The Internet of Things (IoT) is the network of things (physical devices, vehicles, home appliances, and other items embedded with electronics, software, sensors, actuators) connected through internet which enables these things to exchange data. This creates opportunities for more direct integration of the physical world into computer-based systems, resulting in efficiency improvements, economic benefits, and reduced human exertions.
In simple terms we can say IoT is a system of things integrated with sensors, softwares, electronics which are connected to each other & can exchange data or Information with other connected devices.
The main pillars of IoT projects or IoT solutions are
some of IoT project are listed here.
IoT is used in smart home industry, autonomous car/devices, farming, healthcare, retail and iot along with blockchain , artificial individuals is a going to change the world. Refer Future IoT trends for more info.