As the adoption of Electric Vehicles (EVs) accelerates, driven by increasing urbanization and the push for sustainable infrastructure, the need for innovative solutions to support this growth has become more pressing. Vehicle-to-Grid (V2G) technology presents a promising solution by enabling EVs to engage in bidirectional interactions with the electrical grid. Through V2G, EVs can supply energy back to the grid during peak demand periods and draw power during off-peak times, offering a valuable tool for enhancing grid stability, improving energy management, and supporting environmental sustainability. Despite its potential, the large-scale implementation of V2G faces significant challenges, particularly from a technological and regulatory standpoint. The success of V2G requires coordinated efforts among various stakeholders, including vehicle manufacturers, infrastructure providers, grid operators, and policymakers. In addition to the technical barriers, such as battery degradation due to frequent charging cycles and the need for advanced bidirectional charging systems, regulatory frameworks must evolve to accommodate this new energy paradigm. This review aims to provide a comprehensive analysis of V2G technology, focusing on different perspectives—such as those of users, vehicles, infrastructures, and the electricity grid. This study will also explore ex ante, ex post, and ongoing assessment studies, alongside the experiences of pioneer cities in implementing V2G.