Component-Based Development (CBD) is a software engineering approach that emphasizes the design and construction of software systems using reusable components. These components are self-contained units of functionality that can be easily integrated into larger systems, promoting efficiency and reducing development time. By utilizing pre-built components, developers can focus on assembling applications rather than writing code from scratch. This method enhances maintainability and scalability, as components can be updated or replaced independently. Overall, CBD streamlines the development process and encourages collaboration among teams by allowing them to share and reuse components effectively.