The importance of security in the Internet of Things (IoT) has prompted numerous studies on scalable and modular encryption techniques. It is preferable to use lightweight and specialized cryptographic techniques for many IoT security applications due to the low budget and limited resources of high-volume consumer devices like RFID tags, smart cards, and wireless sensor nodes. This paper provides the detailed analysis of ultra-lightweight cryptographic algorithms (U-LWC) along with the hardware implementation. In this work, extensive classifications of algorithms are studied in terms of their performance metrics pertinent to an Internet of Things (IoT) based smart agriculture. Further, one of the most popular algorithms is implemented and analyzed for IoT application.