Internet of Things (IoT) is a congregation of interconnected physical objects that are linked with unique identifiers and transfer data in the appropriate network without human intervention. It has the promising opportunity to develop powerful industrial applications. To understand the development in industrial IoT, this paper reviews various business values in industrial application, its architecture, related technical elements, benefits and challenges. Even though it delivers many business

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... ues, shop floor visibility, supply chain management, health, safety & environment, predictive maintenance, industrial digit thread, supply chain integration, human machine interface, quality control and big data are discussed in this paper. The major elements related to IoT like Identification, Sensing, communication methodology, computation methods and services are deliberated in this paper. Future research areas are gathered from various literatures and discussed in this paper. The key contribution of this work is to summarize the current contemporary of IoT in industries systematically.