Recent surge of interest in Widebandgap Semiconductor (WBG) is attributable to demonstration of blue laser diodes which pave the way for many applications such as displays, solid state lighting, and optical storage. Not only the materials have many favorable optical properties but also they have attractive electronic, mechanical and thermal properties for high temperature, power and frequency applications. The most attractive properties of WBG as a semiconductor are its bandgap, large exciton binding energy, a very efficient radiative recombination process and a high saturation velocity. Through the development and exploitation of the material, device, and circuit properties of widebandgap semiconductors, many new exciting applications and capabilities can be envisioned. Pursuit of widebandgap semiconductor materials research will revolutionize semiconductor industry in the fields of displays, lighting, high power electrical energy. In addition potential nanotechnology applications will be discussed.