The perovskite solar cells (PSCs) technology translated on flexible substrates is in high demand as an alternative powering solution to the Internet of Things (IOTs). An efficiency of ∼26.1% on rigid and ∼25.09% on flexible substrates has been achieved for the PSCs. Further, it is also reported that F‐PSC modules have a surface area of ∼900 cm2, with a PCE of ∼16.43%. This performance is a world record for an F‐PSC device more significant than ∼100 cm2. The process optimization, and use of new transport materials, interface, and compositional engineering, as well as passivation, have helped in achieving such kind of performance of F‐PSCs. Hence, the review focuses mainly on the progress of F‐PSCs and the low‐temperature fabrication methods for perovskite films concerning their full coverage, morphological uniformity, and better crystallinity. The transmittance, band gap matching, carrier mobility, and ease of low‐temperature processing are the key figures of merit of interface layers. Electrode material's flexible and transparent nature has enhanced the device's mechanical stability. Stability, flexibility, and scalable F‐PSC fabrication challenges are also addressed. Finally, an outlook on F‐PSC applications for their commercialization based on cost will also be discussed in detail.