The construction industry has experienced phenomenal growth because of technological advancements in the past couple of decades. Prefabrication constitutes a sizeable share of this industry and is being adopted all over the world. The method of casting construction elements in a controlled environment and assembling them on-site has revolutionised the industry. Research on various aspects of the technology is ongoing around the world, and an impressive number of articles have been published. However, the prefab technology, materials used, and terminology have varied across locations, which may have hindered the method’s wider acceptability. By evaluating technical articles published between 1991 and 2022, this report analyses the present body of knowledge regarding prefab technology, its evolution, sustainability, and stakeholder views. This technology effectively contributes around 40% in time saving, 27% in cost reduction, 30% in reduced carbon emissions, and 84% in on-site wastage reduction. It also increases quality, gives a dependable alternative for meeting mass construction targets, is energy efficient, and provides environmentally conscious options. This paper contributes to the body of knowledge by providing a snapshot of the prefab industry spanning three decades, detailing a wide range of factors affecting the industry.