Template Literals are a new way of making strings in JavaScript. We can make Template Literal by using the backtick or back-quote symbol.

//ES5 Version
var greet = 'Hi I\'m Mark';

//ES6 Version
let greet = `Hi I'm Mark`;

In the ES5 version, we need to escape the ' using the \ to escape the normal functionality of that symbol which in this case is to finish that string value. In Template Literals, we don't need to do that.

//ES5 Version
var lastWords = '\n'
  + '   I  \n'
  + '   Am  \n'
  + 'Iron Man \n';


//ES6 Version
let lastWords = `
    I
    Am
  Iron Man   
`;

In the ES5 version, we need to add this \n to have a new line in our string. In Template Literals, we don't need to do that.

//ES5 Version
function greet(name) {
  return 'Hello ' + name + '!';
}


//ES6 Version
const greet = name => {
  return `Hello ${name} !`;
}

In the ES5 version, If we need to add an expression or value in a string we need to use the + or string concatenation operator. In Template Literals, we can embed an expression using ${expr} which makes it cleaner than the ES5 version.