What is Honeywell Z Wave?

Excuse me, could you please explain to me in simple terms what exactly is meant by "Honeywell Z-Wave"? I'm somewhat new to the world of smart home automation and I've come across this term quite a few times but I'm still not entirely clear on its significance. Is it a type of technology, a product, or perhaps a protocol? And if it's a technology or protocol, how does it work and what are its key benefits for users? I'd really appreciate any insights you could provide.