Organizations are quickly realizing the importance of IoT to their businesses. The IoT is a network of internet-connected gadgets that can gather and transmit data over a network. As it plays a critical part in the digital transformation, the IoT technology has recently progressed from the pilot stage to creating business value. The continued growth of this industry will serve as a digitalization force for all organizations. Healthcare, BFSI, energy, automotive, manufacturing, and transportation are being transformed by the IoT technology platform. As IoT is getting integrated into multiple industries, its market is expected to reach USD 6075.70 Million by 2030, growing at a 19.91 % CAGR between 2022 and 2030.