Internet of Things (IoT) is the networking of physical objects that contain electronics embedded within their architecture in order to communicate and sense interactions amongst each other or with respect to the external environment. In the upcoming years, IoT- based technology will offer advanced levels of services and practically change the way people lead their daily lives. Advancements in medicine, power, gene therapies, agriculture, smart cities, and smart homes are just a very few of the categorical examples where IoT is strongly established. Over 9 billion ‘Things’ (physical objects) are currently connected to the Internet, as of now. In the near future, this number is expected to rise to a whopping 20 billion.