Improve components performance

**Feature request**
It would be great to have caching for hooks.

**Use case**
Many users need this functionality for production deployments.

**Implementation idea**
Add a new config option `enable_caching` with default `false`.

No files or tests are named. Start by locating the hook or component handling and the configuration entry points, then determine what should be cached and when caching is bypassed. Done should include the enable_caching option defaulting to false, defined caching behavior, and coverage for both settings.

Written by the indexing model from the issue text.