This review paper provides an in-depth analysis of Perovskite quantum dots (PQDs), a class of nanomaterials with unique optical and electronic properties that hold immense potential for various technological applications. The paper delves into the structural characteristics, synthesis methods, and characterization techniques of PQDs, highlighting their distinct advantages over other Quantum Dots (QDs). Various applications of PQDs in fields such as solar cells, LEDs, bioimaging, photocatalysis, and sensors are discussed, showcasing their versatility and promising capabilities. The ongoing advancements in PQD research and development point towards a bright future for these nanostructures in revolutionizing diverse industries and technologies.