The IoT should be thought of the next big internet wave and it is happening as we speak. First there were static websites, then mobile devices and now billions of THINGS are going to be connecected to the web; Cars, refrigerators, themostats, homes, smart phones, etc. Here is a video explanation by Goldman Sachs. The Global Investment Research [GIR] division at Goldman Sachs explains how bringing the Internet of Things is a reality and they are calling it the "Third Wave of the Internet!"