The present review aims to summarize the more recent scientific literature and updated state of the art on the research effort spent in adapting hardware–software tools to understand the true needs of honeybee colonies as a prerequisite for any sustainable management practice. A SWOT (Strengths, Weaknesses, Opportunities, and Threats) analysis was also performed with the aim of identifying the key factors that could support or impair the diffusion of precision beekeeping (PB) systems. Honeybee husbandry, or beekeeping, is starting to approach precision livestock farming (PLF), as has already happened in other animal husbandry sectors. A transition from the current paradigm of rational beekeeping to that of precision beekeeping (PB) is thus expected. However, due to the peculiarities of this species and the related farming practices, the PB technological systems (PB systems) are still undergoing a development process that, to some extent, limits their large-scale practical application. Several physical–chemical (weight, temperature, humidity, sound, gases) and behavioral traits (flight activity, swarming) of the hive are reviewed in light of the evolution of sensors, communication systems, and data management approaches. These advanced sensors are equipped with a microprocessor that records data and sends it to a remote server for processing. In this way, through a Wireless Sensor Network (WSN) system, the beekeeper, using specific applications on a personal computer, tablet, or smartphone, can have all the above-mentioned parameters under remote control. In general, weight, temperature, and humidity are the main hive traits monitored by commercial sensors. Surprisingly, flight activity sensors are rarely available as an option in modular PB systems marketed via the web. The SWOT analysis highlights that PB systems have promising strength points and represent great opportunities for the development of beekeeping; however, they have some weaknesses, represented especially by the high purchasing costs and the low preparedness of the addressed operators, and imply some possible threats for beekeeping in terms of unrealistic perception of the apiary status if they applied to some hives only and a possible adverse impact on the honeybees’ colony itself. Even if more research is expected to take place in the next few years, indubitably, the success of commercial PB systems will be measured in terms of return on investment, conditioned especially by the benefits (higher yields, better colonies’ health) that the beekeeper will appraise as a consequence of their use.