This document provides a definition of Internet of Things and digital twin along with a set of terms and definitions. This document is a terminology foundation for the Internet of Things and digital twin. This third edition cancels and replaces the second edition published in 2021. This edition constitutes a technical revision. This edition includes the following technical changes with respect to the previous edition: a) addition of new terms which are used in other ISO/IEC IoT related standards; b) update of some definitions to align with current usage in IoT standards; c) extension of digital twin related vocabularies with title and scope changes