The world of connected devices has been attributed to applications that relied upon multitude of devices to acquire and distribute data over extremely diverse networks. This caused a plethora of potential threats. In the field of IT security, the concept of digital baits, or honeypots, which are typically network components (computer systems, access points, or switches) launched to be interrogated, savaged, and impacted, is currently popular as it allows scientists to comprehend further on assault patterns and behavior. Combining the inherent modularity with the administration enabled by the container makes security management simple and permits dispersed deployments, resulting in a very dynamic system. This study delivers several contributions in this regard. First, it comprehends the patterns, methods, and malware types that container honeypots deal with thus examining new developments in existing honeypot research to fill gaps in knowledge about the honeypot technology. A broad range of independently initiated and jointly conducted container honeypot strategies and studies that encompass various methodologies is surveyed. Second, using numerous use cases that aid scientific research, we address and investigate a number of challenges pertaining to container honeypots, such as identification problems, honeypot security issues, and dependability issues. Furthermore, based on our extensive honeypot research, we developed VIKRANT, a containerized research honeypot which assists researchers as well as enthusiasts in generating real-time flow data for threat intelligence. The configured approach was monitored resulting in several data points that allowed relevant conclusions about the malevolent users’ activities.