Abstract—The Internet is continuously changing and evolving. The main communication form of present Internet is humanhuman. The Internet of Things (IoT) can be considered as the future evaluation of the Internet that realizes machine-to-machine (M2M) learning. Thus, IoT provides connectivity for everyone and everything. The IoT embeds some intelligence in Internetconnected objects to communicate, exchange information, take decisions, invoke actions and provide amazing services. This paper addresses the existing development trends, the generic architecture of IoT, its distinguishing features and possible future applications. This paper also forecast the key challenges associated with the development of IoT. The IoT is getting increasing popularity for academia, industry as well as government that has the potential to bring significant personal, professional and economic benefits. Keywords-Internet of Things, ubiquitous computing, RFID, IoT architecture, IoT applications, IoT security.