The venv module, introduced in Python 3.3, is a built-in tool to create isolated Python environments. It lets you manage dependencies for individual projects without affecting your system's Python or other projects. It’s simple, lightweight, and doesn’t require extra installation.

Here’s how it compares to similar tools:

virtualenv: An older, feature-rich alternative that works with Python versions before 3.3 and offers more customization. pyenv: Focuses on managing multiple Python versions, not virtual environments. It can pair with pyenv-virtualenv for both. virtualenvwrapper: Adds convenience commands for managing virtualenv environments. pipenv: Combines virtual environment and dependency management, with features like dependency locking and Pipfile. If you're using Python 3.3 or later, venv is usually enough for basic needs. Use other tools if you need advanced features or compatibility with older Python versions.