SignalR is an ASP.NET library that enables real-time communication between web servers and clients through web sockets, server-sent events, and long polling. It provides a simple API for creating persistent connections that allow bidirectional communication, and supports client libraries for .NET, JavaScript, and mobile platforms. SignalR uses a hub model to broadcast messages to all connected clients or specific groups, making it useful for chat applications, live updates, notifications, and other scenarios requiring real-time client-server interactions.