The ever-growing need for high data rate, bandwidth efficiency, reliability, less complexity and less power consumption in our communication systems is on the increase. Modern techniques have to be developed and put in place to meet these requirements. Research has shown, that compared to conventional Single Input Single Output (SISO) systems, Multiple- Input Single Output (MISO), and Multiple-Input Multiple- Output (MIMO) can actually increase the data rate of a communication system, without actually requiring more transmit power or bandwidth. This paper aims at the investigation of the existing channel estimation techniques. Based on the pilot arrangement, the block type and comb type are compared, employing the Least Square estimation (L.S) and Minimum Mean Squared Error (MMSE) estimators. Pilots occupy bandwidth, minimizing the number of pilots used to estimate the channel, in order to allow for more bandwidth utilization for data transmission, without compromising the accuracy of the estimates is taken into consideration. Various channel interpolation techniques and pilot-data insertion ratio are investigated, simulated and compared, to determine the best performance technique with less complexity and minimum power consumption. As performance measures, the Mean Squared Error (MSE) and Bit Error Rate (BER) as a function of Signal to Noise power Ratio (SNR) of the different channel estimation techniques are plotted, in order to identify the technique with the most optimal performance. The complexity and energy efficiency of the techniques are also investigated. The system modelling and simulations are carried out using Matlab simulation package. The MIMO gives the optimum performance, followed by the MISO and SISO. This is as a result of the diversity and multiplexing gain experienced in the multiple antenna techniques using the STBC.