Power electronics is continuing its advance at a rapid pace [1], [2]. This is reflected in many emerging and re-emerging fields, such as wide-bandgap devices, device lifetime and reliability, high-density packaging, half-resonance and multilevel power conversion, machine-drive cooptimization, event-driven ultrafast and robust simulations, wireless power transfer, transportation electrification, structured dc, ac, or hybrid microgrids, electronic power grids, autonomous systems, and artificial-intelligence-enabled power systems [3], [4].IEEE JOURNAL OF EMERGING AND SELECTED TOPICS IN POWER ELECTRONICS (JESTPE) has been providing an effective vehicle for all our colleagues to share their most recent progress and address the toughest challenges. JESTPE is celebrating its tenth anniversary in 2023. To observe the anniversary, the JESTPE Editorial Board has organized a Special Issue on the Future of Power Electronics: Components, Circuits and Systems. We provide a special forum for our colleagues to reflect on the progress that we have made in power electronics and contemplating its future, together with its challenges and potential roadblocks.We have received 146 manuscripts, out of which the editorial review process accepted 42 of them. We organized the accepted papers as in the following eight sections. Section 1 has six invited papers that provide an overview of emerging technological trends and current challenges that we are facing in power electronics. It begins with a review of the SiC power devices, its future trends and the challenges in power application. The second paper provides an overview of upcoming trends in wireless power transfer, predicting a paradigm shift in wireless power transfer and related technologies. The third paper address the powerful extension of the discretestate event-driven simulation technique for megawatt power system simulation and design with order-of-magnitude faster speed and virtually free of convergence issue, particularly for hardware-in-the-loop prototyping and testing. The fourth paper discusses power supplies for data centers, a hot topic recently. The fifth paper presents an in-depth discussion on the recent trend in ultra-high-power-density that can be obtained with Si switching devices and its ability to remain in switching at a relatively low frequency. The underlying principles of halfresonance technic and typical performance are also discussed. The sixth paper is a tutorial in nature for high-density power module packaging. Typical challenges and effective solutions are discussed in detail.The rest of the accepted papers are organized into the following sections: 2) wireless power transfer, 3) reliability and diagnostics, 4) power quality and utility applications, 5) renewable energy and grid integration, 6) discrete and