Characteristic Analysis of OFDM, FBMC and UFMC Modulation Schemes for Next Generation Wireless Communication Network Systems

5G technology is the only hope that would let us bridge the tele-industry in terms of meeting the need with quality. It is estimated that there is a generation and usage of about 2.5*10^18 bytes per day. The statistics in the present day prove that the future needs will increase exponentially and so will the demand. Meeting these parameters like the data rates, speed for the users with current technologies like 3G, OFDM (Orthogonal Frequency Division Multiplexing) is quite impossible. It's high time that we leap up to another degree and unfold new methods to emerge into 5G-5TH Generation. Usage of appropriate modulating techniques and compatible devices would drive to the inception of a new era in the history of technology, which would be better than ever. The outright motto is to develop a waveform which holds high Spectral efficiency and minimal Peak to Average Power Ratio. The paper revolves around the Orthogonal Frequency Division Multiplexing (OFDM), Filter Bank Multicarrier (FBMC) and Universal Filtered Multicarrier (UFMC). These techniques are compared and analyzed on the basis of Spectral Efficiency, Bit Error Rate , PAPR by utilizing various subcarriers and modulation techniques. The results evidently prove that the spectral efficiency is quite insufficient in the case of OFDM. The existence of cyclic prefix adds to this constraint. FBMC and UFMC proves to be highly fictional and the drawbacks in the previous case are neutralized by the usage separate filters for each subcarriers which further increases the PAPR value. On advanced analysis we derive to conclusions that UFMC waveform technique is preferable for 5G on considering the value of PAPR. Optimization will add to the betterment of the situation. We would study the spectral efficiency, power spectral density, peak to average power ratio and performance in terms of bit error rate in practical senses.