Internet of thing (IoT) is the internetworking of physical devices. We extend internet connectivity beyond your standard hardware (laptop, mobile phone etc) to any range of non internet enabled physical devices. We embed these devices with technology which enables these devices to communicate and interact over the internet, and they can be remotely controlled and monitored.
Examples of use are monitoring of smoke alarms, water meters and asset tracking. IoT is a great product for the management of any kind of asset.