The demand for high data rates, combined with the exponential growth of mobile data trafficking, and has prompted the use of millimeter-wave (mm-wave) spectrum for 5G mobile communication. So, for constructive assessment, this study employed various research publications, institutional reports, and other materials given at the conference. This survey article investigates the features of the mm-wave propagation channel and highlights the main challenges, solutions, and benefits associated with their utilization, as well as an analysis of their performance. The researchers observed that by reducing the difficulties and significant losses with various strategies, mm-wave cellular communication may extend up to 200m in a single cell and densification is essential for vast area coverage. The article also examines the right technical implementation approach, as well as the economic benefits and existing and predicted market situation of mm-wave cellular communication from the operator’s perspective. The outcome will be useful information for any operator or stakeholder in mm-wave communication.