This components loads applications packaged in shared libraries. It facilitates object packing facility where an object manager/object pair can be used to instantiate the objects from shared library.
The definition of the application is built with the server itself. An application is expected to re-implement some core method at minimum. The server can load any such component at runtime.
Component management is significant when the server moves into a clustering environment. Though not supported in current implementation, this has enough hooks to implement it easily.