<p>Virtual metrology (VM) involves using statistical models from production process data to predict measurements and quality attributes of products in modern manufacturing processes without considering the direct measurement. This approach provides real-time monitoring and maintains product quality. On the other hand, predictive maintenance focuses on forecasting equipment failures before they occur. Virtual metrology and predictive maintenance create a robust framework for enhancing manufacturing processes. The integrated approach of Virtual Metrology and Predictive Maintenance (PdM) supports a more responsive manufacturing environment, ultimately leading to better performance and competitiveness in the market. This review presented recent advancements in virtual metrology and predictive maintenance in the present industry. A detailed analysis was conducted based on specific search and selection criteria. Applications of VM and PdM across various industrial sectors are thoroughly discussed along with key advantages and challenges.</p>