Single-junction solar cells have been inefficient because of low minority-carrier lifetime due to N-related recombination centres and low carrier mobility due to alloy scattering and nonhomogeneity of N. This paper reviews the research activities for III-V compound multijunction (MJ) solar cells. Under this we have many types and methods like (In)GaAsN singlejunction solar cells, carbon nanotube-composite wafer bonding, direct semi- conductor bonding technology, Dry-Epitaxial Lift-off, Integration, Interconnect and Encapsulation technique, Thin-Film ingap/(In)GaAs/Ge Multi junction Solar Cells controlled by spalling technology, lattice-matched III-V multi-junction solar cells. Here we discuss advantages, disadvantages and efficiencies of different multijunction solar cells. And analysing the results of each method and finally concluding that the new concentrator system is expected to open a door to a new age of high efficiency PV.