Node.js is an event-driven I/O platform for JavaScript that allows non-blocking, asynchronous code for building scalable network applications. It uses an event loop model that handles concurrent connections efficiently by doing useful work on the CPU when waiting for I/O operations to complete. Node.js comes with a package manager (NPM) and a rich ecosystem of modules. It is well-suited for real-time applications due to its asynchronous and non-blocking nature which allows for high throughput and scalability.