In view of evolving the Internet infrastructure, ICN is promoting a communication model that is fundamentally different from the traditional IP address-centric model. The ICN approach consists of the retrieval of content by (unique) names, regardless of origin server location (i.e., IP address), application, and distribution channel, thus enabling in-network caching/replication and content-based security. The expected benefits in terms of improved data dissemination efficiency and robustness in challenging communication scenarios indicate the high potential of ICN as an innovative networking paradigm in the IoT domain. IoT is a challenging environment, mainly due to the high number of heterogeneous and potentially constrained networked devices, and unique and heavy traffic patterns. The application of ICN principles in such a context opens new opportunities, while requiring careful design choices. This article critically discusses potential ways toward this goal by surveying the current literature after presenting several possible motivations for the introduction of ICN in the context of IoT. Major challenges and opportunities are also highlighted, serving as guidelines for progress beyond the state of the art in this timely and increasingly relevant topic.