Avalanche photodiodes (APDs) have drawn huge interest in recent years and have been extensively used in a range of fields including the most important one—optical communication systems due to their time responses and high sensitivities. This article shows the evolution and the recent development of AIIIBV, AIIBVI, and potential alternatives to formerly mentioned—“third wave” superlattices (SL) and two-dimensional (2D) materials infrared (IR) APDs. In the beginning, the APDs fundamental operating principle is demonstrated together with progress in architecture. It is shown that the APDs evolution has moved the device’s performance towards higher bandwidths, lower noise, and higher gain-bandwidth products. The material properties to reach both high gain and low excess noise for devices operating in different wavelength ranges were also considered showing the future progress and the research direction. More attention was paid to advances in AIIIBV APDs, such as AlInAsSb, which may be used in future optical communications, type-II superlattice (T2SLs, “Ga-based” and “Ga-free”), and 2D materials-based IR APDs. The latter—atomically thin 2D materials exhibit huge potential in APDs and could be considered as an alternative material to the well-known, sophisticated, and developed AIIIBV APD technologies to include single-photon detection mode. That is related to the fact that conventional bulk materials APDs’ performance is restricted by reasonably high dark currents. One approach to resolve that problem seems to be implementing low-dimensional materials and structures as the APDs’ active regions. The Schottky barrier and atomic level thicknesses lead to the 2D APD dark current significant suppression. What is more, APDs can operate within visible (VIS), near-infrared (NIR)/mid-wavelength infrared range (MWIR), with a responsivity ~80 A/W, external quantum efficiency ~24.8%, gain ~105 for MWIR [wavelength, λ = 4 μm, temperature, T = 10–180 K, Black Phosphorous (BP)/InSe APD]. It is believed that the 2D APD could prove themselves to be an alternative providing a viable method for device fabrication with simultaneous high-performance—sensitivity and low excess noise.