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Abstract- Information technology is creating a revolution among the products. The products which were once only made up of mechanical and electrical parts are now a combination of hardware, sensors, cloud, controllers, software and internet connectivity. These products have unleashed an era of smartness. They have the capability to connect everything, everyone and everywhere. IoT is the everlasting concept of connecting things through internet connectivity. IoT provides connectivity beyond the traditional devices like desktop, laptops, smartphones and tablets to a wide variety of things used every day and uses embedded technology to connect with external surroundings. This technology allows devices to create exchange and use data automatically without human interruptions. The Smart products have three essential components: physical components such as physical products, and smart component such as sensors, microprocessors etc., and connectivity component such as ports, Antennae etc. These components are interdependent and strengthen each other�s capabilities. The smart products excel in four areas: monitoring, controlling, optimization and autonomy. These products can self-coordinate and function with complete autonomy. Human managers can focus on system�s performance rather than single units, hence increasing experience and effectiveness. IoT based solutions when introduced in business, result in higher quality products, which are according to the conformance of standards. In this study, by understanding the process of IoT solutions by building prototypes of IoT using the hardware components required, in the areas of Automated Street light system (ASLS) which uses sensors and gets switched ON and switched OFF when it senses movement, Smart irrigation system (SIS) is a sensor based irrigation system which irrigates the land whenever the moisture content falls below the required threshold value and Voice controlled home automation system (VCHAS) which uses speech to text in order to convert speech information into text. This system can switch ON or OFF the bulb, fans, AC, Fridges and other electronic appliances through voice instructions and testing them. The data returned by the system through smart devices gives managers visibility to analyze the results which leads them to quick decision making and forecasting the future necessity. The smart products raise the value for the consumers by decreasing operating costs, increasing efficiency and improving output. The potential benefits of data generated by the IoT sensors has been unfolded using machine learning techniques .These techniques have been used on moisture content data of 15 villages generated by the sensors,in order to identify drought in early stages. This study focuses on implementation of IoT prototypes only on the chosen areas, which are smart irrigation system, automated street light system and voice controlled home automation system. The machine learning techniques such as Auto regressive models (AR), Artificial Neural Networks (ANN), and Support Vector Machines (SVM) on these applications. The study is restricted to the only selected solutions of IoT in few operation scenarios.