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The term "Web service" describes a standardized way of integrating Web-based applications using the XML, SOAP, WSDL and UDDI open standards over an Internet Protocol backbone. XML is the data format used to contain the data and provide metadata around it, SOAP is used to transfer the data, WSDL is used for describing the services available and UDDI lists what services are available.
SOAP is known as a transport-independent messaging protocol. SOAP is based on transferring XML data as SOAP Messages. Each message has something which is known as an XML document. Only the structure of the XML document follows a specific pattern, but not the content. The best part of Web services and SOAP is that its all sent via HTTP, which is the standard web protocol.
Web services are used for a variety of applications, but the most common is for reusing code and connecting existing programs. The web service method can help developers segment applications into components that can be used and reused for various needs. For example, more than one program might need a conversion tool or a reporting function. This is possible due to web services’ universal communication protocols.
Web services are a type of internet software that use standardized messaging protocols and are made available from an application service provider’s web server for use by a client or other web-based programs. Web services can range from major services such as storage management or customer relationship management (CRM) down to much more limited services such as the furnishing of a stock quote or the checking of bids for an auction item. The term is sometimes also referred to as application services.