Addressing the increasing development of IoT networks and the associated energy requirements, rotating triboelectric nanogenerators (R-TENGs) are proving to be strong candidates in the field of energy harvesting, as well as to that of self-powered devices and autonomous sensors. In this work, we review the theoretical framework surrounding the operating principles and key design parameters of R-TENGs, while also associating them with their output characteristics. Furthermore, we present an overview of the core designs used by the research community in energy harvesting applications, as well as variations of these designs along with explicit solutions for the engineering and optimization of the electrical output of R-TENGs. Last but not least, a comprehensive survey of the potential applications of R-TENGs outside the energy harvesting scope is provided, showcasing the working principles of the various designs and the benefits they confer for each specific scenario.