Knowing the whole phenomenon behind the Internet of Things (IoT), it would be easy to understand why it is being termed as the next Industrial Revolution. In simple terms, the Internet of Things is basically a system of interrelated digital machines, computing devices, objects, and people and the capacity to transfer data over a network without requiring human-to-human or human-to-computer interaction. IoT is now being used on a global level, in order to operate more efficaciously, improve decision-making, and to better understand customers to deliver enhanced customer service and increase the value of the business as a result.