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This review paper discusses various techniques for real-time monitoring of power systems in smart grids. Real-time monitoring is essential for maintaining the stability, reliability, and security of the power grid. The paper covers several monitoring techniques such as phasor measurement units (PMUs), synchro phasors, advanced metering infrastructure and intelligent electronic devices. The working of techniques and their application of each technique are analyzed, along with their functions in different scenarios. The review also highlights the parameters of techniques based on real-time data in the directions for real-time monitoring in smart grids. The paper aims to provide insights into the current state-of-the-art techniques for real-time monitoring and the discussion on the efficiency based on the comparison of some parameters of techniques used in monitoring in smart grid.