Hello Ambika, 

IoT growth is distinctive in two ways – smart wearables and automation. Wearables can  be serviced best by SRAMs that have a small footprint and low power consumption. SRAMs that can retain high-speed performance while reducing power consumption in a small package will offer significant value in IoT applications.

Source: http://www.embedded.com/design/connectivity/4437808/The-role-of-SRAMs-in-nextgen-IoT-and-wearable-embedded-designs

You can also refer following link for SRAMs in IoT:

1. http://ieeexplore.ieee.org/abstract/document/7231360/

2. http://ieeexplore.ieee.org/abstract/document/7063052/

3. http://dl.acm.org/citation.cfm?id=2971891

4. http://ieeexplore.ieee.org/abstract/document/7479149/

5. http://ieeexplore.ieee.org/abstract/document/1356656/

6. http://www.kilopass.com/wp-content/uploads/2010/04/103777.pdf

7. http://www.electronicspecifier.com/memory/low-power-sram-ip-targets-wearable-iot-applications

8. http://iot.stanford.edu/workshop14/SITP-8-11-14-Pannuto.pdf

Thank you Bhagwan for your valuable comments.

First of all, you must appreciate that IoT is not anything new! It is just that the Internet will also support "things" such as washing machines and such. Do IoT devices need SRAM? That depends on what this device is intended to do. So the answer to your question will be "yes" in general. Whether these SRAM has demands of very high reliability is again a subjective question. There may be applications where reliability expected of all components is very high.  If you are trying to make a case for reliable SRAMs, you may want to think of applications where they are expected to be reliable. 

IoT is a buzzword. IoT doesn't need SRAMs. Some chips, when used in an IoT context, might need memory. And yet, SRAM might not even be the best memory technology for the given application. The question, as presented, is too broad. It's all application dependent.