Image quality assessment (IQA) has been a topic of intense research over the last several decades. With each year comes an increasing number of new IQA algorithms, extensions of existing IQA algorithms, and applications of IQA to other disciplines. In this article, I first provide an up-to-date review of research in IQA, and then I highlight several open challenges in this field. The first half of this article provides discuss key properties of visual perception, image quality databases, existing full-reference, no-reference, and reduced-reference IQA algorithms. Yet, despite the remarkable progress that has been made in IQA, many fundamental challenges remain largely unsolved. The second half of this article highlights some of these challenges. I specifically discuss challenges related to lack of complete perceptual models for: natural images, compound and suprathreshold distortions, and multiple distortions, and the interactive effects of these distortions on the images. I also discuss challenges related to IQA of images containing nontraditional, and I discuss challenges related to the computational efficiency. The goal of this article is not only to help practitioners and researchers
keep abreast of the recent advances in IQA, but to also raise awareness of the key limitations of current IQA knowledge.