This one may look like it's a different edition of Windows Embedded similar to what Windows Thin PC is. It is going to be based on Windows 8.1 with Windows Thin PC lagging behind but we don't know what is it going to be exactly based on. Will that be based on Windows Embedded maybe? For Windows IOT, it is likely to be available on various electronic appliances we use at home. We might have seen printers and cameras with their own OSes, the cars with on-board car control systems and other different OSes we don't know of technically. Nobody knows them but it's a safer bet that we use them that way lest someone tampers with the Windows or Android related OS in the fucking car remotely that the accident occurs all because of that. What if some bad guy tampers with the Windows or Android IOT related appliances and things all follow his commands then? Security questions aside, the Internet of Things are the embedded devices of the future for home use, personal use, and even business use everywhere. The Android IOT is already at the beginning with Android smartwatches, cameras, Set-Top Boxes, and even the unnecessary game consoles powered by Android which are not that great when we can already play most of the gesture-friendly Android games. We may expect the Wii U or PS Vita kind of combination when it comes to Android-powered game consoles but most of the Android games don't make use of such combination.
For Android Wears as part of IOT, there will be more of these coming out in the near future. The last thing is that Windows IOT is already powering up the Intel Galileo devices but it's under beta phase so it works on first-gen devices. No idea what the OS on action on these devices looks like but we have already seen the those devices.