Why it exists
IGES was an early standard for exchanging CAD geometry across different vendors’ systems.

IGES is one of the original neutral CAD exchange formats, widely used to transfer surfaces and wireframe geometry between systems. It carries the .igs or .iges extension and predates STEP.
IGES was an early standard for exchanging CAD geometry across different vendors’ systems.
Surface and wireframe exchange, and feeding legacy CAD/CAM tools that still require IGES.
STEP handles solids and assemblies more robustly; IGES is best for surfaces and legacy compatibility.
Some CAM tools, older systems and specific client specifications still require IGES, so it remains relevant for interoperability.
For surface and wireframe handoff, IGES can be a practical choice when the recipient asks for it.
If you can choose, STEP is the more capable modern standard for solids and assemblies.
You can convert IGES to STEP to upgrade legacy data, or to glTF / OBJ / STL for visualization and printing.