We witness an explosive growth in the volume, velocity, and variety of the data available on the Internet. Such “data explosion” is mostly caused by the mobile devices, sensors, actuators, and social networks. Despite significant technological advancements, the users quality of experience is barely met. The ever-increasing demands of users related to high storage, fast computation, and processing has led toward the innovation of 5G technology. In this article, we conducted a study to highlight the significance of 5G (compared to the existing standards) and its effect on the user perceived quality of experience attributes. We have constructed a comprehensive taxonomy of quality of experience attributes, discussed their importance and how they ultimately lead toward the good quality of service. Moreover, a small experiment is conducted to demonstrate the effect of 5G on certain quality of experience attributes. Results revealed positive impact of 5G on certain experimented quality of experience attributes.