Laser-induced breakdown spectroscopy (LIBS) has become an established analytical atomic spectrometry technique and is valued for its very compelling set of advantageous analytical and technical characteristics. It is a rapid, versatile, non-contact technique, which is capable of providing qualitative and quantitative analytical information for practically any sample, in a virtually non-destructive way, without any substantial sample preparation. The instrumentation is simple, robust, compact, and even enables remote analysis. This review attempts to give a critical overview of the diverse progress of the field, focusing on the results of the last five years. The advancement of LIBS instrumentation and data evaluation is discussed in detail and selected results of some prominent applications are also described.