The growth potential for the surrounded industry is enormous. And the way forward is becoming clearer day by day. It‘s time that we start building IoT systems, and provide value to our customers. The IoT is expected to connect 29 of billion “things” to the internet by 2021, range from wearable devices such as smart watches to automobiles, appliances, and industrial equipment. In this paper, we will take a look at different IoT solutions developed so far, their functionalities and technology used and thus conclude the various challenges to be focused on to give way to better solutions that will help the community.