Lately Silicon Carbide (SiC) and Galium Nitride (GaN) based high frequency power conversion has gained immense popularity which stems from relatively low switching energy, robustness to high temperature operation, wide-band gap and superior thermal limits. While this aspect inherently results in a high-density power stage design, the design of adjoining passive components, particularly magnetics, needs careful attention. This is especially true if the compatibility of core and winding options and their performance is limited with the use of higher switching frequency. In this regard, this paper presents a brief review of existent research conducted in materials, optimization and integration of magnetics for single and three phase applications, ranging from filters, resonant inductors to isolation transformers. Design knobs pertaining to medium voltage (MV) applications, low-voltage (LV) applications, e-mobility sector such as more electric aircrafts (MEAs) and electric vehicles (EVs) are discussed. Guidelines for magnetics design are summarized for each application with a projected roadmap on future trend for magnetics.