Protocol Buffers are a language-neutral, platform-neutral way of serializing structured data developed by Google to deal with problems of scale. Data formats are defined using .proto files which are then compiled to generate data access classes. This allows structured data to be serialized and transmitted efficiently across various languages and platforms while maintaining backward/forward compatibility. Protocol Buffers offer advantages over other solutions like XML in being more efficient, compact and faster. They have found many use cases at Google and other companies for messaging, data storage and transmission.