Vertical-cavity surface emitting lasers (VCSELs) have emerged as a highly promising light source with extensive applications in various fields, including consumer electronics, optical communication, metrology, sensing and ranging. Their low-cost, high conversion efficiency, and compact footprint make them particularly attractive for widespread adoption. While considerable success has been made in enhancing the performance and speed of VCSELs for optical communications, achieving high-power VCSELs with properties such as high output power, single transverse mode operation, and temperature stability for remote sensing applications remains a challenging endeavor. This review aims to provide a comprehensive overview of the recent advancements in the development of high-power VCSELs. By examining the advancements in active materials, device designs, array configurations, this review seeks to shed light on the current state-of-the-art and potential avenues for further improvement in high-power VCSEL technology.