The requirement of “Connecting Everything’s” has developed the technological term ‘Internet of Things’ in brief it is IoT. It enables by embedding some short ranges movable transceivers with various array of multiple electronics gadgets and daily life items like Televisions, Fans, air-conditions like household equipment’s enabling a wonderful new form of communications among ‘people’, ‘Things’ and among ‘Things themselves’. As IoT popularity is gaining, an efficient technology is required for huge amounts data transfer at high bandwidth. In coming generations IoT devices, the prime requirements that are to be addressed as high capacity, increased data rate and negligible latency. The latest development incoming generation communication technology that is, 5G which is very promising to provide the solution of challenges of complicated IoT architectures. But these desired expectations cannot be achieved through single antenna elements. The solution of these challenges is addressed with an advanced orientation of antenna structure known as, multiples input multiples output (MIMO) antennas that play a important part in latest wireless technology. However, MIMO systems significantly increase the channel capacity but it has an optimal isolation challenge. This review paper focuses on IoT scopes, challenges, and solutions in the light of MIMO antennas.