What Is Page Speed ?

Page Speed is an open-source project started at Google to help developers optimize their web pages by applying web performance best practices. Page Speed started as an open-source browser extension, and is now available via Page Speed Online and as an API.

What is Page Speed Service ?

Page Speed Service is an online service that automatically speeds up loading of your web pages. To use the service, you need to sign up and point your site’s DNS entry to Google. Page Speed Service fetches content from your servers, rewrites your pages by applying web performance best practices, and serves them to end users via Google's servers across the globe. Your users will continue to access your site just as they did before, only with faster load times. Now you don’t have to worry about concatenating CSS, compressing images, caching, gzipping resources or other web performance best practices.

Read details by Google over here Page Speed Service: Web Performance, Delivered

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