IP Address Management (IPAM) is a system used to plan, track, and manage IP addresses in a network. It helps network administrators allocate and monitor IP addresses efficiently, ensuring that each device connected to the network has a unique address. This is crucial for maintaining communication between devices and preventing conflicts. IPAM also provides tools for managing subnets, DNS, and DHCP services. By integrating these functions, IPAM simplifies the administration of network resources, making it easier to manage large networks. This leads to improved network performance and security, as well as streamlined troubleshooting processes.