The development of a 5G-enabled Internet of Things has led to a dramatic increase in network traffic load, which has presented tremendous challenges to network management. In this paper, a service-oriented network architecture is proposed to support the effective management of 5G-enabled IoT systems. This architecture effectively reduces the traffic load and simplifies network management by introducing a service aggregation and caching (SAaC) scheme. Specifically, SAaC first breaks through the data-centric network architecture by converting data into services. Then, SAaC significantly reduces traffic load and energy consumption by service aggregation. Finally, SAaC introduces service caching, and each content router caches new services locally after aggregating received services so that user requests are handled at the network layer. Experimental results demonstrate that compared with traditional solutions, the SAaC scheme improves the request response time by 20.52%–56.09%, reduces the traffic load by 10.85%–37.67%, and reduces energy consumption by more than 50%.