PackageCompiler is a Julia package with three main purposes:
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Creating custom sysimages for reduced latency when working locally with packages that have high startup times.
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Creating "apps" which are a bundle of files including an executable that can be sent and run on other machines without Julia being installed on that machine.
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Creating a relocatable C library bundle form of Julia code.
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Creating custom Julia distributions that look like the official binaries but ship with extra packages baked into the sysimage.
For installation and usage instructions, see the documentation.
PackageCompiler 2.0 comes with a few breaking changes. Read the upgrade guide here for instructions on how to upgrade to version 2.0.