The technological advancements in the area of “Internet of Things” (IoT) have taken a big leap in the last few years. IoT has changed our surrounding in many ways, some of which is noticeable and some are unnoticeable. These days Organizations are investing huge funds in the field of IoT. Internet of Things (IoT) is basically the identification of objects in the LAN or WAN by providing the objects a unique IP address. Objects, pets or humans are equipped with embedded sensors, which helps them to routinely transfer data over the LAN/WAN without any human intervention. IoT is a swiftly growing technology which is making customers life more prolific and enjoyable. In this paper, we will try to compare the features of services offered by AWS and Azure with respect to the IoT Platform. Both Azure and AWS are market leaders in cloud-based IoT and offers numerous services for users to work on the IoT platform.