Contraction mapping is a mathematical concept used in fixed-point theory. It refers to a function that brings points closer together, meaning that the distance between the images of any two points is less than the distance between the points themselves. This property ensures that repeated application of the function will converge to a single point, known as a fixed point. In the context of Banach's Fixed-Point Theorem, contraction mappings are significant because they guarantee the existence and uniqueness of fixed points in complete metric spaces. This theorem is widely used in various fields, including computer science, economics, and engineering, to solve equations and optimization problems.