Wind Energy Conversion System (WECS) plays an inevitable role across the world. WECS consist of many components and equipment’s such as turbines, hub assembly, yaw mechanism, electrical machines; power electronics based power conditioning units, protection devices, rotor, blades, main shaft, gear-box, mainframe, transmission systems and etc. These machinery and devices technologies have been developed on gradually and steadily. The electrical machine used to convert mechanical rotational energy into electrical energy is the core of any WECS. Many electrical machines (generator) has been used in WECS, among the generators the Permanent Magnet Synchronous Generators (PMSGs) have gained special focus, been connected with wind farms to become the most desirable due to its enhanced efficiency in power conversion from wind energy turbine. This article provides a review of literatures and highlights the updates, progresses, and revolutionary trends observed in WECS-based PMSGs. The study also compares the geared and direct-driven conversion systems. Further, the classifications of electrical machines that are utilized in WECS are also discussed. The literature review covers the analysis of design aspects by taking various topologies of PMSGs into consideration. In the final sections, the PMSGs are reviewed and compared for further investigations. This review article predominantly emphasizes the conceptual framework that shed insights on the research challenges present in conducting the proposed works such as analysis, suitability, design, and control of PMSGs for WECS.