Every material in its various forms of existence possesses specific property and applications in various fields. In the similar way metamaterials are those hypothetical and expert to possess a specific property and applicable to various domains. These materials are engineered artificially with specific structures designed to exhibit the properties which are not available in naturally occurring materials. The present work takes an opportunity to explore the fundamental principles of these materials, their classifications, design methodologies and the range of applications in the fields viz, electromagnetics to acoustics and beyond. Mainly the key applications in the fields like invisibility cloaking, superlenses and advanced antennas are discussed, highlighting their transformative potential and characteristics for the futuristic needs and developments.