Carrier conduction in wide bandgap semiconductors (WBS) often exhibits velocity saturation at the high-electric field regime. How such effects influence the transition between contact-limited and space-charge-limited current (SCLC) in a two-terminal device remains largely unexplored thus far. Here, we develop a generalized carrier transport model that includes contact-limited field-induced carrier injection, space charge, carrier scattering, and velocity saturation effect. The model reveals various transitional behaviors in the current–voltage characteristics, encompassing Fowler–Nordheim emission, trap-free Mott–Gurney (MG) SCLC, and velocity-saturated SCLC. Using GaN, 6H–SiC and 4H–SiC WBS as examples, we show that the velocity-saturated SCLC completely dominates the high-voltage (102–104 V) transport for typical sub-μm GaN and SiC diodes, thus unraveling velocity-saturated SCLC as a central transport mechanism in WBG electronics.