What is IoT and what are its key components?

IoT (Internet of Things) refers to the network of physical devices embedded with sensors, software, and connectivity to exchange data over the internet. Key components: Sensors/actuators collect environmental data and perform actions. Edge devices (microcontrollers) process data locally. Connectivity via WiFi, Bluetooth, LoRa, Cellular, Zigbee. Gateway bridges edge devices to cloud. Cloud platform stores, processes, and analyzes data. Applications/dashboards provide user interfaces. Security measures protect data and devices. Common applications include smart homes, industrial monitoring (IIoT), healthcare wearables, smart cities, and agriculture. Challenges include power management, security, interoperability, and scalability.