-In the world of mobile wireless communication delivery of content with high quality services by taking into consideration available bandwidth, speed, latency, reliability, became very essential in the fulfillment of demand of services for greatly increasing subscribers on the mobile cellular network. Among various solutions one of technology of future is millimeter wave communication. Large spectrum of available bandwidth at very high frequency range 30GHZ to 300GHZ will play a vital role along with other technologies like Massive MIMO, Mobile Cloud, Software Defined Networking, for design and operation of 5G cellular networks. It is best suited for short range line of sight communication. With modification in LTE advanced and hetnets it is possible to achieve coverage, capacity, spectral efficiency, energy efficiency and desired speed up to 1Gbps practically by the use of five channel carrier aggregation and cyclic prefix usage. This review paper basically enlightens opportunities and challenges to exploit available bandwidth using this 5G technology to fulfill the need of customers.