The Project Object Model (POM) is a fundamental concept in the Apache Maven build automation tool. It serves as a configuration file, typically named `pom.xml`, that defines a project's structure, dependencies, and build settings. This XML file allows developers to manage project information, such as its version, packaging type, and required libraries. In addition to project metadata, the POM facilitates the management of dependencies, plugins, and build profiles. By specifying these elements, developers can automate the build process, ensuring consistency and efficiency across different environments. The POM is essential for streamlining project management in Java-based applications.