Quantum many body systems can undergo phase transition due to a variation in the system parameters at temperatures very close to absolute zero – entirely driven by quantum fluctuations. I will talk about some recent results where fluctuations. I will talk about some recent results where fluctuations. I will talk about some recent results where bipartite as well as multipartite entanglement have been proposed to be detectors of such quantum phase transitions. Moreover, recent investigations have shown that along with those in the equilibrium scenarios, quantum systems can also change their characteristics drastically by developing non-analyticities with time during their time evolution, such a phenomenon was named as dynamical quantum phase transition. I will show that entanglement can also play an important role in detecting such phenomena.