The number of things connected to the Internet and it is rapidly growing at the rate of 30 percent from this year to next, for a total of 4.9 billion, according to a new report from market research firm Gartner, and will hit 25 billion by 2020. Along with the growth in the number of devices, Gartner predicts an increase in total spending on the Internet of Things (IoT) to raise from $69.5 billion next year to $263 billion in 2020. We will implement these things with our BPO Simulation.

The Internet of Things, can be a individual with a heart monitor for fitness care, implant, a farm animal with a biochip transponder to access the required data, a car that has built-in IOT sensors to alert the driver when tire pressure is low -- or any other natural or man-made object that can be assigned an IP address and provided with the ability to transfer data over a network.

The Internet of Things is also a machine-to-machine (M2M) communication in manufacturing industries and power plants, oil and gas plants, etc. Multiple IOT applications based on Internet of thing are growing exponentially day by day.

In a world where IT has become the backbone of business worldwide, “Outsourcing” is the process through which one company hands over part of its work to another company, making it responsible for the design and implementation of the business process under strict guidelines, regarding requirements and specifications from the outsourcing company.

The Internet of Things (IoT) is the most promising area which penetrates the advantages of Wireless Sensor and Actuator Networks (WSAN) and Pervasive Computing domains. Different applications of IoT have been developed and researchers of IoT well identified the opportunities, problems, challenges and the technology standards used in IoT such as Radio-Frequency IDentification (RFID) tags, sensors, actuators, mobile phones, etc. This paper is of two fold, the first fold covers the different applications that adopted smart technologies so far. The second fold of this paper presents the overview of the sensors and its standards.