This paper reviews the state of art technology of laser induced breakdown spectroscopy (LIBS). Research on LIBS is gaining momentum in the field of instrumentation and data analysis technique due to its wide application in various field particularly in environmental monitoring and in industry. The main focus is on its miniaturization for field application and on increasing its sensitivity. The sensitivity of LIBS has been increased by confining the laser produced plasma using external magnetic field as well as using two successive laser pulse excitation of plasma. LIBS has capability for simultaneous multi element determination, localized microanalysis, surface analysis and has been used successfully for determination and identification of hazardous explosive and biological samples. Experimental findings of LIBS study in different applications have been discussed.