AMP is an acronym for Accelerated Mobile Pages. The concept was introduced by Google to enhance page rendering and content delivery. It basically comprises of 3 components:
1. AMP HTML (HTML with custom tags and few restrictions for optimum performance)
2. AMP JS (Library to manage faster resource loading)
3. Google AMP Cache (Proxy-based CDN to serve cached AMP HTML pages)
Considering the ever-increasing number of mobile users and the need to satisfy user search-intent in quickest possible manner, web developers and SEO executives all around the world are giving it a go. Moreover, Google prioritizes AMP pages over other normal mobile pages in the mobile SERPs.
All in all, I’d say trying your hands on AMP is the need of the hour in order to enhance your mobile SEO strategy.
P.S – You can learn in detail about the concept here