Volatility prediction has been one of the most crucial topics in the hallways of financial markets. It is of vital significance in the areas of risk management, asset pricing and financial decision making process for several stakeholders. Many volatility models prevail for predicting future volatility but one of the most intriguing methods is the implied volatility which is mainly a market-centered volatility forecast. Present study is an attempt to know the suppositions of various researchers transversely assets and markets that have tested the predictive abilities of the implied volatility in order to understand its supremacy as compared to the other models.