JSON is a lightweight, easy-to-read data interchange format that uses a text-based syntax and supports array data structures, making it an ideal choice for anyone who needs to gather, store, and manipulate data. JSON's importance lies in its simplicity, allowing different applications to communicate with each other without excessive use of bandwidth. It has several benefits, including speed, browser compatibility, less verbosity, data structure matching, and reduced memory needed. Compared to XML, JSON is primarily a data format and is faster due to its small file size, fast parsing, and fast data transfer. While JSON has some limitations, such as not directly supporting arrays, it is the best option for simple data exchanges between client and server without validation. With its growing popularity, many databases now provide support for querying and storing JSON data, making it a versatile choice for developers.