IoT is a synonym for the Internet Of Things which means a network of physical objects—devices, vehicles, buildings, items, assets and other "things".

IoT is a synonym for the Internet Of Things which means a network of physical objects—devices,home appliances, vehicles, buildings, items, assets and other "things" and even people embedded with RFID tags, and use of electronics, software, sensors, actuators and with connectivity, which enables these things to connect and exchange critical and vital information data, creating opportunities for more direct integration of the physical world into computer-based systems, resulting in efficiency improvements, economic benefits and reduced human exertions.

The number of Internet of Things (IoT) devices increased 31% year-over-year to 8.4 billion in 2017 and it is estimated that there will be 30 billion devices by 2020. The global market value of IoT is projected to reach $7.1 trillion by 2020.

How Does This Impact You
Simply put, Internet Of Things (IoT) is the concept of connecting any device to the Internet and/or to each other. Analysts from Gartner say that by 2020 there will be over 26 billion connected devices and many will be using RFID tags/labels as identifiers. Being so, the IoT is a giant network of connected “things” whereby the relationship will be between people-people, people-things, and things-things, thereby providing access to information and data never seen before in history, and with use of artificial intelligence (AI), we are entering a new era, termed as Industry 4.0. This will complete change the way we live ! This is what I would call a technologicial revolution cubic (3) TM !