The spectrum allocation in any auctioned wireless service primarily depends upon the necessity and the usage of licensed primary users (PUs) of a certain band of frequencies. These frequencies are utilized by the PUs as per their needs and requirements. When the allocated spectrum is not being utilized in the full efficient manner, the unused spectrum is treated by the PUs as white space without believing much in the concept of spectrum scarcity. There are techniques invented and incorporated by many researchers, such as cognitive radio technology, which involves software-defined radio with reconfigurable antennas tuned to particular frequencies at different times. Cognitive radio (CR) technology realizes the logic of the utility factor of the PUs and the requirements of the secondary users (SU) who are in queue to utilize the unused spectrum, which is the white space. The CR technology is enriched with different frequency allocation engines and with different strategies in different parts of the world, complying with the regulatory standards of the FCC and ITU. Based on the frequency allocation made globally, the existing CR technology understands the nuances of static and dynamic spectrum allocation and also embraces the intelligence in time allocation by scheduling the SUs whenever the PUs are not using the spectrum, and when the PUs pitch in the SUs have to leave the band without time. This paper identifies a few of the research gaps existing in the earlier literature. The behavioral aspects of the PUs and SUs have been analyzed for a period of 90 days with some specific spectrum ranges of usage in India. The communal habits of utilizing the spectrum, not utilizing the spectrum as white space, different time zones, the requisites of the SUs, the necessity of the applications, and the improvement of the utility factor of the entire spectrum have been considered along with static and dynamic spectrum usage, the development of the spectrum policy engine aligned with cooperative and opportunistic spectrum sensing, and access techniques indulging in artificial intelligence (AI). This will lead to fine-tuning the PU and SU channel mapping without being hindered by predefined policies. We identify the cognitive radio transmitter and receiver parameters, and resort to the same in a proposed channel adaption algorithm. We also analyze the white spaces offered by spectrum ranges of VHF, GSM-900, and GSM-1800 by a real-time survey with a spectrum analyzer. The identified parameters and white spaces are mapped with the help of a swotting algorithm. A sample policy has been stated for ISM band 2.4 GHz where such policies can be excited in a policy server. The policy engine is suggested to be configured over the 5G CORE spectrum management function.