Real-time detection of hazardous gases in the ambient and indoors has become the prime motive for curbing the problem of air pollution. Keeping the concentration of hazardous gases in control is the main task before human society so as to keep environmental balance. Smart sensors are attracting researchers to focus on fabricating devices that could detect and predict the presence of gas in real-time, give accurate results about the gas concentration, detection of a target gas from the mixture of gases. This smart gas sensor system can have applications in the field of military, space, underwater, indoor, outdoors, factories, vehicles, and wearable smart devices. This study reviews recent advances in smart sensor technology with respect to the material structure, sensing technique, and discrimination algorithm. Focus is given on reducing the power consumption and area of a sensor circuitry with the help of different techniques.