An effective battery management system (BMS) is indispensable for any lithium-ion battery (LIB) powered systems such as electric vehicles (EVs) and stationary grid-tied energy storage systems. Massive wire harness, scalability issue, physical failure of wiring, and high implementation cost and weight are some of the major issues in conventional wired-BMS. One of the promising solutions researchers have come up with is the wireless BMS (WBMS) architecture. Despite research and development on WBMS got momentum more than a decade ago, it is still in a preliminary stage. Significant further upgradation is still required towards developing an industry-ready WBMS, especially for high-power LIB packs. Therefore, an in-depth survey exclusively on WBMS architectures is presented in this article. The aim is to provide a summary of the existing developments as well as to present an informative guide to the research community for future development by highlighting the issues, emerging trends, and challenges. In-depth analysis of the existing WBMS topologies will not only help the researchers to understand the existing challenges and future research scopes clearly while at the same time enthuse them to focus their research inclination in the domain of WBMS.