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User requirements are growing faster than ever and the limitations of the current mobile communication systems have forced the researchers to come up with more advanced and efficient technologies. 4G mobile technology is the next step in this direction. 4G is the next generation of wireless networks that will totally replace 3G networks. It is supposed to provide its customers with better speed and all IP based multimedia services. 4G is all about an integrated, global network that will be able to provide a comprehensive IP solution where voice, data and streamed multimedia can be given to users on an "Anytime, Anywhere" basis. At present we have many technologies each capable of performing functions like supporting voice traffic using voice over IP (VoIP), broadband data access in mobile environment etc., but there is a great need of deploying such technologies that can integrate all these systems into a single unified system. 4G presents a solution of this problem as it is all about seamlessly integrating the terminals, networks and applications. The race to implement 4G is accelerating as well as quite challenging. The aim of this paper is to highlight the benefits, challenges in deployment and scope of 4G technologies.