i think D2D refers to mobile devices like smart phones directly communicating wi

th each other. M2M is a rather more generic term used for variety of device comm
unicating with each other or through a network.
I think that M2M is same as MTC (Machine Type Communications), where all machine
s (not only UE but also other devices (TV, refrigerator, ...)) can communicate e
ach other. So, sensor network is a special case of M2M. Furthermore, D2D focuses
on UE only. D2D means that UE can directly communicate each other without eNB.
M2M refers to a communication paradigm that enable machines (objects) to communi
cate with each other with little or no human interaction. This can be achieved u
sing the peer-to-peer model (Device-to-Device D2D), or over a centralized model.
IoT is a much wider concept of interworking between connected objects, M2M could
be considered as an essential part of the IoT concept.
In the vision of the IoT, M2M applications are not only responsible to aggregate
data and monitor the status of remote equipment, but also responsible to gather
real-time data from millions of heterogeneous connected machines and translate
it into meaningful information that shall support quick decisions, automated act
ions, and strategic analytics.
IoT is about the capabilities that can increase the value of M2M applications fo
r the enterprise, such as discovering and semantic representation.