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You may need your IP to set up a remote access or possibly for your local network. If you are asking: What’s an IP address? Here’s the definition from webopedia.
An identifier for a computer or device on a TCP/IP network. Networks using the TCP/IP protocol route messages based on the IP address of the destination. The format of an IP address is a 32-bit numeric address written as four numbers separated by periods. Each number can be zero to 255. For example, 188.8.131.52 could be an IP address.
Within an isolated network, you can assign IP addresses at random as long as each one is unique. However, connecting a private network to the Internet requires using registered IP addresses (called Internet addresses) to avoid duplicates.