Microheterogeneous systems (typically micelles and reverse micelle systems) refer to aggregate systems in which different structural shapes are formed by amphiphiles in water or other similar media. Amphiphilic molecules undergo a self-assembly process known as micellization through hydrophobic or H-bonding interactions. The Microenvironment consisting surfactants changes the physicochemical behavior of the system and can catalyze or inhibit reaction rates. In addition, thermodynamic parameters such as standard enthalpy of activation, standard entropy of activation, energy of activation etc. may vary in this environment. Thus, for last few decades, the enormous interest among the researchers in the study of the effect of microheterogeneous environments on reaction rate. It is also challenging how to fit experimental results with different models. Every model has its own significance and limitations.