5G is emerging as a next-generation technology which enhances capacity, provides very low latency, very high data rates, and good quality of service. For any 5G device to operate successfully, design and development of antenna plays very important role. Antenna should be compact in size, cost effective and should cover the desired 5G band with enhanced bandwidth, gain, and negligible radiation losses. The shrinking size of the futuristic and next-generation wireless devices will need miniaturized and tightly assembled antennas without affecting the performance. With the number of antennas increased in the MIMO system it will be difficult to meet the space constraint of next-generation devices. Also, with the innovation and ever-increasing demand for flexible electronic devices, there will be a need to design flexible antennas for such devices. Flexible antennas are having tremendous applications in Gateways and Routers, Wireless Access Points, High-speed HD streaming, Handheld Devices, Highcapacity MIMO networks for Public Transportation. This paper explains the concept of flexible antennas, the various types of substrates used for antenna fabrication. It also covers the various types of flexible MIMO antennas for 5G applications.