Wide Bandgap-(WGB-)based power semiconductors like Gallium-Nitride (GaN) or Silicon-Carbide (SiC) show massive innovation potential for various power electronic applications. These new semiconductor technologies characterized by significantly reduced switching losses enable both, power electronic systems with highest efficiency values and outstanding power densities, meaning a considerable miniaturization of power electronic applications. As a consequence, also the system costs of a large number of applications, like e.g. on-board chargers & DC-DC-converters of automotive EVs, IT-power supplies of data centers and mobile telecom networks (5G and beyond), renewable energy generation/transmission/distribution, medical appliances (CT, MRT, ultrasonics) can be decreased, although the WBG-semiconductor components today show higher costs than their conventional, silicon-based counterparts. Next to the component costs, the comparably rare reliability data of the new WBG-power semiconductors are considered as a last hurdle to be passed before ramping up an industrial large-scale utilization of this groundbreaking technology. This ramp up, moreover would lead to reduced WBG-component costs further accelerating the technology transition.