Here´s what the Application Space is in more concrete technical terms:
A framework to guide your application architecture
A framework to wire-up local or remote, synchronous or asynchronous components
A framework to connect distributed components via a multitude of transport media in a very easy and symmetrical way
A framework to make parallel programming easier by leveraging Microsoft´s Concurrency and Coordination Runtime (CCR) with yet another layer of abstraction put on top of it
This package has no dependencies.