5G is a technology vision of the future world. 5G wireless networks will bring 1000-fold gains in capacity and connections for 100 billion devices with extremely low latency and response time. The deployment of these networks will come in 2020 and 2030. Breakthroughs in wireless network will also bring economic and societal growth in entirety. New forms of 5G will lead zero distance connectivity between people and connected machines. The present paper deals with the evolution of mobile generations over the years that has led to the development of the 5G technology. This paper also discusses and analyses the future potential of usage of the 5G technology for selected countries which are testing and aspiring for it. The paper also narrates the companies which have become the world leaders in the development of 5G. It concludes with conclusions preceded by a short description on 5G in Indian scenario.