This paper presents a miniaturized rectangular CPW‐fed microstrip antenna operating at a frequency of 2.4 GHz covering the bandwidth of 1.4 to 3.1 GHz, suitable for WLAN/ISM application. In this work, the effects of different geometrical shapes and substrate materials on the performances of the antenna have been investigated to select its structural size, shape, and substrate material to achieve their overall reduction in the size of the area, and the desired performance characteristics. The choice of suitable substrate materials and its growth position about ground terminals T1 and T2 affects the performance of the CPW antenna. Appropriate selection of dielectric substrate materials such as Flame‐Retardant Epoxy (FR4), Arlon (AR 600), Aluminum Nitride (AN), and Rogers (RO TMM 10i) for proposed Type‐I, Type‐II, and Type‐III antennas, respectively, are important parameters for designing and implementing a CPW patch antenna. This work investigates the change in antenna performance when the substrate dielectric materials are varied. The achieved miniaturization in terms of area percentage is as high as 55% of a proposed Type‐II (RO TMM 10i) antenna for wireless local area network (WLAN, 2.400–2.484) or industry science and medical (ISM, 2.400–2.480) band application. A detailed study for different dielectric substrate material of different geometrical shape and size has been performed and mentioned in this paper.