The Internet of Things (IoT) technology offers unprecedented opportunities to interconnect human beings as well as Machine-to-Machine (M2M), whereby sensors and networks allow all 'things' to communicate directly with each other to share vital information allowing us to have an instrumented universe where accurate data is readily available to inform optimal decision making. The IoT is about to enable a range of new capabilities and services far beyond today's offerings. It will fundamentally change how people go about their lives. According to Gartner, the number of objects connected to the Internet is set to reach 3 billion by 2030. Cisco estimates the number will be close to 30 billion objects by 2030. Others believe the actual number will be even higher with the assumption that any object with a simple microcontroller and on-off switch will be connected to the Internet in the near future.