Nanoparticles, nanowires, nanorods and other kinds of nanostructures have been of great interest to scientific field. Semiconducting nanowires have attracted much attention due to the fact that reduced dimensional confinement of electrons, holes and photons make them particularly attractive as potential building blocks for nanoscale optoelectronic devices, highly quantum efficient lasers and non-linear optical converters. It is generally accepted that the low dimensional structures (where the size in one direction is equivalent to or smaller than the de Broglie wavelength) are useful materials for investigating the dependence of electrical and thermal transport or mechanical properties on the dimensionality and quantum confinement. Nanomaterials also play an important role as functional units in fabricating the electromechanical devices. Semiconductor nanostructures of different materials and shapes are investigated due to their size dependent electronic properties observable at dimensions comparable to or less than Bohr radius of exciton in these materials. Especially various oxides and sulphides have generated interests in variety of applications. In this paper, the recent progress in various nanostructures, paradigms in implementation and technology hurdles in implementing nanostructures are discussed