The document introduces hypervisors and their role in virtualization, which allows multiple virtual systems to operate on a single physical system. It outlines two types of hypervisors: Type 1 (native) that runs directly on hardware and includes examples like VMware ESX and Microsoft Hyper-V, and Type 2 (hosted) that operates on a host OS with examples like VMware Workstation and Oracle VM VirtualBox. Additionally, it discusses the features and costs associated with various hypervisors, noting differences in capabilities and licensing requirements.