Biometric template protection techniques like biometric cryptosystems and cancelable biometrics are most widely used in many large-scale biometric systems. Though generic biometric cryptosystems differ from other conventional cryptosystems, still it is insufficient to overcome the challenges ahead of identity frauds and vulnerabilities to major attacks. In recent years it’s been used as promising primitives in many Internet of Things (IoT) devices and third party Intellectual Property protections with the name called cancelable biometrics where both user-defined random transformations are combined with biometric template vectors. However, protection over biometric templates (e.g., retina, iris, and palmprint) needs to be improved. In this work, the analysis presents biometric cryptosystems and cancelable biometrics with major outlook to recent prospects like obfuscation and multi-object biometric system.