The Internet of Things (IoT) is revolutionizing computing by introducing networked devices into our daily lives that acquire and analyze information to serve an ever-increasing number of services and human life. It is about connecting everyday objects to the internet and letting them communicate with each other including human being. The Internet of Things (IoT) makes technologies smarter by enabling automation, personalisation, and remote control via networks of Internet-connected sensors. At the same time, IoT technologies raise significant privacy concerns, which may hinder their wider adoption. IoT applications range from smart homes and wearable gadgets to industrial automation, agriculture, healthcare, transportation, ecosystem, warfare, business, education, so on. The IoT has the potential to completely transform our lives by enabling smarter, more connected, flexible, more relax, and more efficient systems. IoT has the potential to develop industries efficiency, increase productivity, and improve our daily lives. IoT will influence more in technology, and more things will become internet-connected in future. It is an analytical paper to depict the influence of IoT on technologies and devices in our usual life, business, industry and other sectors along with challenges and suggestions for best harvest in 21st century.