Advances in wireless communication are forging new possibilities for sensors. New sensors are equipping major systems around us with unparalleled intelligence as in the case of smart grids, smart homes, and driverless vehicles. Considering the current developments in the field of sensor networks, one feels that it has reached an interesting stage, where the role of the sensors becoming crucial in numerous applications. This all speaks volumes of the fact that sensors are going to be at the front and center of most of future technologies, needless to say the Internet of Things. Considering their vital role from futuristic perspective this survey reports variety of sensors along with their characteristics and applications, which impact human life and well-being. In addition, this survey considers recent prototypes, leading sensor manufacturers as well as major projects that have made use of sensors since the last decade. Moreover, significance of this effort is that integration possibilities of sensors with other networks and major technologies are discussed, while possible challenges and key benefits are highlighted. This research effort focuses the latest developments in the area of sensors and sensor networks as research gears up to meet the challenges of the emerging technologies and their applications particularly those that emphasize smart sensors.