The agricultural industry plays an essential role in overcoming the food scarcity scenarios for food security globally in the rising population scenario. In the agricultural sector, mechanization has improved various crop production, creating a new era for attaining agricultural precision. With the development of agricultural equipment, conventional usage of farm machinery has lately been changed. The realm of precision agriculture has transformed this breakthrough. The numerous types of high-quality efficient sensors have been used in the field of productive irrigation, fungicides, fertilizers and disease control in diverse plant. This approach has increased agricultural yield therefore reducing production costs. In agriculture, the introduction of Internet of Things (IoT) technology has enabled farmers to relieve themselves by utilizing Smartphone applications and high-speed internet. By comparing the data received from a farm with previously recorded standard charts in the database, these systems offer all the information required for a farmer to manage a crop accurately. In order to guarantee precision in agriculture, this innovation in the automation of agricultural equipment also enables farmers to increase production, solving the world's food crisis. This article examines the progress in the agricultural sector by integrating IoT technology for the precision farming.