Graphene is a wonder material with many superlatives to its name. It is the thinnest material in the universe and the strongest ever measured. Its charge carriers exhibit giant intrinsic mobility, have the smallest effective mass (it is zero) and can travel micrometer-long distances without scattering at room temperature. Graphene can sustain current densities 6 orders higher than copper, shows record thermal conductivity and stiffness, is impermeable to gases and reconciles such conflicting qualities as brittleness and ductility. Electron transport in graphene is described by a Dirac-like equation, which allows the investigation of relativistic quantum phenomena in a bench-top experiment. What are other surprises that graphene keeps in store for us? This review analyses recent trends in graphene research and applications, and attempts to identify future directions in which the field is likely to develop.