High-temperature superconducting (HTS) cables, with their prominent advantages of large capacity, low loss, current self-limit, and environment friendliness, are a new promising solution for addressing the challenges regarding urban power grid upgrades, large-capacity power applications, and efficient power transmission. Exploring the development of related industries has both basic research and engineering application values. This study analyzes the technical characteristics and application elements of HTS cables and summarizes the application scenarios of HTS cables, including super switch stations, high-current-dedicated lines, data center power supply, electrolytic aluminum and electrolytic water hydrogen production using new energy, centralized charging stations, urban rail transit, and large-capacity direct-current power grids. Moreover, this study summarizes the development and application progress of HTS cables from both international and domestic perspectives, comprehensively reviewing the key product development, key technology research, and engineering project implementation in China. Further exploration was conducted on future development challenges, including strengthening operation and maintenance technologies, overcoming large-scale refrigeration technologies, reducing overall project costs, coupling with traditional power grid facilities, and forming a profit sharing mechanism. Targeted development suggestions are also proposed. This study is expected to provide references for the high-quality development of HTS cables.