The word "device" as you have used, is not clear and cannot be generalized. If you mean power semiconductors only, there is no advantage but rather the disadvantage of increased losses. If you mean switching power converter systems, then the advantage is in lower size of filters since you need lesser values of L & C since the cut-off frequency is higher. If you mean magnetic components (including motors and transformers), then the advantage is that their size reduces for the same flux density at higher frequency, without consideration to their core loss ! If core loss is considered, then there will be an optimum frequency for minimum size. If frequency is very high, then Ferrite core can be used to yield small size of magnetic component since core loss will be very small.

Medical side scanner, Special purpose beam C.R.O, X-Ray, Microwave heating etc. devices working, with high frequency power supply, and is good topic for further research to carried out.Directly using the high frequency power supply reduces the, size and cost of the equipment considerably.

What i have heard is that using higher frequency supply enables us to make smaller equipment,  in similar lines is there any other benefits ????

Thanks for the clarification. I think I have covered what I had to say with regard to your clarification in the later portion of my earlier reply.

Please, take into account that  transistor switching losses are proportional to the frequency. 

Dear Mr Sarkar,

previous commenteers have pointed out several aspects of the relationship between size and high frequency. From my experience, high frequency devices are smaller because the signals have shorter wavelengths, their size result as a consequence of the involved signals and application. 

Applications like mobile communication, control, measurement, global positioning devices, etc., need to be smaller and operate with frequencies according to the signals they require to be connected to. The size rusults from design specifications.

As the commenters have already said, the higher the frequency the higher the losses. In several cases, higher frequencies offer important benefits (e.g communications). In energy applications, high frequencies imply high losses, then it is not always desirable to employ high frequencies when efficient conversion and usage of power and energy is required. 

Nikola Tesla had in mind to develop a wireless power system a century ago. Recently several researchers have gone back to these ideas. One of the main issues is that high frequencies attenuate in short distances, then the wireless power transmission is reasonably acceptable for very short distances. Mobile applications (EV charging, cell phones charging, etc.) seem to have potential in the matter.

I hope these ideas contribute to the discussion.

Best regards!

High frequency switching of semiconductor switches of converter/inverter circuits, energy storage component such as inductors and capacitors can be miniaturized. Also, wide-band gap devices, GaN, SiC shows low losses with high-frequencies, therefore these devices can be used to miniaturized the energy storage component with high-frequencies.