Halide based perovskite materials have attracted attention as a promising candidate for the optoelectronic applications, predominantly in photovoltaic device, due to their superior potential properties such as high absorption coefficient, direct bandgap, long carrier lifetime, high balanced hole and electron mobility, low cost, facile deposition techniques, etc. Despite of this, the fundamental understanding of their physicochemical properties is still debatable in the scientific community. In this review article, we provide the deep insight into the development of perovskite single crystals using different techniques, their potential properties, and their practical applications in the various optoelectronic applications. In addition, we have compared all the reported protocols available for crystal growth and highlighted the best technique to achieve high quality crystals with better size, shape, and possession of potential key quantities to be more useful in optoelectronics. At last, we emphasized difficulties in view of chemical uses and suggested a new direction for the further research and development in the area of the halide based perovskite materials.