The rapid evolution of technology across various sectors, including individual, governmental, and nongovernmental IoT solutions, has resulted in significant shifts in data privacy requirements. These changes in regulations, policies, and procedures regarding data privacy have adversely affected security concerns, encompassing regulatory compliance, privacy protection, and security measures within In-house IoT software development companies. Therefore, the study aims to explore IoT privacy issues from the perspectives of in-house IoT software development companies and security, involving the collection of privacy concerns to gain new insights into challenges from various perspectives. To achieve this, we conduct a systematic review following the PRISMA approach to identify, evaluate, and interpret IoT privacy issues. We applied inclusion and exclusion criteria, focusing on accepting research papers for investigation published between 2015 and 2024. Out of 720 papers, 38 peer-reviewed articles were accepted. The primary classification of IoT privacy issues was as follows: 54% were related to management, 8% to organizational factors, 14% to environmental concerns, and 24% to technological aspects, MOTE Factors. Besides, we illustrate the associations between MOTE factors and security factors to avoid key conflicts at in-house IoT software development companies. Most explored articles were published between 2018 and 2024, illustrating an increasing interest among researchers in contributing to IoT privacy issues.