Wide and ultrawide-bandgap (U/WBG) materials have garnered significant attention within the semiconductor device community due to their potential to enhance device performance through their substantial bandgap properties. These exceptional material characteristics can enable more robust and efficient devices, particularly in scenarios involving high power, high frequency, and extreme environmental conditions. Despite the promising outlook, the physics of UWBG materials remains inadequately understood, leading to a notable gap between theoretical predictions and experimental device behavior. To address this knowledge gap and pinpoint areas where further research can have the most significant impact, this review provides an overview of the progress and limitations in U/WBG materials. The review commences by discussing Gallium Nitride, a more mature WBG material that serves as a foundation for establishing fundamental concepts and addressing associated challenges. Subsequently, the focus shifts to the examination of various UWBG materials, including AlGaN/AlN, Diamond, and Ga2O3. For each of these materials, the review delves into their unique properties, growth methods, and current state-of-the-art devices, with a primary emphasis on their applications in power and radio-frequency electronics.