This article delves into a comprehensive comparative analysis of two prominent third-generation semiconductor materials, silicon carbide (SiC) and gallium nitride (GaN). It explores their foundational theories, practical applications, future prospects, and the hurdles they face in the realm of materials science. SiC is characterized by its impressive thermal conductivity and a wide bandgap, while GaN showcases remarkable electron mobility and high electron saturation velocity. Both materials have demonstrated outstanding capabilities in high-temperature, high-frequency, and high-power electronic devices, finding utility in power conversion, automotive systems, and optoelectronics. Looking forward, SiC and GaN hold tremendous potential in emerging fields such as new energy sources, advanced optoelectronic devices, and semiconductor packaging. Nevertheless, they encounter challenges, including manufacturing costs and the control of crystal defects. In conclusion, these third-generation semiconductors offer extensive possibilities across various domains, although overcoming significant challenges is essential for their widespread integration.