Due to inspiration from the Nepenthes pitcher plant, a frontier of devices has emerged with unmatched capabilities. Liquid-infused surfaces (LISs), particularly known for their liquid-repelling behavior under low tilting angles (<5°), have demonstrated a plethora of applications in medical, marine, energy, industrial, and environmental materials. This review presents recent developments of LIS technology and its prospective to define the future direction of this technology in solving tomorrow's real-life challenges. First, an introduction to the different models explaining the physical phenomena of these surfaces, their wettability, and viscous-dependent frictional forces is discussed. Then, an outline of different emerging strategies required to fabricate a stable liquid-infused interface is presented, including different substrates, lubricants, surface chemistries, and design parameters which can be tuned depending on the application. Furthermore, applications of LIS coatings in the areas of anticorrosion, antifouling, anti-icing, self-healing, droplet manipulation, and biomedical devices will be presented followed by the limitations and future direction of this technology.