Lambda Layer Version in AWS is a way of segregating code components into distinct layers, enabling multiple functions to access and use the same code without redeploying it. This is accomplished by separating out the parts of a function’s code that don’t change often (like libraries, SDKs, and other dependencies) from the parts that do (like your function’s application logic). By packaging these components into separate layers, they can be deployed once and used across all functions. Lambda Layer Versions also allow for rollback capabilities — if a new version of an application layer causes issues with your functions, you can easily revert back to an older version. This makes it easier to keep up-to-date with security patches and other changes within your application layers.