The advent of smart farming represents a pivotal shift in agricultural practices, integrating advanced technologies such as the Internet of Things (IoT), artificial intelligence (AI), robotics, and gene editing to enhance food production efficiency, sustainability, and global food security. This comprehensive review explores the multifaceted dimensions of smart farming, including its implementation across diverse global contexts, the profound impacts on food production, the challenges and concerns associated with its adoption, and the prospective future directions shaped by emerging technologies and innovations. By analyzing case studies and current research, the review highlights how precision agriculture, IoT sensors, and data analytics have significantly increased crop yields and resource use efficiency, underscoring the role of smart farming in promoting sustainable agricultural practices and reducing environmental footprints. However, the adoption of smart farming technologies is not without challenges, including technical limitations, data privacy and security concerns, socio-economic and ethical considerations, such as job displacement and animal welfare. The review also discusses the crucial role of government policy, international collaboration, and education in facilitating the adoption of smart farming technologies and addressing these challenges. As the agricultural sector stands on the brink of a technological revolution, this review emphasizes the need for continuous innovation, robust support frameworks, and inclusive strategies to ensure that the benefits of smart farming are realized equitably across the global agricultural landscape, paving the way for a more sustainable and secure food future.