Socket standards refer to the specifications that define how different types of computer hardware, such as processors and motherboards, connect and communicate with each other. These standards ensure compatibility between components, allowing users to upgrade or replace parts without issues. Common socket standards include LGA (Land Grid Array) for Intel processors and AM4 for AMD processors. Each socket standard has a specific design and pin configuration, which determines the type of CPU that can be installed. Adhering to these standards helps manufacturers create products that work seamlessly together, promoting a more efficient and user-friendly computing experience.