One of the recurrent, valid criticisms of Java as a programming language is that it is wordy. You have to write a lot of code to get anything done. Lambda expressions relieve that problem for some common cases and give Java useful facilities that have boosted rival C# for years.
Lambda expressions are new to Java SE 8, and in my opinion they are the most significant language feature debuting in this version. Lambda expressions provide a relatively clear and more concise way to represent a method interface using an expression. Lambda expressions also improve the Java Collections libraries, making it easier to iterate through, filter, and extract data from Collections. New concurrency features enabled by lambda expressions improve Java runtime performance in multicore environments, which applies to the vast majority of new devices and computers.