Service Discovery is a process that allows applications to automatically find and connect to services within a network. It simplifies the management of services by enabling them to register themselves and be discovered by other applications without manual configuration. This is particularly useful in dynamic environments where services may frequently change. In modern cloud computing and microservices architectures, Service Discovery plays a crucial role in ensuring that different components can communicate effectively. It can be implemented using various methods, such as DNS, HTTP, or specialized tools like Consul and Eureka, which help maintain an updated list of available services.