Public IP Address
A Public IP address is the one which is globally recognizable and our ISP (Internet Service Provider) or IANA provides the same. Public IP identifies our home network to the outside world. It is an IP address that is unique throughout the entire Internet. Each customer who uses the Global/Public IP Block needs to pay the Service Provider or IANA.
Private IP Address
Unlike Public Addresses, Private IP addresses never leave the LAN network, just as the public IP address is never used inside your network. Additionally, customer need not pay for private IP blocks used inside the LAN environment.
Difference between Private IP and Public IP.
Further, below table details on the difference between Public IP Addresses and Private IP addresses –
Related- IP Address vs Port Address
Related- MPLS vs IP Routing