Piezoresponse force microscopy (PFM) is a powerful method widely used for nanoscale studies of the electromechanical coupling effect in various materials systems. Here, we review recent progress in this field that demonstrates great potential of PFM for the investigation of static and dynamic properties of ferroelectric domains, nanofabrication and lithography, local functional control, and structural imaging in a variety of inorganic and organic materials, including piezoelectrics, semiconductors, polymers, biomolecules, and biological systems. Future pathways for PFM application in high-density data storage, nanofabrication, and spectroscopy are discussed.