The software development industry is enhancing day by day. The introduction of agile software development methodologies was a tremendous structural change in companies. Agile transformation provides unlimited opportunities and benefits to the existing and new developing companies. Along with benefits, agile conversion also brings many unseen challenges. New entrants have the advantage of being flexible and cope with the environmental, consumer, and cultural changes, but existing companies are bound to rigid structure. The goal of this research is to have deep insight into agile software development methodology, agile manifesto, and principles behind the agile manifesto. The prerequisites company must know for agile software development implementation. The benefits a company can achieve by implementing agile software development. Significant challenges that a company can face during agile implementation in a company. The research objectives of this study help to generate strong motivational research questions. These research questions cover the cultural aspects of company agility, values and principles of agile, benefits, and challenges of agile implementation. The project management triangle will show how benefits of cost, benefits of time, and benefits of quality can be achieved by implementing agile methodologies. Six significant areas have been explored, which shows different challenges a company can face during implementation agile software development methodology. In the end, after the in depth systematic literature review, conclusion is made following some open topics for future work and recommendations on the topic of implementation of agile software development methodology in a company.