The demand for ambulatory blood pressure monitoring (ABPM) is increasing due to the global rise in cardiovascular disease patients. However, conventional ABPM methods are discontinuous and can disrupt daily activities and sleep patterns. Photoplethysmography (PPG) is gaining attention from researchers due to its simplicity, portability, affordability, and ease of signal acquisition. This paper critically examines the advancements achieved in the technology of PPG-guided noninvasive blood pressure (BP) monitoring and explores future opportunities. We have performed a literature search using the Web of Science and PubMed search engines, from January 2018 to October 2023, for PPG signal quality assessment (SQA), cuffless BP estimation using single PPG, and associations between circadian rhythm and BP. Based on this foundation, we first examine the impact of PPG signal quality on blood pressure estimation results while focusing on methods for assessing PPG signal quality. Subsequently, the methods documented for estimating cuff-free BP from PPG signals are summarized. Furthermore, the study examines how individual differences affect the accuracy of BP estimation, incorporating the factors that influence arterial blood pressure (ABP) and elucidating the impact of circadian rhythm on blood pressure. Finally, there will be a summary of the study's findings and suggestions for future research directions.