The Internet of Things (IoT) envisions the interconnection of all electronic devices, ushering in a new technological era. IoT and 5G technology are linked, complementing each other in a manner that significantly enhances their impact. As sensors become increasingly embedded in our daily lives, they transform everyday objects into “smart” devices. This synergy between IoT sensor networks and 5G creates a dynamic ecosystem where the infrastructure provided by 5G’s high-speed, low-latency communication enables IoT devices to function more efficiently and effectively, paving the way for innovative applications and services that enhance our awareness and interactions with the world. Moreover, application-oriented and multifunctional antennas need to be developed to meet these high demands. In this review, a comprehensive analysis of IoT antennas is conducted based on their application characteristics. It is important to note that, to the best of our knowledge, this is the first time that this categorization has been performed in the literature. Indeed, comparing IoT antennas across different applications without considering their specific operational contexts is not practical. This review focuses on four primary operational fields: smart homes, smart cities, and biomedical and implantable devices.