Wireless charging systems are foreseen as an effective solution to improve the convenience and safety of conventional conductive chargers. As this technology has matured, recent broad applications of wireless chargers to electrified transportation have indicated a trend toward higher power, power density, modularity, and scalability of designs. In this article, commercial systems and laboratory prototypes are reviewed, focusing mostly on the advances in high-power wireless charging systems. The recent endeavors in magnetic pad designs, compensation networks, power electronics converters, control strategies, and communication protocols are illustrated. Both stationary and dynamic (in-motion) wireless charging systems are discussed, and critical differences in their designs and applications are emphasized. On that basis, the comparisons among different solutions and design considerations are summarized to present the essential elements and technology roadmap that will be necessary to support large-scale deployment of high-power wireless charging systems. The review is concluded with the discussion of several fundamental challenges and prospects of high-power wireless power transfer (WPT) systems. Foreseen challenges include utilization of advanced materials, electric and electromagnetic field measurement and mitigation, customization, communications, power metering, and cybersecurity.