The Internet of Things (IoT) refers to the network of physical objects, or "things," that are embedded with sensors, software, and other technologies for the purpose of connecting and exchanging data with other devices and the cloud. IoT devices are typically embedded with technology such as sensors and software and can include mechanical and digital machines and consumer objects. An IoT network is a collection of devices such as sensors, gadgets, appliances, and software that communicate with each other and exchange information and data without the need for human intervention.

IoT technology has become one of the most important technologies of the 21st century, enabling seamless communication between people, processes, and things. IoT has been used in various industries to operate more efficiently, deliver enhanced customer service, improve decision-making, and increase the value of the business. Industrial IoT (IIoT) refers to the application of IoT technology in industrial settings, especially with respect to instrumentation and control of sensors and devices that engage cloud technologies.

IoT devices use a variety of technologies to connect the digital and physical worlds, including sensors and actuators that monitor and respond to changes in the environment. IoT applications are collections of services and software that integrate data received from various IoT devices, using machine learning or artificial intelligence (AI) technology to analyze this data and make informed decisions. IoT platforms are used to create and manage applications, run analytics, and store and secure data.

Overall, IoT networks are a crucial component of the digital transformation of business and the economy, enabling new opportunities for companies to innovate products and services, as well as to increase the efficiency of operations.