The ubiquity of accessing devices by virtue of ground breaking advancements in sensing, computing, and communication technologies have brought about a highly disruptive in the way systems and services are being perceived and designed. The Internet of Things (IoT) has emerged as a technology that presents a paradigm shift in terms of conceiving systems and the functionalities they provides with the ultimate objective of societies well-being through internet and communication technology enabled effective monitoring and control mechanism of the physical world [1]. It provides a virtual representation of uniquely identifiable objects that can be remotely sensed over an Internetlike structure [2]. Besides, the range of sensing and task actuations in an IoT encompass RFIDs, sensors, actuators, Wireless Sensor Networks (WSN), and so forth [3]. IoT envisions a multitude of heterogeneous objects and interactions with the physical world. Due to the interaction among large number of heterogeneous objects involved, it poses a major challenge the design of IoT systems. The main objective of these heterogeneous objects is to provide real-world services as its basic functionalities and realtime state of the physical world. In the present century, the primary research challenge has been to interconnect multifarious devices to form an intelligent group of embedded and networked systems to perform some system goals. Such networked embedded system are capable of sensing, computing, and communicating over short to medium distances using varied wireless technologies, like Zigbee, Wifi, Bluetooth, etc. Such system popularly referred to as environment monitoring, infrastructure planning, traffic and energy management of modern society and many more [2]. Of course to convert this vision of decision-making of such networked embedded systems to reality, the services and data need to be defined in a homogeneous and common platform to support the variegated interactions required for integration of these objects thereof. This necessitates the design of IoT services in a web-service-like fashion for easy access, monitoring and control. Since most large scale and critical systems of late have been designed with this IoT paradigm, thus, modeling and analyzing the reliability of IoTs becomes an emerging research challenge. Service-Oriented Architecture (SOA) is one of the most potent paradigms of computing which provides services from distributed software and applications.