The state of art is reviewed with an emphasis on recent research results and a view to identifying areas in which further developments in materials and processing might lead to even better properties and greater application of novel technology. Basis magnetic considerations are discussed, namely, B-H loop shape, core loss, magnetic anisotropy and annealing, and magnetostriction and stress effects. Materials and applications for power frequency devices are examined, covering core loss considerations, silicon steel development, metallic glasses, and high silicon materials. High-frequency and pulse applications, magnetic recording heads, and sensor and transducer applications are also discussed. Basic research questions and future directions with respect to core loss, magnetization, and stability are examined. >