HTTP/2 addresses limitations in HTTP/1.x by multiplexing requests over a single TCP connection, compressing headers, and allowing servers to push responses. It leads to more efficient use of network resources and faster page loads. While browser support is good, server implementations are still maturing and need to fully support HTTP/2 features like streams, dependencies, and server push to provide optimizations. Efficient TLS is also important to avoid delays in taking advantage of HTTP/2 performance benefits.