Abstract: With the exhaustion of conventional fossil fuels and serious environment pollution, solar photovoltaic technology has attracted worldwide attention, but it is still limited by its high cost of power generation and material shortage. Concentrating photovoltaic technology is promising for lowering the cost of power generation with its advantages of higher photovoltaic conversion efficiency and lower consumption of solar cells. This paper begins with a detailed introduction to the history, current status, and principle of concentrating photovoltaic systems, followed by a detailed discussion of its key market barriers and future potential.