IoT is a 24*7 network of interconnected objects that are able to collect and exchange data using embedded sensors and mobile devices, among others. A connected device can become "smart" by combining sensors, networks, applications, etc., which come together to create added intelligence. The applications of IoT can be found in several industries today, such as manufacturing, healthcare, transport & logistics, government, retail, and energy & utility, among others. Managed service is the practice of outsourcing a dedicated team to handle defined responsibilities to cut down the cost and manage operations effectively.