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In React, function components and `React.PureComponent` provide two different ways of optimizing React apps at the component level. Function components prevent constructing class instances while reducing the overall bundle size as it minifies better than classes. Memoization is an optimization technique used primarily to speed up computer programs by storing the results of expensive function calls and returning the cached result when the same inputs occur again. Lazy Loading React Components is a new function that allows you to load react components lazily through code without help from libraries.