The 2023 Global Hunger Index reports a serious hunger condition in most of the developing countries. In some contexts, the agricultural activities are being transformed by emerging digital technologies such as Internet of Things (IoT) in accordance with the requirements of Agriculture 5.0. The study is a systematic literature review (SLR) in accordance with Preferred Reporting Items for Systematic Reviews and Meta-Analyses (PRISMA) checklist. The SLR involves 34 peer-reviewed articles published in ACM, Springer and IEEE Explore digital libraries between 2020 and 2024. The study’s findings demonstrate that precision technologies such as IoT can address the challenges hindering subsistence farmers from progressing towards agriculture 5.0, The results of the study provide subsistence farmers with guidelines for implementing precision technologies to improve decision making on crop selection, disease detection, yield prediction, nutrient requirements and application. The findings of this research have significant implications on policymakers, researchers, and agricultural stakeholders. The study provides evidence-based policy recommendations to policymakers with an interest in IoT. Furthermore, the study presents a conceptual framework to guide farmers and agribusiness stakeholders to select relevant precision technologies for improving the agricultural activities and direct them towards agriculture 5.0.