Vaulted ceiling style is a common ceiling style for churches or cathedrals, but today, people also use vaulted ceiling style for their house. Most people use it to give a sense that certain rooms in their house are large. This is true because vaulted ceiling style gives optical illusion and deceives our eyes to think that the room is truly spacy.
More than making your room looks larger, vaulted ceiling style also gives strength to your walls and ceilings. Western house style usually use woods to make a vaulted ceiling, like oakwood or pines.
If you like a classy style for your room, you can also use stone and brick. It gives a sense that you are living under a cave and also it makes your house looks like a dome. With the help of certain furnitures or interior designs like lamps, sofas, or wallpapers, it can give a modern touch instead of an old-school sense to your house.
More than that, vaulted shape of your ceiling can be more than just an upside down V letter. You can make a flat ceiling style that looks inclining on its edges, so it is still a vaulted style but with some modification. Or, you can delete any sharp edges that look unavoidable in vaulted ceiling and change it into a curvy, roundy shape. This matches best with stone-material ceiling.