The Internet of Things is simply "A network of Internet connected objects able to collect and exchange data." It is commonly abbreviated as IoT. In a simple way to put it, You have "things" that sense and collect data and send it to the internet.
"The Internet of Things (IoT) is an arrangement of interrelated figuring gadgets, mechanical and advanced machines, items, creatures or individuals that are given one of a kind identifiers and the capacity to move information over a system without expecting human-to-human or human-to-PC cooperation."