Corda isn't a good fit for IoT devices at this stage. The main issue you'd encounter is that there's no equivalent of a "light client". Each node needs to run a resource-intensive Java process with a 200mb+ heap size.
As a first step in addressing this, Corda has published design docs for Project Maximus, which would allow different users to "time-share" a single node. This would mean that each user would only have to run a client, instead of a full node.
You can find the documentation right here.