Speed breeding (SB) has emerged as a technology that helps in developing new, improved crop varieties by dramatically shortening the time period taken for their generation. This is achieved by optimizing environmental parameters such as photoperiod, temperature and soil moisture. This process enables the development of multiple generations per year, thereby speeding up the development of homozygous lines and elite cultivars. Integration with modern molecular tools, including marker-assisted selection (MAS) and genomic selection (GS) with SB, enhances the precision and efficiency of trait selection, leading to faster genetic gain. Despite these advantages, adoption of this technique faces challenges such as infrastructure demands, shortage of skilled personnel, energy requirements and regional disparities in technology access. Addressing these bottlenecks through targeted investment, capacity building and policy support is required to harness SB technique for global food security. This review elucidates the principles, applications and limitations of SB and highlights its pivotal role in modern plant breeding and sustainable agriculture.