Earlier studies on IoT have tested the technical matters of applying the IoT technology, however, little attention has been devoted in identifying factors that influnce the acceptance of this technology by consumers. Therefore, this paper reviews and analyzes theories and models and subsequently identify factors that influence customers’ acceptance and use of the IoT services. Theories such as Technology Acceptance Model and Unified Theory of Acceptance and Use of Technology as well as number of existing models have investigated the IoT or similar technologies. Using these models and technologies, this paper identifies general factors that can be utilized in different domains and regions to study customers’ acceptance and use of the IoT services.