5th generation wireless networks (5G) is successor to existing wireless networks 3G, 4G LTE that is being designed to communicate smart devices, machines and objects everywhere. 5G wireless communication focuses on providing very high data rates (in Gbps) with low latency and enormous improvements in customers quality of service. Since increasing number of smart devices day by day, demand of emerging technological applications and high-speed wireless data rate is becoming overhead for existing wireless networks (like 4G LTE networks). So 5G networks will make new market norms by providing improved data rates, QoS, low latency and huge capacity. 5G undoubtedly not a sheer advancement of 4G, however, an incorporation of newly technologies which will meet the necessities of promising services and user demands. In this research paper, it is explained that how 5G will be proved as innovation in industrial revolution by supporting billions of IoT devices, connected autonomous cars, remote healthcare, smart cities, and virtual reality systems.