Idea in (IoT) sounds good, but the million $$$ question is whether the idea is patentable and making sure you are not infringing upon someone's patented technology.

Having said that, you need to identify your business model. For example, are you planning to launch your product in domestic market or you plan to launch it in one or more countries.

1st step should be to make sure your idea is novel, non-obvious and has industrial applicability to be patent worthy.
You need a worldwide patentability search to determine whether your idea is patent worthy.

Patent Searching Tips:
-Identify International Patent Classifications (IPCs) and US Patent Classifications of your technology
-Identify important Keywords and Synonyms
- Perform Keyword based patent searching
- Narrow it with International Patent Classifications (IPCs) & Cooperative Patent Classification (CPC) based patent searching
- Identify Main Assignees and perform search
-Identify Main Inventors and perform search
– Combination of Keywords in different fields of search, Identified patent classes (IPC, USPC and CPC), Assignees and Inventors
This will provide you a fair idea about the novelty of your system and method in IoT space.

To know more about Freedom to Produce, read the below article:
https://www.linkedin.com/pulse/freedom-operate-get-patent-opinion-your-researched-us-prity-khastgir

I hope this information helps you to determine feasibility of your innovation.