Third-generation photovoltaics represent a fundamental shift in how solar energy is harvested, integrated, and scaled—moving beyond conventional silicon toward tunable, lightweight, and application-specific photovoltaic materials. By advancing perovskite, organic, tandem, and quantum-dot architectures, the industry is unlocking new capabilities in flexible modules, spectral management, building-integrated solar, and decentralized energy deployment. This study examines how emerging photovoltaic materials—supported by advanced deposition methods, hybrid device stacks, and integration-ready module designs—are redefining performance, cost trajectories, and system-level versatility. The research investigates the limitations of legacy PV that next-generation materials overcome; evaluates technology enablers, such as tandem engineering and defect-tolerant semiconductors; and highlights commercial use cases demonstrating architectural, mobility, agricultural, and off-grid value. Emphasis is placed on mapping the innovation ecosystem, assessing patent and stakeholder activity, and identifying growth opportunities in which material innovation, manufacturing scale-up, and cross-industry convergence are shaping the future of high-value solar solutions.