There are a lot of challenges like versatility, network, receptiveness, accuracy, etc… when working on an internet-connected device because of the wide usage of them across the global. Currently there is a huge demand for reliable ways to connect to wireless. Same was conveyed as part of multiple observations and many have explained how spectrum sensing helps to allocate dynamically the unlicensed frequency bands for IoT applications reducing traffic and enabling the IoT technologies. Goal of Cognitive radio is to use the unadopted spectral spaces called spectral holes. A non-cooperative game theoretic strategy is employed to study the same. Also, the formulation of a utility function in terms of spectral usage rate of the users in a CR network. For obtaining the spectral usage rate, a 2-D continuous-time Markov Chain (CTMC) scenario is proposed to obtain the strategy for the users of CR in order to choose the appropriate spectral gaps. The parameters such as percentage utilization of spectrum by varying parameters like Traffic, No. of users and Data Burst rates are studied.