Precision agriculture (PA) is an information-based production technology that manages spatial and temporal variability within a farming system to optimize its productivity and profitability while ensuring the sustainability of land resources. Today, several sophisticated technologies such as robotics, wireless sensor networks (WSN), aerial images, a global positioning system (GPS), global navigation satellite system (GNSS), smart mobile devices, internet of things (IoT), variable rate application (VRA), weather modelling, radio-frequency identification (RFI) are greeted with PA at a global scale. An exponentially increasing trend in adoption can be seen in developed countries such as the USA, Canada, Australia, and European countries, but to a limited extent in some developing countries. The degree of adoption of PA varies on economic, social, and geographic factors such as the scale of production, input cost, and features of the technology. Developing economies like Sri Lanka, where small-scale food crop agriculture is dominating, have the potential to benefit from precision agricultural technologies (PATs) to a greater extent. Relatively low-cost but effective PATs that would fit well with small-farm production units are emerging globally. Providing small farming units with the correct tools and greater control of the production process would support such farming communities, unlocking their potential and meeting the ever-increasing national and global food demand. Land laser levelling, real-time variable-rate fertilizer and pesticide application, mechanical harvesting and low-cost IoT-based crop management systems for protected agriculture are the most promising PATs that have great potential in Sri Lanka. This review presents a global overview of PA technologies for enhancing food crop production and their benefits, the adoption of PA technologies by different countries and the constraints, and the role of PA in Sri Lankan Agriculture, past and present. Finally, the synthesis and way forward.