The "Internet of Things" (IoT) refers to the connectivity of physical objects to the internet. Recent developments in smart technology allow everything from wrist watches to industrial equipment to establish a wireless internet connection. This is an evolution of machine-to-machine (M2M) communication. Greater connectivity allows businesses to passively generate and collect data as well as automate more industrial and manufacturing processes.
A comprehensive list of possible applications and a description of the technology required for these IoT applications can be found in chapter 7 & 8 of Internet of Things - Global Technological and Societal Trends.
Take a look at the internet resources if you need an in-depth overview of IoT.
1. Review the suggested chapters to help you select a market segment and develop product ideas.
2. Use the books to familiarize yourself with the technology required to implement your idea.
3. Search the suggested databases to conduct product research and find market data.
*The internet resources tab may also help you generate ideas. The page includes reports from companies that have conducted their own market analysis or currently have IoT products under development.