Cloud based Platform As a Service (PaaS) and Software As a Service (SaaS) technologies have been used in enterprise markets for many years. They are also the major contributing factors to the rapid growth of IoT market in a wide range of products. PaaS providers offer ready-to-use services like security, data storage, device management and big data analysis. In addition, a number of SaaS companies provide application level services like billing, software management and visualization tools. That greatly reduces time-to-market, operation overhead, risks and startup cost.