As a direct wide bandgap semiconducting material, two-dimensional, 2D, silicon carbide has the potential to bring revolutionary advances into optoelectronic and electronic devices. It can overcome current limitations with silicon, bulk SiC, and gapless graphene. In addition to SiC, which is the most stable form of monolayer silicon carbide, other compositions, i.e., are also predicted to be energetically favorable. Depending on the stoichiometry and bonding, monolayer may behave as a semiconductor, semimetal or topological insulator. With different Si/C ratios, the emerging 2D silicon carbide materials could attain novel electronic, optical, magnetic, mechanical, and chemical properties that go beyond those of graphene, silicene, and already discovered 2D semiconducting materials. This paper summarizes key findings in 2D SiC and provides insight into how changing the arrangement of silicon and carbon atoms in SiC will unlock incredible electronic, magnetic, and optical properties. It also highlights the significance of these properties for electronics, optoelectronics, magnetic, and energy devices. Finally, it will discuss potential synthesis approaches that can be used to grow 2D silicon carbide.