The non-judicious use of water at the farm level in traditional irrigation application methods is a present-day concern across the world that can be resolved by enhancing application efficiency through the adoption of advanced irrigation techniques. Sprinkler irrigation is a method that has high application efficiency, which can be further increased when coupled with automation toward precision irrigation. The objectives of this review are to summarize the main aspects of sprinkler and precision irrigation and their development, scope, and future prospects specifically in Asian countries. In this paper, a modified methodology, inspired by PRISMA guidelines, was used to explore the available literature to summarize the existing knowledge in the field. Regarding the technological aspects of the analyzed works, it became evident that sprinkler systems are an efficient method to not only irrigate crops (with 39% water saving) but also for the application of fertilizers with higher efficiency (>35%) and water productivity (>14.1%) compared with gravity irrigation systems. Moreover, this paper highlights the prominent features of precision irrigation for maximizing agricultural productivity. The use of sprinkler irrigation with precision applications using automation with a sensor-based mechanism for field data collection, data transformation, data analysis, and operation of IoT-based automatic solenoid valves can save 20–30% more irrigation water and increase crop yield by 20–27%. An analytical understanding and knowledge of the field were used to draw conclusions that are thought-provoking for scientists, researchers, and other stakeholders.