Optical low-coherence interferometry is one of the most rapidly advancing measurement techniques. This technique is capable of performing non-contact and non-destructive measurement and can be used not only to measure several quantities, such as temperature, pressure, refractive index, but also for investigation of inner structure of a broad range of technical materials. We present theoretical description of low-coherence interferometry and discuss its unique properties. We describe an OCT system developed in our Department for investigation of the structure of technical materials. In order to provide a better insight into the structure of investigated objects, our system was enhanced to include polarization state analysis capability. Measurement results of highly scattering materials e.g. PLZT ceramics and polymer composites are presented. Moreover, we present measurement setups for temperature, displacement and refractive index measurement using low coherence interferometry. Finally, some advanced detection setups, providing unique benefits, such as noise reduction or extended measurement range, are discussed.