This Perspective focuses on experimental and theoretical aspects of positron annihilation spectroscopy. This set of methods is highly suitable for identifying and quantifying vacancy-type defects in semiconductors and also allows for analyzing their physics characteristics. We present selected examples from the past decade, where the methods have been used for obtaining timely and useful insights into the defect-controlled phenomenon in narrow-gap (Ge, GaSb) and wide-gap (III-nitride, oxide) semiconductors. We also discuss possible future developments that may allow more detailed studies in novel semiconductor materials and devices with ever more complex lattice structures.