A new technology known as the Internet of Things (IoT) uses several sensor devices and communication protocols. By implementing cutting‐edge and modern equipment, people use IoT to make their lives easier. Home automation is one of them, and it works with actuators and sensors. However, increasing the number of devices in the IoT network could degrade the Quality of Service (QoS). Therefore, an appropriate framework in software and hardware can improve the Quality of Experience (QoE) and QoS for all users. One of the critical QoS measures in IoT is called Ultra Reliability and Low Latency Communication (URLLC). URLLC is essential in the IoT network released from the third Generation Partnership Project (3GPP) cellular. However, a systematic and comprehensive investigation of the practical procedures for URLLC in IoT needs to be done. This paper comprehensively investigates the existing methodologies in this subject. All the chosen techniques are separated into four categories to obtain a complete picture of the topic: structure‐based, diversity‐based, metaheuristic algorithm‐based, and channel state information. In this paper, we also investigate more benefits and drawbacks of other QoS when URLLC is applied in the IoT network. This paper highlights the challenges of URLLC in IoT networks and describes future open issues in detail to provide an efficient way for researchers in this field.