The Internet of Things (IoT) is a novel technology that has opened doors to the new level
of interaction between the things. This has resulted in an enhancement in the quality of life and
optimized use of various resources. IoT uses various technologies related to networking, sensing,
databases and artificial intelligence to enhance the lifestyle and makes business processes simpler. In
the IoT based systems, the number of devices contributing to a particular application is very large,
spreading to a large geographical area at various locations. The device can be considered as a
resource used by a service in the application layer. IoT service is the most important entity. The
real-world things generate data by perceiving the environment in large quantity and store it in the
distributed databases or cloud databases. This manuscript analytically and statistically categorizes
and analyze the current research techniques on the service discovery and selection in the IoT,
published between 2010 and 2018. It finds that the discovery among a huge number of services
requires fast, scalable and dynamic service discovery mechanism over the Internet. Once the services
are discovered, the next step is to select the most appropriate service. This paper includes a
comprehensive analysis of the discovery and selection of services in IoT. A patent related to service
and discovery have been also discussed which would be beneficial in identifying the research gap to
make the system more efficient.