Internet of things (IoT) envisages a deep sense of connectivity and communication between the living and nonliving things. Nowadays, the vision of IoT has expanded to connect everything from industrial equipment, to everyday objects, to living organisms such as plants, farm animals and people. To create a niche for nonliving things to react, respond and work autonomously as and when required and as per their role, position and location in the ecosystem to provide services to the user, IoT is developing rapidly in the industrial settings.