Key components of cloud computing include virtualization, which allows for the efficient use of resources, and on-demand self-service, enabling users to access computing resources without requiring human intervention. Other essential components are resource pooling, providing shared resources to multiple users, and broad network access, allowing services to be accessed over the internet. Additionally, measured service enables resource usage to be monitored and billed accordingly. Together, these components support scalable, flexible, and cost-effective IT solutions.