just like internet has changed the way we work & communicate with each other,by connecting us through the world wide web(internet), IOT also aims to take this connectivity to another level by connecting multiple devices at a time to the internet thereby facilitating man to machine and machine to machine interactions.
people who came up with this idea,have also realized that this IOT ecosystem is not limited to a particular filed but has business applications in areas of home automation,vehicle automation,factory line automation,medical,retail,healthcare and more.