Since its first operation, JWST has sparked a revolution in studies of early galaxies
and AGNs owing to its great sensitivity in the infrared wavelength.  JWST/NIRCam
photometric observations have discovered more than 30 galaxy candidates at z>12, and
JWST/NIRSpec spectroscopy has confirmed >200 galaxies at z>4 including 25 galaxies at
z=8.61-13.20. In this talk, I present spectroscopic and photometric constraints on the
UV luminosity functions and cosmic star formation rate densities at z=9-12, which
indicate mild redshift evolution towards z~12 showing tensions with theoretical models
published before the JWST launch.  I also show the discovery of a large number of faint
type-1 broad-line AGNs at z>4 with the black hole masses of 10^6-10^8 Msun, whose number
density is 10-100 times larger than the extrapolation of the ground-based observations
such as Subaru.  Finally, I want to discuss how future space missions will revolutionize
studies of early galaxies in the next 10-20 years.