Smart greenhouses serve as panacea of hope to ensure sustainability in agricultural production system and combat the challenges induced by global climate change. The emergence of Internet of Things (IoT) for advancement in embedded systems, artificial intelligence (AI) for projective analysis, and machine learning (ML) algorithms for automation has enabled to create a microclimate in the smart greenhouses. The microclimate-based system can monitor the crop growth, identify the diseases, control the nutrient supply, regulate irrigation water, manage ventilation, and adjust the heating/cooling system to maintain optimum conditions for plant growth. These systems are powered by solar modules and wind turbines, leveraging toward smart farming and deviating from conventional on fossil fuels. Advanced algorithms and artificial intelligence are used for weather forecasts to take informed decisions about cultivation, irrigation, spraying, and harvesting operation. The smart greenhouse production system ensures the production of crops round the clock. However, there are certain challenges like efficiency of solar panels, shading issue, cost, durability of sensors, and reliability of automatic system that needs immediate attention and strong R&D for redressal. The success of the smart greenhouse system can propel the growth, ensure the efficient utilization of resources, and decrease the dependency on manual labor. The technology of smart greenhouse can ensure round-the-year production, particularly for harsh regions of the globe. It can be an option for food security, sustainability, and environmental stability.