Smart farming’s aim is to enhance the general capabilities of traditional farming using advanced and latest technologies like Artificial Intelligence (AI), Internet of Things (IoT), etc., and implementing it to industry-based technology for getting real-time information. A systematic approach to farm-based equipment needs to be used to increase production in agriculture as well as its quality. Smart farming is a low-labor and low-cost implementation method leading to an overall reduction of agricultural expenses. It helps to produce better quality and higher yield crops, leading to higher demand and prices, thus resulting in more profitability for farmers. The modern techniques of farming use technological instruments that are able to monitor environmental conditions suitable for a particular type of crop. These technological instruments offer numerous benefits, viz. increase in efficiency, cost reduction, and improvement in crop yields. Still, the implementation of the above technologies raises important social, ethical, and environmental concerns that need to be addressed. This paper focuses on various sensors and technologies deployed in smart farming. In addition, it highlights some of the challenges faced while implementing these technologies and their aftereffects.