Comparison and analysis of the regularised zero forcing precoder, rapid numerical algorithms‐based precoder and the truncated polynomial expansion‐based precoder are done for massive multiple‐input multiple‐output wireless system for multicell scenario. The analysis was done for the imperfect channel covariance information. The achievable signal‐to‐interference‐and‐noise ratio, spectral efficiency and energy efficiency were investigated. The simulated outcome of the rapid numerical algorithms, regularised zero forcing and truncated polynomial expansion precoders for multicell massive MIMO system was analysed. The rapid numerical algorithms‐based precoder gave the best performance followed by the regularised zero forcing precoder, and the truncated polynomial expansion‐based precoder had the lowest performance for the multicell massive MIMO system. The increase in spectral efficiency per cell can be attributed to the fact that the pre‐log factor reduces with the increased number of pilots. Also, this leads to increased instantaneous signal‐to‐interference‐and‐noise ratio as the channel estimates become better with reduced pilot contamination. Again, for truncated polynomial expansion precoding there is a reduction in spectral efficiency because improvement in approximation quality do not overshadow the reduction in pre‐log factor. The performance is evaluated for uncoordinated and coordinated massive MIMO.