Understanding and designing sophisticated new materials require measurements of not only their average structural properties but also their dynamic behavior. X-ray photon correlation spectroscopy (XPCS) provides this information by characterizing fluctuations in condensed matter across a broad range of length scales and timescales. Over the past two decades, XPCS has provided a wide variety of results in the study of materials properties. In this review, we provide an overview of coherence, photon correlation spectroscopy, and the dynamic structure factor as well as information on the mechanics of XPCS experiments. We highlight the impact that this infrastructure has had on materials research and the bright future that is forthcoming with the anticipated upgrade of many third-generation synchrotron sources to fourth-generation multibend achromat sources.