Software requirement triage and selection in market- driven requirements engineering is a crucial activity for the success of a project, product and company. This paper presents state-of-the- art and state-of-practice in requirements triage and selection through systematic literature review and an industrial survey. Industry practitioner can read solutions that have been proposed in literature and most applicable challenges and factors considered today and factors to be considered ideally to address the challenges, which have been collected through the survey. For researchers, the results show which challenges still needs to be addressed.