SemVer 2.0.0 defines a standardized version format: MAJOR.MINOR.PATCH. MAJOR changes indicate breaking API changes, MINOR for backward-compatible features, PATCH for backward-compatible bug fixes.
Pre-release versions are appended with a hyphen (e.g., 1.0.0-alpha.1) and have lower precedence than release versions. Comparison is done segment by segment: numeric fields numerically, identifiers ASCII lexicographically.
In package managers like NPM and Cargo, version range syntax (^1.2.3, ~1.2.3) defines acceptable update ranges. Understanding version comparison helps configure dependencies correctly and avoid build failures.