Technologies employing nanomaterials, such as electronics, optoelectronics, nanobiotechnologies, quantum optics, and nanophotonics, are perceived as the key drivers of investigations on novel and functional materials and their nanostructures for various applications. It is well understood that the study of such materials and structures has been of great importance for the optimization and development of electrical and optical devices. From such devices, one does not only expect higher efficiencies, but also access to the development of completely new concepts, which are strongly demanded by modern information‐processing, quantum, or medical technologies, and sensing applications. In this context, a wide range of aspects such as the physics of novel materials, as well as materials engineering, characterization, and applications are summarized here. Novel materials, which can be used, for instance, for energy harvesting or light generation, as well as for future logic devices; material engineering, which can lead to improved device functionality and performance in optoelectronics; material physics, the study of which allows insight to be gained into optical and electrical properties of nanostructured systems and quantum materials; and technologies/devices, addressing progress on the application side of sophisticated material systems and quantum structures, are highlighted using representative examples.