The concept of "Internet of Things (IoT)", which is on our agenda with the Industry 4.0 trend and we frequently meet in many parts of daily life, is a holistic concept that expresses all the objects (things) connected to the internet through a network. With the impact of artificial intelligence, big data and network technologies, the IoT affects and transforms almost every segment of the society, from individuals to organizations. In order to keep up with this transformation, it is very important to understand this transformation. The main purpose of this study is to examine the available literature about the impact of digital transformation on businesses, especially for the IoT. In the research, content analysis method, an inductive approach, was used as a qualitative research method. Thus, it is aimed to contribute to the literature by examining the effects, benefits and difficulties of this radical change, also called digital transformation. As a result of the examining, it has been evaluated that the national studies are less compared to the international studies; therefore, studies in the country are not enough despite the current in the world. In addition, the majority of current studies in both national and international literature are in computer and engineering sciences and the interest in the subject in social sciences is much lower. Based on these findings, the general approach and attitude about IoT and digital transformation of business in Turkey and the worldwide have been tried to be revealed. In addition, advice and suggestions were made to individuals, researchers, organizations, institutions and non-governmental organizations about the benefits, disadvantages and difficulties of this digital transformation.