Internet of Things (IoT) is the most familiar technology to the modern society that has actually transformed the physical objects into smart things that are enhanced with capabilities like sensing, decision making and computing. The physical world is assisted by the digital world entirely connected to the global network infrastructure, starting the day with smart alarms and ending the day with smart beds. In today's world the modern humans are now more connected to the non-living objects, because Internet has been a common platform for human beings to interact and now, Internet is being a common thing for the physical objects also. With IoT, the tasks to be performed by humans are being made simpler, made humans go at an ease, navigation and assistance is now at the finger tips. Things in the human world are getting automated in a vast manner, extending from industries to homes, workplaces, classrooms, transport systems, medical fields and many. In this paper, a thorough study is presented on the emerging technology i.e. IoT, addressing how the devices are being the tiny building blocks of large applications, scope of IoT enabled applications, advantages, disadvantages, automation process, then and now era of IoT.