Tag Managers are tools that can be embedded into a pages source code to store tracking tags.
This is beneficial as it removes many requests from a page load sequence, as it only requires one pixel to fire, rather than one+ pixel per tracking platform depending on the tool.
Certain tag managers are stored in different parts of a page’s source code, so you should always be sure that any tags you place into one are compliant with the manager to ensure data integrity.
Google Tag Manager & Adobe’s are the most common, although some teams make their own personal solutions as well.