IP address is known as Internet Protocol address.it is a numerical values assigned to each device connected to a computer network that uses the Internet Protocol for communication. 

IP address serves two methods functions: 

- host or network interface identification

- Location addressing

1- It is numeric assigned number to a device to identify that device in TCP/IP network.  Example. 185.27.18.154 

2- It stands for Internet Protocol.It is used to identify device,when so many devices are connected over same network. 

3- It is a software address to identify host in local network. 

4- IP addresses are managed by the IP address service providers. 

5- IP address standards:- there are two types of IP standards available IPv4(containing 32 bits) and IPv6(containing 128bit) 

6- Private and Public IP address for LAN on WAN(Wide area network) 

7- Static and Dynamic IP address.