The agricultural sector plays a critical role in Bangladesh’s rapid economic growth, as 50% of the population directly depends on the industry for their livelihood. This article provides an overview of the global state of IoT-based smart agriculture today, with a focus on how control activities and powering the entire cultivation and irrigation process are carried out. We also looked at the various tools and technology employed in IoT-based smart agriculture and their potential to advance Bangladesh’s agricultural industry. More than 70% of the country’s land is used for agricultural production. Bangladesh is regarded as a nation particularly vulnerable to climate change, with its agricultural sector frequently being devastated by natural calamities. IoT-based smart agriculture has the potential to drastically alter Bangladesh’s agricultural industry by lowering risks, increasing productivity, and boosting resistance to climate change. The bulk of people working in the agricultural industry should raise their level of life by embracing the era of Internet of Things (IoT)-based smart agriculture. To do this, the electricity needed for the monitoring and management of IoT-based smart agriculture will need to be supplied by renewable energy sources. Given that agriculture plays a significant part in Bangladesh’s economy and that this technology is being embraced globally in this sector, it is imperative that Bangladesh address its issues and make the necessary preparations to ensure that it is going forward in a sustainable manner.