Global agricultural productivity and food security are threatened by climate change, the growing world population, and the difficulties posed by the pandemic era. To overcome these challenges and meet food requirements, breeders have applied and implemented different advanced techniques that accelerate plant development and increase crop selection effectiveness. However, only two or three generations could be advanced annually using these approaches. Speed breeding (SB) is an innovative and promising technology to develop new varieties in a shorter time, utilizing the manipulation of controlled environmental conditions. This strategy can reduce the generation length from 2.5 to 5 times compared to traditional methods and accelerate generation advancement and crop improvement, accommodating multiple generations of crops per year. Beside long breeding cycles, SB can address other challenges related to traditional breeding, such as response to environmental conditions, disease and pest management, genetic uniformity, and improving resource efficiency. Combining genomic approaches such as marker-assisted selection, genomic selection, and genome editing with SB offers the capacity to further enhance breeding efficiency by reducing breeding cycle time, enabling early phenotypic assessment, efficient resource utilization, and increasing selection accuracy and genetic gain per year. Genomics-assisted SB holds the potential to revolutionize plant breeding by significantly accelerating the identification and selection of desirable genetic traits, expediting the development of improved crop varieties crucial for addressing global agricultural challenges.