Solar cells based on organometal halide perovskites attract increasing research interest as an excellent source of renewable energy due to their inexpensive process, high power conversion efficiency, and availability of abundant raw material. The basic description, current research targets and status, and future perceptions of perovskite‐based photovoltaics along with the strategies toward the enhancement of both (intrinsic and extrinsic) stabilities of high‐efficiency devices are summarized and analyzed. This review provides the required knowledge for this design by studying various commercialized thin‐film technologies, analyzing large‐scale fabrication methods like physical vapor deposition, chemical vapor deposition, inkjet printing, doctor blading, spray coating, and roll‐to‐roll techniques. Addressing the present threat and opportunities for integrating the new material exploration, devices and large‐scale fabrication is conductive to the successful commercialization of the perovskite solar cells (PVSCs). This article presents the overview of the reports of the latest technological enhancement of cell stability, interfacial modification, replacement of electron and hole transport layers, techniques used for minimizing the lead‐based perovskites toxicity, and large‐scale fabrication. Finally, this provides an emphasis on organometal halide perovskite‐based solid‐state solar cell contacts that are believed to be the key factor for achieving highly stable PVSCs.