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The communication protocols are the foundation for Internet of Things (IoT) for the seamless integration of hundreds of thousands of devices enabling a lightweight IoT communication network. Further, interoperability is a major concern in regard with connecting the multitude of heterogeneous devices, sensors, actuators, agents etc. Open messaging standards are designed to overcome the problem of horizontal interoperability for providing peer-to-peer communication network and real-time interaction possible in heterogeneous systems. The current research focus on the performance analysis to review the applicability of the open messaging standards available for IoT communication. In this paper, we design and implement the experiments to analyze the protocols' behaviour with respect to two performance metrics; throughput and latency. Message Queue Telemetry Transport (MQTT) and Constrained Application Protocol (CoAP) protocols are used for comparative analysis for the Open messaging standards. The evaluation is done by using various experimental scenarios to analyze performance results. It is observed that Open messaging standards performance outperforms when compared with MQTT and CoAP in IoT applications by considering various evaluation parameters. It has been analyzed that open messaging standards lead in the IoT domain which can be well explained by the obtained results.