Consider IMAP as being the cloud email service. All the emails are pulled on your device/web/client whenever you want or whenever they arrive. Its like the standard protocol for all possible clients/interfaces to pull the mails for you.
Soon after IMAP was created, Microsoft introduced its own protocol called MAPI ( Messaging Application Programming Interface ) which practically is IMAP for hotmail/outlook. MAPI is now commonly known as Exchange as it runs on their Exchange Servers.
Practically all email services ( apart from outlook/hotmail) support IMAP now as its accepted almost everywhere and used on all web/device/clients.
As Exchange/MAPI are Microsoft products, only companies that have their own Exchange mail servers or use Windows Live Hotmail/Outlook servers will be able to use MAPI/Exchange.
(I use IMAP nevertheless since Exchange/MAPI has some annoying issues on iOS if used with Gmail and Exchange/MAP is not supported by Mail.app on OS X.)
Having IMAP is worth it...
The more basic approach 'POP' downloads a copy, no syncing.