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Applications and technologies of the Internet of Things are in high demand with the increase of network devices. With the development of technologies such as 5G, machine learning, edge computing, and Industry 4.0, the Internet of Things has evolved. This survey article discusses the evolution of the Internet of Things and presents the vision for Internet of Things 2.0. The Internet of Things 2.0 development is discussed across seven major fields. These fields are machine learning intelligence, mission critical communication, scalability, energy harvesting-based energy sustainability, interoperability, user friendly IoT, and security. Other than these major fields, the architectural development of the Internet of Things and major types of applications are also reviewed. Finally, this article ends with the vision and current limitations of the Internet of Things in future network environments.