from the wall. In single‐ and two‐phase flows in horizontal channels, the velocity profile of polymer solution, in the turbulent regime, show asymmetric behavior. This review highlighted important interfacial characteristics in gas‐liquid flows such as S‐shaped velocity profile as well as the turbulences statistics in each phase and across the interface region. Drag‐reducing agents (DRAs)‐imposed changes on turbulence statistics and flow structures were also examined. PIV studies of drag‐reducing flows showed that DRAs act to dampen wall‐normal‐, streamwise fluctuating velocity, and Reynolds stress tensor. The reduction in Reynolds stress tensor is higher than the reduction of both wall‐normal and streamwise velocity fluctuations and this discrepancy has been associated with the decorrelation of the component of fluctuating velocity. Furthermore, the addition of DRA produces a shift of the peak of wall‐normal velocity fluctuations further from the wall due to increased buffer layer thickness. DRAs do not only act to reduce drag but also to modify the flow structure. The major influence of DRAs on flow structures is seen in the reduced strength and population of vortices close to the wall, increased spacing between low‐speed streaks, reduced frequency of large‐scale events and reduced concentration of small eddies. Effect of DRAs on flow structures depends not only on the level of DR but also on the concentration and molecular weight. The effect of concentration is linked to the elastic properties of the DRA. The influence of DRA on oil‐water flows in similar to its effect on single phase water flow with regards to changes in near wall structures and turbulence statistics. A few research gaps and limitations of the PIV techniques were also highlighted.