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Magnetics is second only to semiconductor technology in its importance to electronic and electrical products. The affected markets include magnetic materials, electronic components, magnetic information storage equipment, and electrical equipment. Our measurement capability strongly determines the ease with which commercial goals can be achieved. The existence of internationally recognized standards of measurement and standard reference materials assists in ensuring product compatibility. Magnetic measurement technology has made significant strides in the last few years. Usually this was driven by the demands of ever‐increasing storage densities in magnetic recording, although superconductivity and high frequency electronics contributed as well. In this presentation, I will discuss an array of new instruments and measurement techniques with emphasis on the small scale measurement of magnetic parameters. In addition, I will present results of a recent NIST assessment of the present status and future development of measurements and standards in the field of magnetics.