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The present chapter presents how strain technology has developed over the years. Starting from theoretical analysis, through various simulation and fabrication processes, the scientists have studied the physics of strain engineering and how it can be used in modern transistors to improve the performance. Although gradual miniaturization of transistor dimension was performed for several years to accommodate more transistors in a chip, with the challenges of low-dimensional transistor devices, scientists are looking for new device structures, materials, and technologies to sustain the growth. In this regard, various III-V semiconductor materials like InGaAs, GaAs, InP, etc., as well as several new two-dimensional materials like Graphene, Molybdenum Sulfide (MoS₂), Boron Nitride, etc., are under investigation for their superior characteristics compared to conventional group-IV semiconductors. In these materials, researchers are exploring the impact of induced stress by controlled manner; however, several studies need to be performed to reach a definite conclusion. Furthermore, in new device structures like Nanowire (NW) FETs, Quantum well (QW) FETs, 2D channel material FETs, etc., these strain-induced changes in device performances, need to be explored in detail. Plenty of studies need to be undertaken for future devices and with the help of previously published reports, these new analyses will lead to innovative new technologies and ideas.