Web Components enable the creation of reusable UI elements through standard HTML tags. They consist of several technologies including custom elements, templates, shadow DOM, and HTML imports. While supported natively by newer browsers, polyfills allow using web components in older browsers. The document provides an example of generating a web component using Yeoman and implementing it with tags, then distributing it on GitHub and via Bower. Web Components promote reusability, scalability, and reducing wasted efforts of rewriting components.