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Abstract:Hyperspectral Image Classification (HSC) is a challenging task due to the high dimensionality and complex nature of Hyperspectral (HS) data. Traditional Machine Learning approaches while effective, face challenges in real-world data due to varying optimal feature sets, subjectivity in human-driven design, biases, and limitations. Traditional approaches encounter the curse of dimensionality, struggle with feature selection and extraction, lack spatial information consideration, exhibit limited robustness to noise, face scalability issues, and may not adapt well to complex data distributions. In recent years, Deep Learning (DL) techniques have emerged as powerful tools for addressing these challenges. This survey provides a comprehensive overview of the current trends and future prospects in HSC, focusing on the advancements from DL models to the emerging use of Transformers. We review the key concepts, methodologies, and state-of-the-art approaches in DL for HSC. We explore the potential of Transformer-based models in HSC, outlining their benefits and challenges. We also delve into emerging trends in HSC, as well as thorough discussions on Explainable AI and Interoperability concepts along with Diffusion Models (image denoising, feature extraction, and image fusion). Lastly, we address several open challenges and research questions pertinent to HSC. Comprehensive experimental results have been undertaken using three HS datasets to verify the efficacy of various conventional DL models and Transformers. Finally, we outline future research directions and potential applications that can further enhance the accuracy and efficiency of HSC. The Source code is available at \href{https://github.com/mahmad00/Conventional-to-Transformer-for-Hyperspectral-Image-Classification-Survey-2024}{github.com/mahmad00}.