The Internet of Things (IoT) has become a paradigm shifter, connecting an enormous number of smart devices and facilitating seamless data exchange for a diverse array of applications. The availability and effective use of the IoT ecosystem's resources are key factors in determining how its practical applications will develop as they mature. The IoT resources and their practical application across several areas are thoroughly explored in this paper. The paper begins by classifying and describing the various sensor types, their applications in various fields, and IoT resources, highlighting their contributions to real-time data collection, processing, and transmission. It then goes on to demonstrate a wide range of real-world uses for these resources, such as smart cities, education, agriculture, business, healthcare, environment monitoring, transportation, and industrial automation. However, utilizing IoT resources effectively is not without difficulties. Critical difficulties such as resource allocation, scalability, security, interoperability, and privacy concerns are identified and discussed in the paper. Furthermore, the paper also highlights future directions and emerging trends in IoT resource management, including edge computing, cloud computing, human machine integration, and compatibility with other systems. These developments aim to increase the dependability of IoT applications in diverse settings and optimize resource allocation. This paper's conclusion highlights the crucial role that IoT resources play in advancing real-world applications across a variety of areas. Researchers, practitioners, policymakers, and other stakeholders may collaborate together to effectively leverage the full potential of IoT resources to build intelligent, effective ecosystems that meet the needs of contemporary society by solving difficulties and utilizing developing trends.