Wafer bonding technology is one of the most effective methods for high-quality thin-film transfer onto different substrates combined with ion implantation processes, laser irradiation, and the removal of the sacrificial layers. In this review, we systematically summarize and introduce applications of the thin films obtained by wafer bonding technology in the fields of electronics, optical devices, on-chip integrated mid-infrared sensors, and wearable sensors. The fabrication of silicon-on-insulator (SOI) wafers based on the Smart CutTM process, heterogeneous integrations of wide-bandgap semiconductors, infrared materials, and electro-optical crystals via wafer bonding technology for thin-film transfer are orderly presented. Furthermore, device design and fabrication progress based on the platforms mentioned above is highlighted in this work. They demonstrate that the transferred films can satisfy high-performance power electronics, molecular sensors, and high-speed modulators for the next generation applications beyond 5G. Moreover, flexible composite structures prepared by the wafer bonding and de-bonding methods towards wearable electronics are reported. Finally, the outlooks and conclusions about the further development of heterogeneous structures that need to be achieved by the wafer bonding technology are discussed.