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[References: 14 tit.]

This paper presents a comprehensive study related to simultaneous wireless information and power transfer (SWIPT) in different types of wireless communication setups. Harvesting energy using SWIPT is an appealing solution in the context of extending battery life of wireless devices for a fully sustainable communication system. Strong signal power increases power transfer, but also causes more interference in information transfer, causing realization of the SWIPT challenging problem. This article provides an overview of technical evolution of SWIPT. A survey and qualitative comparison of the existing SWIPT schemes is provided to demonstrate their limitations in the current and 5G networks. Open challenges are emphasized and guidelines are provided to adapt the existing schemes in order to overcome these limitations and make them fit for integrating with the modern and emerging next generation communication networks, such as 5G systems.