Since the discovery of graphene in 2004, the research and application of two-dimensional (2D) materials have received great attention and developed rapidly. Abundant band gap structures, unique optoelectronic properties, and van der Waals surfaces without dangling bonds greatly broaden the design dimensions of semiconducting electronics and optoelectronics. Among them, the two-dimensional indium selenide, as one of the most promising candidates for future high-mobility optoelectronic devices, it has been recognized as “the ‘golden middle’ between silicon and graphene” by Nobel Prize winner Andre Geim. However, the research on two-dimensional indium selenide material has only been less than ten years, and the understanding of crystals fabrication and device application is still insufficient. This work mostly focuses on the development of indium selenide materials and the research status of its electronic and optoelectronic devices. In addition, considering that the present research on 2D indium selenide are mostly based on mechanical exfoliation of InSe bulks, the development of the crystal structure characterization and crystals fabrication are traced in this paper, then the state-of-the-art on the preparation and performance characterization of two-dimensional indium selenide are further summarized, and the influence of device geometries, material fabrication method and other factors on the electrical transport performance of 2D indium selenide field effect transistors and photodetectors are further discussed, and ended with analysis of the opportunities and challenges for future indium selenide based applications.