Apache Spark is an open-source, fast, in-memory data processing engine designed for big data analytics, significantly improving efficiency and usability compared to Hadoop. It features essential components like Resilient Distributed Datasets (RDDs), DataFrames, and Spark SQL for structured data analysis, allowing users to execute machine learning, streaming, and SQL queries seamlessly. The architecture includes a driver, executors, and a cluster manager, facilitating the parallel processing of large datasets.