The high potential impact on people and the way of interaction with things makes IOT as anmost widely accepted technology. The IOT technology implements the human imagination into reality. The usage of IOT products not only attracts the individual but manybusiness enterprisesis coming forward to implement IOT technology.In earlier days only computers has been connected to internet and data was transferred from one computer to another. Then laptops and smart phones are connected for easy communication. In next evolution people are being connected to each other through internet. Now a days internet are being connected to each and every things like Consumer products, durable goods, cars and trucks, industrial and utility components, sensors and other everyday objects. IOT is being considered to be third wave which connects devices, people environment, virtual objects and machines. The internet connectivity to these objects are connected to powerful data analytic capabilities which is capable of transforming the collected data and store for future use. Simply IOT devices will change the way in which people work and live in the future. In order to maintain the business process IOT are even used in the companies. This IOT will helps in bringing changes in interaction of business, government and consumer with the physical world. The main objective of this paper is to reveal the application of IoT’s in various industries. Further in addition to that the article also discusses about the benefits of this emerging technology with its limitations.