Metal Additive Manufacturing (MAM) process has been established as an industrial process for customized and intricate metallic components. It is one of the growing technologies proving its potential in numerous fields by introducing the latest processing methods. The significant growth in this technology is partially fueled by its ability to manufacture parts that could be performance-beneficial and commercially utilizable in various industries. The adaptability of metal AM processes has prompted innovation across various industries with applications spanning defense, aerospace, medical, dental, automotive, and oil & gas sectors. Each industry benefits from the unique abilities of metal AM; for instance, material efficiency, design flexibility, lead time reduction, and the creation of lightweight and complex structures that were unachievable through traditional methods can now be achieved. Therefore, this review article analyzes metal AM, describing its types, technological challenges, environmental & business considerations, energy consumption, applications, and future trends. Initially, the article introduces primary categories of metal AM, elaborating their mechanism and working principles, later, it focuses on the industrial contributions of metal AM, technological challenges, and business considerations. The outlook of this technology highlights emerging materials and technologies, such as the inclusion of machine learning (ML) and artificial intelligence (AI) to predict defects, optimize process parameters, and enhance the quality of products. Furthermore, advanced materials like high entropy alloys (HEAs) are being discussed to broaden the functionality of AM parts. Metal AM is playing a critical role in shaping the future of manufacturing by offering customization, efficiency, and sustainability in the industries. The article aims to provide a general understanding of metal AM while highlighting key technological advancements and future research directions to expand its applications in various sectors further.