Internet of Things (IoT) connects devices such as industrial equipment and consumer objects on to a network, enabling gathering of information and management of these devices through software to increase efficiency and enable new services. IoT combines hardware, embedded software, communication services, and IT services. IoT helps create smart communication environments such as smart shopping, smart homes, smart healthcare, and smart transportation. The major components of IoT include WSN (Wireless Sensor Network), RFID (Radio Frequency Identification), cloud services, NFC (Near Field Communication), gateways, data storage & analytics, and visualization elements. IoT helps in effective management and monitoring of the multiple interconnected. IoT security can be addressed through network powered technology.