In many technical applications, currently focus is on smart coatings for corrosion prevention. In order to meet the demands of various new high-tech applications, this overview covers the most current advancements in the field of functional coatings which overcome conventional uses. The contributions of smart coating that combine many technologies were highlighted. Significance of functional smart coatings were highlighted because of their importance in both industrial and biomedical applications. Several coating types such as metallic, organic, inorganic, and composite were covered briefly. We also covered many forms of smart coating, their mechanisms, formulations for processing, and various treatment methods. conclusion is drawn by considering problems and its prospects for the future, which would be helpful for upcoming researchers. In order to achieve long-term effect in the future, the development direction of smart coating is presented, and potential application possibilities of these smart coatings are examined.