Polyester-based advanced thin films have versatile industrial applications, especially in the fields of textiles, packaging, and electronics. Recent advances in polymer science and engineering have resulted in the development of advanced amorphous and semi-crystalline polyesters with exceptional performance compared to those of conventional polymeric films. Among these, 1,4-cyclohexanedimethanol (CHDM) and cyclic-monomer-based polyesters have gained considerable attention for their exceptional characteristics and potential applications in smart films. This review article provides a comprehensive overview of the recent advances in the synthesis, characterization, and applications of CHDM and cyclic-monomer-based advanced polymers for smart film applications. It discusses the structure-property relationships of these innovative polyesters and highlights their unique characteristics, including thermal, mechanical, and barrier characteristics. Furthermore, this article also emphasizes the solution, melt, and solid-state polymerizations of the polymers. Special emphasis is placed on the influence of the addition of a second diol or second diacid on the performance characteristics of synthesized polyesters/copolyesters to explore their versatile industrial applications. Additionally, the impact of the stereochemistry of the monomers is explored to optimize the characterization of polyesters suitable for industrial applications. Furthermore, this article explores the potential of these advanced polyesters to be considered as materials for smart film applications, especially in the field of flexible electronics. Finally, this article examines the challenges and future recommendations for the development of CHDM and cyclic-monomer-based polyesters for smart film applications. It discusses potential avenues for further research, including in-depth studies for the synthesis and characterization of polyesters, the development of sustainable and biodegradable alternatives to cyclic monomers, alternative green approaches for the synthesis of polymers, etc. This review article provides valuable insight for researchers in academia and industry who are working in the fields of polymer science and materials engineering.