With the increasing popularity of the Internet of Things and massive Machine Type Communication technologies, the number of connected devices is rising. However, while enabling valuable effects to our lives, bandwidth and latency constraints challenge Cloud processing of their associated data amounts. A promising solution to these challenges is the combination of Edge and approximate computing techniques that allows for data processing nearer to the user. This paper aims to survey the potential benefits of these paradigms’ intersection. We provide a state-of-the-art review of circuit-level and architecture-level hardware techniques and popular applications. We also outline essential future research directions.