Platform based design allows the reuse of both software and hardware components. It refers to the design approach where a common platform or framework is used to develop various products or applications. This platform provides a set of pre-built components and interfaces that can be easily integrated into different products.

Benefits of platform-based design:
1. Software reuse: With platform-based design, software components can be developed once and reused across multiple products. This reduces development time and effort, as well as improves the quality and reliability of the software.

2. Hardware reuse: Similarly, platform-based design enables the reuse of hardware components. Common hardware platforms can be designed and manufactured, which can be used in different products with minimal modifications. This reduces the cost and time required for the development of new hardware.

3. Standardization: Platform-based design promotes the use of standard interfaces and protocols, ensuring compatibility and interoperability between different components and systems. This simplifies integration and maintenance tasks.

4. Flexibility: By using a common platform, designers have the flexibility to add or remove software and hardware components as per the requirements of different products. This allows for customization and adaptation without significant redesign efforts.

5. Cost and time savings: Reusing software and hardware components leads to significant cost savings as there is no need to develop everything from scratch. It also reduces time to market, as the development effort is focused on integrating and configuring the existing components.

6. Improved quality: Since the platform components are already tested and validated, the overall quality and reliability of the products developed using platform-based design are improved.

7. Easier maintenance: With platform-based design, maintenance becomes easier as updates and fixes can be made at the platform level, which automatically propagate to all the products that are using that platform.

In conclusion, platform-based design allows for the reuse of both software and hardware components, leading to benefits such as cost savings, time savings, improved quality, and easier maintenance. It promotes standardization and flexibility, making it an effective approach in the development of various products and applications.