The Singleton pattern ensures that only one instance of a class is created, and provides a global access point to that instance. There are many objects that only need a single instance, such as thread pools, caches, and objects used for logging or managing preferences. The Singleton pattern solves problems that could occur from instantiating multiple instances of these objects, such as inconsistent behavior or wasted resources. It works by having a class define a static method that returns its sole instance, which is created the first time the method is called.