The `bower.json` file is a configuration file used by the Bower package manager, which helps manage front-end dependencies in web development. It specifies the packages required for a project, along with their versions and other metadata like the project name, description, and author. This file allows developers to easily install, update, and manage libraries and frameworks. In addition to listing dependencies, `bower.json` can also include other settings, such as the main files to be included in the project and the license type. By using this file, developers can ensure consistent and reproducible builds across different environments.