A system-on-a-chip (SoC) is a microchip with all the necessary electronic circuits and parts for a given system, such as a Smartphone or wearable computer, on a single integrated circuit (IC). Let say for example for an Iris scanner, it includes a microcontroller, an encoder and a decoder, memory, Input output logic control for a user on a single chip. Intel’s Curie, a SoC based on the Intel Quark SE, is the size of a shirt button but includes everything required to provide compute power for wearable devices.
Internet of Things represents a general concept for the ability of network devices to sense and collect data from the world around us, and then share that data across the Internet where it can be processed and utilized for various interesting purposes.
Some also use the term industrial Internet interchangeably with IoT. This refers primarily to commercial applications of IoT technology in the world of manufacturing. The Internet of Things is not limited to industrial applications, however.