Dedicated IP means a specific IP assigned to a specific domain name. The dedicated IP assigned allows their visitor to browse their site via http://192.168.x.x
Most shared hosting offers shared IP only. Shared IP means all domain names on the server will share an IP address, and hence when you access a website via IP, you will proberbly seeing the first hosted domain.
Why you need dedicated IP :
Most website doesn’t require dedicated IP except Business/Ecommerce website where personal SSL is required.
Professional hosting provider like Lunarpages offers dedicated IP at $2.50/month. Most other shared hosting charge between $2 to $4 per IP / month.
Hosting account with FREE dedicated IP :
Unlike most other shared hosting service provider . IXWebHosting offers FREE dedicated IP for each hosted domain. E.g. If you sign-up their BusinessPlus plan, you are allowed to host up to 8 domains on the same account, each domain will have a dedicated IP at no extra charge.