<p>There is more than enough energy on earth to meet everyone’s requirements for many hundreds of years, making sunshine one of the most plentiful renewable energy supplies available to civilization. Thus, the energy cannot be stored or used when the sun is not shining, since it is fleeting and intermittent. One potential solution that scientists have come up with to overcome this obstacle is the employment of photoelectrochemical devices for water splitting into hydrogen and oxygen. Hydrogen, produced by water electrolysis, is an ideal energy carrier for storing these types of energy on a large scale due to its high energy density and the absence of harmful gases or air pollution which results from its burning. However, these gadgets must be inexpensive to produce and run for widespread use. Therefore, it is of the utmost importance to create electrocatalysts for water splitting using materials that are both inexpensive and abundant on land. In this review, the potential of various earth-abundant transition metal-based bifunctional electrocatalysts with their primary features for performing the electrochemical reaction has been discussed. Further, we have discussed the major problems while constructing the bifunctional electrocatalysts from transition metals which are abundant on earth, and solutions for smooth construction of electrocatalysts. This review aims to guide the fabrication of electrocatalysts that work efficiently for the hydrogen evolution reaction (HER) and oxygen evolution reaction (OER) for exceptional performance in a realistic water-splitting experiment.</p>