Several schemes available are as follows:
Pipes: One-way communication process through which different process can interact. The problem is that the two processes could have a unique ancestor. However this problem was fixed with the help of named-pipes (FIFO).
Message Queues : Message queues may be used between unrelated and related processes executing on a machine.
Shared Memory: This is the fastest of all IPC process. The memory to be shared is examined into the address space of the processes. The speed gain is attributed to the fact that there is no kernel use. But this scheme requires synchronization.