This chapter comprehensively surveys the six aspects of the 5G and future 6G internet of things (IoT). First, most of the 5G- and 6G-IoT usage scenarios and key performance indicators are summarized in the forms of tables, pictures, and diagrams to facilitate readers to understand and compare current and future IoT technologies more easily and quickly. Second, 5G- and 6G-IoT access networks, protocols, and standards were briefly analyzed and compared, such as coverage, transfer data speed, energy consumption, operating frequency, and the number of device connectivity. Third and fourth, the impact of 6G-IoT on society's daily life and industry operation, as well as its underlying research were described. Fifth, five types of 6G-IoT challenges were analyzed and discussed in detail in this chapter, namely transmission path loss at THz, wireless network coverage, transfer data rate, latency, security, privacy protection, and energy-efficient and reliable devices/services. Finally, the latest nine IoT business models are described and summarized in tabular form.