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In the year 2020, the fifth generation mobile communication will be deployed in many countries which aim to furnish a real wireless world free from present obstacles in communication system which is a great motivating factor for all the researchers, academicians and engineers. Researches are going all around the world to develop a new technology which will play a very important role in the successful deployment of 5G. The new technologies are being investigated that provide high speed, capacity, spectral efficiency, energy efficiency, pseudo outdoor communication, etc. that solves the existed problems in mobile communication system. In this work, a comprehensive study on key technologies, challenges, spectrum allocation, projects and present scenarios of 5G is discussed and described. The present study gives a detailed research to address the issues, and development correlated with 5G deployment. Keywords: 5G, 5G technologies, 5G projects, 5G issues, 5G spectrum