Book excerpt: The use of the wavelet transform to analyze the behaviour of the complex systems from various fields started to be widely recognized and applied successfully during the last few decades. In this book some advances in wavelet theory and their applications in engineering, physics and technology are presented. The applications were carefully selected and grouped in five main sections - Signal Processing, Electrical Systems, Fault Diagnosis and Monitoring, Image Processing and Applications in Engineering. One of the key features of this book is that the wavelet concepts have been described from a point of view that is familiar to researchers from various branches of science and engineering. The content of the book is accessible to a large number of readers.