This paper starts from the industrial structure and characteristics of the Internet of Things and compares and analyzes the development ideas of the Internet of Things industry in the market economy under different systems. We also discuss IoT business model innovations and analyze the inadequacies of current IoT business models. We use the cost-benefit analysis method to analyze, from the aspects of social benefits, economic benefits, environmental benefits, and externalities. In this paper, factor analysis and quantitative statistics are used to calculate the weight of influencing factors, and the multilevel fuzzy evaluation method is used to score the influencing factor indicators to calculate the final score result, so as to judge the applicability of the multilevel fuzzy evaluation method to judge the profit model. In order to verify whether the establishment of economic regions plays a positive role in regional economic development, a double-difference model is established. Two sets of data from the Free Trade Zone and Hainan Free Trade Zone are selected for regression analysis, and robustness tests of various methods are carried out. This paper regresses various samples of the Hainan Free Trade Zone by region and city level to explore their characteristics in different regions. From the empirical results, it can be seen that the establishment of the Hainan Free Trade Zone has indeed promoted the economic development of the region where it is located, and this result is still significant after repeated robustness tests. Judging from the regression results by region, the establishment of the Hainan Free Trade Zone has a greater role in promoting the economic development of the eastern and western regions and it has a stronger pulling effect on the western regions than in the western regions. The policy effect of establishing a free trade zone may not be significant due to too few samples and short establishment time.