The Internet of Things (IoT) refers to the network of physical objects with embedded electronics and sensors that collect and exchange data. The IoT market, projected to grow from 9.1 billion devices in 2013 to 30.73 billion by 2020, faces challenges like security and standardization, which can be addressed through careful planning and analytics. Combining IoT with blockchain (referred to as BIOT) could create new services and enhance functionality, emphasizing the importance of smart technology integration.