China’s Beidou-3 global satellite navigation system， short for Beidou system （BDS）， was fully operational on July 31， 2020， which has become the basis of the interconnection and intelligence of all things in the information society. Based on the analysis of the architecture and key technologies of Internet of Things （IoT）， the service types of BDS， and the main mode of BDS applications in IoT， this paper proposes a BDS-IoT technology architecture， which takes BDS’s positioning and timing as the main perception information， takes the short message and other characteristic services as the main information transmission means， and integrates Internet and artificial intelligence technology. Then， the typical application of BDS services in the IoT field is further analyzed， and the application mode of “IoT + BDS” is put forward. Finally， taking smart city， intelligent transportation and other applications as examples， the challenge of BDS is analyzed， the development advice is given， and the new driving force of BDS for innovation driven development is proved.