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A new generation of sensors can be engineered based on the sensing of several markers to satisfy the conditions of the multimodal detection principle. From this point of view, photoacoustic-based sensing approaches are essential. The photoacoustic effect relies on the generation of light-induced deformation (pressure) perturbations in media, which is essential for sensing applications since the photoacoustic response is formed due to a contrast in the optical, thermal, and acoustical properties. It is also particularly important to mention that photoacoustic light-based approaches are flexible enough for the measurement of thermal/elastic parameters. Moreover, the photoacoustic approach can be used for imaging and visualization in material research and biomedical applications. The advantages of photoacoustic devices are their compact sizes and the possibility of on-site measurements, enabling the online monitoring of material parameters. The latter has significance for the development of various sensing applications, including biomedical ones, such as monitoring of the biodistribution of biomolecules. To extend sensing abilities and to find reliable measurement conditions, one needs to clearly understand all the phenomena taking place during energy transformation during photoacoustic signal formation. Therefore, the current paper is devoted to an overview of the main measurement principles used in the photoacoustic setup configurations, with a special focus on the key physical parameters.