Fifth Generation (5G) wireless communication is an ecosystem of technological advancements involving a multitude of domains. These domains include Augmented Reality (AR), Internet of Things (IoT), Device-to-Device (D2D) Communication, Machine-to-Machine (M2M) Communication, Health IoT (H-IoT), Financial Technology (FinTech) etc. A multi-gigabit network architecture capable of offering data rates of the order of Gigabits per second (Gbps) is expected due to the enormous increase in the number of connected devices. 5G wireless communication systems are enough to accommodate the unavoidable explosion in user data traffic and area-wise connection densities. New and advanced signal processing techniques are used at both the transmitter and receiver sides to meet the growing data needs of the end-users without any outage. These techniques include precoding, zero forcing, Diversity, Beamforming, Relaying, Filtering, Combining, etc. In this paper, we studied and verified different beamforming techniques like Minimum Variance Distortionless Response (MVDR) Beamformer, Beamscan or Beam steering technique Multiple Signal Classification (MUSIC) algorithm, and Linearly Constrained Minimum Variance (LCMV) Beamformer. The diversity order of the antenna elements has also been taken care of and the Direction of Arrival (DOA) estimation of the incoming signals at the receiver’s end is carried out. Also, simulations are carried out to determine DOA estimation in presence of positional errors and multiple closely placed signal sources for the above-mentioned algorithms. While carrying out the simulation, we considered the two spatial geometries of the phased antenna array system viz-a-viz Uniform Linear Array (ULA) and Uniform Rectangular Array (URA). We also calculated the Bit Error Rate (BER) of the modulation schemes employed and visualized the effect of beamforming on BER at the receiver’s end.