Memory management is a crucial aspect of operating systems, optimizing system performance and resource utilization. It involves allocating and deallocating memory, managing virtual memory, and ensuring memory protection. These processes are essential for efficient multitasking and system stability. Memory management techniques include static and dynamic allocation, paging, and segmentation. Virtual memory allows processes to use more memory than physically available, while protection strategies prevent unauthorized access. Advanced concepts like copy-on-write and memory compression further enhance system efficiency and performance.