Smart cities and homes are rapidly integrating Internet of Things (IoT) technology, with a projected rise from 1.1 billion Internet-enabled items in 2015 to 9.7 billion by 2020, according to a Gartner report. This growth is driven by the private sector's investment in IoT, which is transforming urban infrastructure and residential environments through smart buildings, roads, and public transport systems equipped with real-time sensor networks. Key applications include traffic management, smart parking, and the proliferation of smart home devices such as LED lighting, healthcare monitors, and security systems. The report highlights the significant economic potential for technology companies, predicting substantial revenue growth from IoT services and software, and noting that by 2020, the smart healthcare and fitness market is expected to reach nearly $38 billion.