Elemental and compound semiconductors, including widebandgap semiconductors, are critically examined for high-power electronic applications in terms of on-state resistance, power loss caused by junction leakage, heat conduction, radiation hardness, high-frequency performance, and high-temperature operation. Based on a new analysis applicable to a wide range of semiconducting materials and by using the available measured physical parameters, it is shown that widebandgap semiconductors such as SIC and diamond could offer significant advantages compared to either silicon or group 111-V compound semiconductors for these applications. The new analysis uses peak electric field strength at avalanche breakdown as a critical material parameter for evaluating the quality of a semiconducting material for highpower electronics. Theoretical calculations show improvement by orders of magnitude in the on-resistance, twentyfold improvement in the maximum frequency of operation, and potential for successful operation at temperatures beyond 600°C for diamond high-power devices. New figures of merit for power-handling capability that emphasize electrical and thermal conductivities of the material are derived and are applied to various semiconducting materials. It is shown that improvement in power-handling capabilities of semiconductor devices by three orders of magnitude is feasible by replacing silicon with silicon carbide; improvement in power-handling capability by six orders of magnitude is projected for diamond-based devices.