Glance is OpenStack's image service that stores and retrieves virtual machine (VM) images and their metadata. Glance consists of several components - the glance-api service that handles image API requests, the glance-registry service that stores and processes image metadata, and an image store like OpenStack Object Storage where the actual image files are stored. Glance supports various image formats like QCOW2, VHD, VMDK etc. that can be used by different hypervisors. Images in Glance can be public, private or shared between specific tenants using image members.