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Optical multi-band (OMB) systems exploit the low-loss spectrum of the single mode fiber (SMF) and are key enablers to increase the transportation capacity and node connectivity of already deployed systems. The realization of OMB systems is mainly based on the technological advances on the component and system level, and for this purpose, a broad gamut of various structural elements, such as transceivers, amplifiers, filters, etc. have been commercialized already or are close to commercialization. This wide range of options, which aid in unlocking the concurrent transmission in all amplification bands, is reviewed here for the first time, whilst their pros and cons as well as their limitations are discussed. Furthermore, the needs for additional components in order to fully exploit the -390 nm low-loss wavelength range of SMF, which spans from 1260 to 1650 nm, are highlighted. Finally, based on a physical layer formalism, which incorporates the impact of the most important physical layer constraints for an OMB system, the attainable capacity and transparent reach of each amplification band are quantified. [ABSTRACT FROM AUTHOR]