Water quality monitoring has become more critical in recent years to ensure the availability of clean and safe water from natural aquifers and to understand the evolution of water contaminants across time and space. The conventional water monitoring techniques comprise of sample collection, preservation, preparation, tailed by laboratory testing and analysis with cumbersome wet chemical routes and expensive instrumentation. Despite the high accuracy of these methods, the high testing costs, laborious procedures, and maintenance associated with them don’t make them lucrative for end end-users and field testing. As the participation of ultimate stakeholders, that is, common man for water quality and quantity can play a pivotal role in ensuring the sustainability of our aquifers, thus it is essential to develop and deploy portable and user-friendly technical systems for monitoring water sources in real-time or on-site. The present review emphasizes here on possible approaches including optical (absorbance, fluorescence, colorimetric, X-ray fluorescence, chemiluminescence), electrochemical (ASV, CSV, CV, EIS, and chronoamperometry), electrical, biological, and surface-sensing (SPR and SERS), as candidates for developing such platforms. The existing developments, their success, and bottlenecks are discussed in terms of various attributes of water to escalate the essentiality of water quality devices development meeting ASSURED criterion for societal usage. These platforms are also analyzed in terms of their market potential, advancements required from material science aspects, and possible integration with IoT solutions in alignment with Industry 4.0 for environmental application.