IPv4 addressing consists of four octets of eight bits each. 8x4=32 bits per address. Example: 192.168.1.1 in binary is 11000000.10101000.00000001.00000001, which is 32 bits.
Internet Protocol version 4 (IPv4) is the fourth version of the Internet Protocol (IP). It is one of the core protocols of standards-based internetworking methods in the Internet and other packet-switched networks. IPv4 was the first version deployed for production on SATNET in 1982 and on the ARPANET in January 1983. It is still used to route most Internet traffic today, even with the ongoing deployment of Internet Protocol version 6 (IPv6), its successor.
IPv4 uses a 32-bit address space which provides 4,294,967,296 (232) unique addresses, but large blocks are reserved for special networking purposes.