Recent progresses in the second generation REBa2Cu3O7-x (RE123) coated conductor (CC) have paved a way for the development of superconducting solenoids capable of generating fields well above 23.5 T, i.e. the limit of NbTi-Nb3Sn-based magnets. However, the RE123 magnet still poses several fundamental and engineering challenges. In this work we review the state-of-the-art of conductor and magnet technologies. The goal is to illustrate a close synergetic relationship between evolution of high-field magnets and advancement in superconductor technology. The paper is organized in three parts: (1) the basics of RE123 CC fabrication technique, including latest developments to improve conductor performance and production throughput; (2) critical issues and innovative design concepts for the RE123-based magnet; and (3) an overview of noteworthy ongoing magnet projects.