Smart farming practices can make a difference regarding economic, environmental and social impact in comparison to conventional techniques. Nowadays, there are several commercially available smart farming technologies (SFT), which can record and map different crop needs and also act on these needs. Such technologies are described in this chapter together with their impact on pricing (where available) and economic benefit from their in-field use – either in reduction of input use or yield increases. Findings from this chapter highlight some of the potential benefits and savings from site-specific application of inputs, including fertilizer and pesticides as well as potential benefits from autosteering and section control. All of these technologies are based on SFT, which requires different sensors, mapping technologies and advanced decision support making. A successful product commercialization needs to follow those systems that have proven a high technology readiness level. This chapter provides a conceptual background description regarding innovation and diffusion of SFT. These descriptions demonstrate the complex interdependencies of positively influencing factors with special attention to the involved actors and their interaction sequences. Furthermore, this chapter presents the process timeline for the development and the implementation of two systems that reached the market effectively. Finally, adoption of SFT and precision farming in particular are discussed, along with how SFT can benefit the environment and how SFT can fit into the common global trends.