Book excerpt: The research of functional materials has attracted extensive attention in recent years, and its advancement nitrifies the developments of modern sciences and technologies like green sciences and energy, aerospace, medical and health, telecommunications, and information technology. The present book aims to summarize the research activities carried out in recent years devoting to the understanding of the physics and chemistry of how the defects play a role in the electrical, optical and magnetic properties and the applications of the different functional materials in the fields of magnetism, optoelectronic, and photovoltaic etc.