Recently, electrical power generation from oceanic waves is becoming very popular, as it is prospective, predictable, and highly available compared to other conventional renewable energy resources. In this paper, various types of nearshore, onshore, and offshore wave energy devices, including their construction and working principle, are explained explicitly. They include point absorber, overtopping devices, oscillating water column, attenuators, oscillating wave surge converters, submerged pressure differential, rotating mass, and bulge wave converter devices. The encounters and obstacles of electrical power generation from the oceanic wave are discussed in detail. The electrical power generation methods of the generators involved in wave energy devices are depicted. In addition, the vital control technologies in wave energy converters and devices are described for different cases. At present, piezoelectric materials are also being implemented in the design of wave energy converters as they convert mechanical motion directly into electrical power. For this reason, various models of piezoelectric material-based wave energy devices are illustrated. The statistical reports and extensive literature survey presented in this review show that there is huge potential for oceanic wave energy. Therefore, it is a highly prospective branch of renewable energy, which would play a significant role in the near future.