Marketing Cloud does have the option to include "User Agent Information" as part of Tracking Extracts. This option will append the following columns to the Open and Click extract data:
- IpAddress
- Country
- Region
- City
- Latitude
- Longitude
- MetroCode
- AreaCode
- Browser
- EmailClient
- OperatingSystem
- Device
I'm not aware of any out-of-the-box tools in Marketing Cloud that leverage this data. But, you can definitely import the tracking data back into Marketing Cloud (or some external system) and build a custom solution which leverages IP address.
