Homogeneous catalysis refers to a catalytic process where the catalyst is in the same phase as the reactants, typically in a solution. This type of catalysis allows for more efficient interactions between the catalyst and the reactants, often leading to higher reaction rates and selectivity. Homogeneous catalysis plays a significant role in various applications, particularly in organic synthesis and industrial processes, where the control of reaction conditions can be finely tuned due to the uniformity of the mixture.