In recent years, interest in optical wireless(OW) as a promising complementary technology for RF technology has gained new momentum fueled by significant deployments in solid state lighting technology. This article aims at reviewing and summarizing recent advancements in Short Range Optical Wireless communication, with the main focus on indoor deployment scenarios. This includes a discussion of challenges, potential applications,state of the art, and prospects. We discuss exclusively about the deployment of OWC technique using the existing infrastructure such as LED lighting fixtures, mobile phone cameras and flashes, and headlamps of vehicles, with little or no add-ons, which in turn will enable Internet of Things (IoT). This paper also discusses the challenges and potential of Optical Wireless Communication.