Cloud computing has boomed its horizon with large pace as commercial infrastructure in the IT industries meeting the vast requirements of computing resources. There are several issues such as load balancing, virtual machine migration, automated service provisioning, algorithm complexity, etc., demanding to be resolved. Each of these issues needs load balancing to be resolved. This aims for distributing the unwanted dynamic workload between the nodes residing in cloud and this desires of every computing resource must be assigned on proficient and reasonable ground. Load balancing has become crucial for efficient performance in distributed environments. Cloud computing is an emerging technology demanding more services and better results. Thus load balancing for the cloud is very interesting and important research area. Many algorithms are proposed to provide efficient techniques for assigning the client's requests to available cloud nodes. This paper studies cloud computing along with research challenges in load balancing. Load balancing has been a major issue for cloud computing environment. Efficient load balancing scheme ensures efficient resource utilization by providing the resources to cloud on-demand of users’ basis. By implementing appropriate scheduling criteria load balancing may prioritize users. The aim of this study is to peep in various load balancing algorithms to address its challenges in variety of cloud environment. This study provides a perspective view of the latest approaches in load balancing that will certainly help the future researchers in this field