diff --git a/core/core.services.yml b/core/core.services.yml
index 05067ab598..6c0483a230 100644
--- a/core/core.services.yml
+++ b/core/core.services.yml
@@ -1771,6 +1771,9 @@ services:
     class: Drupal\Core\EventSubscriber\RssResponseRelativeUrlFilter
     tags:
       - { name: event_subscriber }
+  plugin.manager.entity.display_component_handler:
+    class: Drupal\Core\Entity\DisplayComponentHandlerPluginManager
+    parent: default_plugin_manager
   messenger:
     class: Drupal\Core\Messenger\Messenger
     arguments: ['@session.flash_bag', '@page_cache_kill_switch']
diff --git a/core/lib/Drupal/Core/Entity/Annotation/DisplayComponent.php b/core/lib/Drupal/Core/Entity/Annotation/DisplayComponent.php
new file mode 100644
index 0000000000..9bd43281be
--- /dev/null
+++ b/core/lib/Drupal/Core/Entity/Annotation/DisplayComponent.php
@@ -0,0 +1,21 @@
+<?php
+
+namespace Drupal\Core\Entity\Annotation;
+
+use Drupal\Component\Annotation\Plugin;
+
+/**
+ * Defines a DisplayComponent annotation object.
+ *
+ * @Annotation
+ */
+class DisplayComponent extends Plugin {
+
+  /**
+   * The plugin ID.
+   *
+   * @var string
+   */
+  public $id;
+
+}
diff --git a/core/lib/Drupal/Core/Entity/DisplayComponentHandlerBase.php b/core/lib/Drupal/Core/Entity/DisplayComponentHandlerBase.php
new file mode 100644
index 0000000000..2e79113dd0
--- /dev/null
+++ b/core/lib/Drupal/Core/Entity/DisplayComponentHandlerBase.php
@@ -0,0 +1,59 @@
+<?php
+
+namespace Drupal\Core\Entity;
+
+use Drupal\Component\Plugin\PluginBase;
+
+/**
+ * Provides a base class for DisplayComponentHandler plugins.
+ */
+abstract class DisplayComponentHandlerBase extends PluginBase implements DisplayComponentHandlerInterface {
+
+  /**
+   * The context in which the handler is being used.
+   *
+   * @var array
+   */
+  protected $context;
+
+  /**
+   * {@inheritdoc}
+   */
+  public function setContext(array $context) {
+    $this->context = $context;
+  }
+
+  /**
+   * {@inheritdoc}
+   */
+  public function prepareDisplayComponents(array &$components, array &$hidden_components) {
+  }
+
+  /**
+   * {@inheritdoc}
+   */
+  public function hasElement($name) {
+    return FALSE;
+  }
+
+  /**
+   * {@inheritdoc}
+   */
+  public function massageIn($name, array $options) {
+    return $options;
+  }
+
+  /**
+   * {@inheritdoc}
+   */
+  public function massageOut($properties) {
+    return $properties;
+  }
+
+  /**
+   * {@inheritdoc}
+   */
+  public function getRenderer($name, array $options) {
+  }
+
+}
diff --git a/core/lib/Drupal/Core/Entity/DisplayComponentHandlerInterface.php b/core/lib/Drupal/Core/Entity/DisplayComponentHandlerInterface.php
new file mode 100644
index 0000000000..ef04680bfb
--- /dev/null
+++ b/core/lib/Drupal/Core/Entity/DisplayComponentHandlerInterface.php
@@ -0,0 +1,83 @@
+<?php
+
+namespace Drupal\Core\Entity;
+
+/**
+ * Provides a base class for DisplayComponent plugins.
+ */
+interface DisplayComponentHandlerInterface {
+
+  /**
+   * Checks if the component handler should process the passed component.
+   *
+   * @param string $name
+   *   The name of a display component.
+   *
+   * @return bool
+   *   TRUE if the display component handler provides the component.
+   */
+  public function hasElement($name);
+
+  /**
+   * Prepares the options before they are stored.
+   *
+   * @param string $name
+   *   The name of a display component.
+   * @param array $options
+   *   The default options for this component.
+   *
+   * @return array
+   *   Massaged component options.
+   */
+  public function massageIn($name, array $options);
+
+  /**
+   * Sets the context for the rendering component.
+   *
+   * @param array $context
+   *   A keyed array containing the current entity display context. The
+   *   following parameters should be set:
+   *   - entity_type: The type of entity.
+   *   - bundle: The entity bundle.
+   *   - view_mode: The entity view mode (default, full).
+   *   - display_context: The type of the display to use (view or form).
+   */
+  public function setContext(array $context);
+
+  /**
+   * Returns the render plugin for the display component.
+   *
+   * @param string $name
+   *   The name of a display component.
+   * @param array $options
+   *   An array of configuration options to instantiate the render plugin.
+   *
+   * @return mixed
+   *   The object to render the component or null.
+   */
+  public function getRenderer($name, array $options);
+
+  /**
+   * Prepares components when the display gets created.
+   *
+   * @param array $components
+   *   The visible display components, passed by reference.
+   * @param array $hidden_components
+   *   The hidden display components, passed by reference.
+   */
+  public function prepareDisplayComponents(array &$components, array &$hidden_components);
+
+  /**
+   * Prepares the display options after they are retrieved from the storage.
+   *
+   * @param array $properties
+   *   The entity display properties.
+   *
+   * @return array
+   *   An associative array of the display components with following keys:
+   *   - content: Configured components to render.
+   *   - hidden: Configured components to hide from render.
+   */
+  public function massageOut(array $properties);
+
+}
diff --git a/core/lib/Drupal/Core/Entity/DisplayComponentHandlerPluginManager.php b/core/lib/Drupal/Core/Entity/DisplayComponentHandlerPluginManager.php
new file mode 100644
index 0000000000..21f24b7b2d
--- /dev/null
+++ b/core/lib/Drupal/Core/Entity/DisplayComponentHandlerPluginManager.php
@@ -0,0 +1,56 @@
+<?php
+
+namespace Drupal\Core\Entity;
+
+use Drupal\Core\Cache\CacheBackendInterface;
+use Drupal\Core\Extension\ModuleHandlerInterface;
+use Drupal\Core\Plugin\DefaultPluginManager;
+
+/**
+ * Manages entity display component handlers.
+ *
+ * The handlers are typically shared for the whole request. getInstance() holds
+ * the instantiated plugins and only instantiates one of each type.
+ *
+ * @see hook_display_component_handler_info_alter()
+ */
+class DisplayComponentHandlerPluginManager extends DefaultPluginManager {
+
+  /**
+   * The handlers that have already been instantiated by getInstance().
+   *
+   * @var array
+   */
+  protected $plugins = [];
+
+  /**
+   * Constructs a DisplayComponentHandlerPluginManager object.
+   *
+   * @param \Traversable $namespaces
+   *   An object that implements \Traversable which contains the root paths
+   *   keyed by the corresponding namespace to look for plugin implementations.
+   * @param \Drupal\Core\Cache\CacheBackendInterface $cache_backend
+   *   Cache backend instance to use.
+   * @param \Drupal\Core\Extension\ModuleHandlerInterface $module_handler
+   *   The module handler to invoke the alter hook with.
+   */
+  public function __construct(\Traversable $namespaces, CacheBackendInterface $cache_backend, ModuleHandlerInterface $module_handler) {
+    parent::__construct('Plugin/DisplayComponent', $namespaces, $module_handler, 'Drupal\Core\Entity\DisplayComponentHandlerInterface', 'Drupal\Core\Entity\Annotation\DisplayComponent');
+    $this->alterInfo('display_component_handler_info');
+    $this->setCacheBackend($cache_backend, 'display_component_handlers');
+  }
+
+  /**
+   * {@inheritdoc}
+   */
+  public function getInstance(array $options) {
+    $plugin_id = $options['type'];
+
+    if (!isset($this->plugins[$plugin_id]) && !array_key_exists($plugin_id, $this->plugins)) {
+      $this->plugins[$plugin_id] = $this->getDiscovery()->getDefinition($plugin_id) ? $this->createInstance($plugin_id) : NULL;
+    }
+
+    return $this->plugins[$plugin_id];
+  }
+
+}
diff --git a/core/lib/Drupal/Core/Entity/Entity/EntityFormDisplay.php b/core/lib/Drupal/Core/Entity/Entity/EntityFormDisplay.php
index 3dcffd2cfa..918ac21ee2 100644
--- a/core/lib/Drupal/Core/Entity/Entity/EntityFormDisplay.php
+++ b/core/lib/Drupal/Core/Entity/Entity/EntityFormDisplay.php
@@ -139,33 +139,6 @@ public function __construct(array $values, $entity_type) {
     parent::__construct($values, $entity_type);
   }
 
-  /**
-   * {@inheritdoc}
-   */
-  public function getRenderer($field_name) {
-    if (isset($this->plugins[$field_name])) {
-      return $this->plugins[$field_name];
-    }
-
-    // Instantiate the widget object from the stored display properties.
-    if (($configuration = $this->getComponent($field_name)) && isset($configuration['type']) && ($definition = $this->getFieldDefinition($field_name))) {
-      $widget = $this->pluginManager->getInstance([
-        'field_definition' => $definition,
-        'form_mode' => $this->originalMode,
-        // No need to prepare, defaults have been merged in setComponent().
-        'prepare' => FALSE,
-        'configuration' => $configuration,
-      ]);
-    }
-    else {
-      $widget = NULL;
-    }
-
-    // Persist the widget object.
-    $this->plugins[$field_name] = $widget;
-    return $widget;
-  }
-
   /**
    * {@inheritdoc}
    */
diff --git a/core/lib/Drupal/Core/Entity/EntityDisplayBase.php b/core/lib/Drupal/Core/Entity/EntityDisplayBase.php
index ee07817187..248bef7f3f 100644
--- a/core/lib/Drupal/Core/Entity/EntityDisplayBase.php
+++ b/core/lib/Drupal/Core/Entity/EntityDisplayBase.php
@@ -78,6 +78,13 @@ abstract class EntityDisplayBase extends ConfigEntityBase implements EntityDispl
    */
   protected $hidden = [];
 
+  /**
+   * The renderer objects used for this display, keyed by component name.
+   *
+   * @var array
+   */
+  protected $renderers = [];
+
   /**
    * The original view or form mode that was requested (case of view/form modes
    * being configured to fall back to the 'default' display).
@@ -114,6 +121,18 @@ abstract class EntityDisplayBase extends ConfigEntityBase implements EntityDispl
    */
   protected $renderer;
 
+  /**
+   * A mapping of display elements and its corresponding handler.
+   */
+  protected $handlers;
+
+  /**
+   * The display component handler plugin manager.
+   *
+   * @var \Drupal\Core\Entity\DisplayComponentHandlerPluginManager
+   */
+  protected $handlerManager;
+
   /**
    * {@inheritdoc}
    */
@@ -138,6 +157,8 @@ public function __construct(array $values, $entity_type) {
 
     parent::__construct($values, $entity_type);
 
+    $this->handlerManager = \Drupal::service('plugin.manager.entity.display_component_handler');
+
     $this->originalMode = $this->mode;
 
     $this->init();
@@ -296,13 +317,14 @@ public function calculateDependencies() {
    */
   public function toArray() {
     $properties = parent::toArray();
-    // Do not store options for fields whose display is not set to be
-    // configurable.
-    foreach ($this->getFieldDefinitions() as $field_name => $definition) {
-      if (!$definition->isDisplayConfigurable($this->displayContext)) {
-        unset($properties['content'][$field_name]);
-        unset($properties['hidden'][$field_name]);
-      }
+
+    // Let the component handlers add missing components.
+    if (!$this->handlerManager) {
+      $this->handlerManager = \Drupal::service('plugin.manager.entity.display_component_handler');
+    }
+    $handlers = $this->handlerManager->getDefinitions();
+    foreach (array_keys($handlers) as $type) {
+      $properties = $this->getComponentHandler($type)->massageOut($properties);
     }
 
     return $properties;
@@ -341,16 +363,19 @@ public function setComponent($name, array $options = []) {
       $options['weight'] = isset($max) ? $max + 1 : 0;
     }
 
-    // For a field, fill in default options.
-    if ($field_definition = $this->getFieldDefinition($name)) {
-      $options = $this->pluginManager->prepareConfiguration($field_definition->getType(), $options);
+    // Massage in some values.
+    if ($handler = $this->getComponentHandlerByElementName($name)) {
+      $options = $handler->massageIn($name, $options);
     }
 
     // Ensure we always have an empty settings and array.
     $options += ['settings' => [], 'third_party_settings' => []];
 
     $this->content[$name] = $options;
+
+    // Unset these to ensure new settings are picked up.
     unset($this->hidden[$name]);
+    unset($this->renderers[$name]);
     unset($this->plugins[$name]);
 
     return $this;
@@ -571,4 +596,72 @@ protected function getLogger() {
     return \Drupal::logger('system');
   }
 
+  /**
+   * Finds component handler by element name.
+   *
+   * @param string $name
+   *   The name of the element.
+   *
+   * @return \Drupal\Core\Entity\DisplayComponentHandlerInterface|false
+   *   The display component handler.
+   */
+  public function getComponentHandlerByElementName($name) {
+    if (!isset($this->handlers[$name])) {
+      $handlers = $this->handlerManager->getDefinitions();
+      $handler = FALSE;
+      foreach (array_keys($handlers) as $type) {
+        $handler = $this->getComponentHandler($type);
+        if ($handler && $handler->hasElement($name)) {
+          break;
+        }
+        $handler = FALSE;
+      }
+      $this->handlers[$name] = $handler;
+    }
+
+    return $this->handlers[$name];
+  }
+
+  /**
+   * Instantiates component handler.
+   *
+   * @param string $type
+   *   The type of component handler (field, extra_field).
+   *
+   * @return \Drupal\Core\Entity\DisplayComponentHandlerInterface
+   *   The display component handler.
+   */
+  public function getComponentHandler($type) {
+    $handler = $this->handlerManager->getInstance(['type' => $type]);
+    if ($handler) {
+      $handler->setContext([
+        'entity_type' => $this->targetEntityType,
+        'bundle' => $this->bundle,
+        'mode' => $this->originalMode,
+        'display_context' => $this->displayContext,
+      ]);
+    }
+    return $handler;
+  }
+
+  /**
+   * {@inheritdoc}
+   */
+  public function getRenderer($name) {
+    if (!isset($this->content[$name])) {
+      return NULL;
+    }
+
+    if (!array_key_exists($name, $this->renderers)) {
+      if ($handler = $this->getComponentHandlerByElementName($name)) {
+        $options = $this->getComponent($name);
+        $this->renderers[$name] = $handler->getRenderer($name, $options);
+      }
+      else {
+        $this->renderers[$name] = NULL;
+      }
+    }
+    return $this->renderers[$name];
+  }
+
 }
diff --git a/core/lib/Drupal/Core/Entity/EntityViewBuilder.php b/core/lib/Drupal/Core/Entity/EntityViewBuilder.php
index 2ff43fcb16..9da338c096 100644
--- a/core/lib/Drupal/Core/Entity/EntityViewBuilder.php
+++ b/core/lib/Drupal/Core/Entity/EntityViewBuilder.php
@@ -80,6 +80,20 @@ class EntityViewBuilder extends EntityHandlerBase implements EntityHandlerInterf
    */
   protected $singleFieldDisplays;
 
+  /**
+   * The entity field manager.
+   *
+   * @var \Drupal\Core\Entity\EntityFieldManagerInterface
+   */
+  protected $entityFieldManager;
+
+  /**
+   * The entity field manager.
+   *
+   * @var \Drupal\Core\Field\FormatterPluginManager
+   */
+  protected $formatterPluginManager;
+
   /**
    * Constructs a new EntityViewBuilder.
    *
@@ -101,6 +115,8 @@ public function __construct(EntityTypeInterface $entity_type, EntityRepositoryIn
     $this->languageManager = $language_manager;
     $this->themeRegistry = $theme_registry;
     $this->entityDisplayRepository = $entity_display_repository;
+    $this->entityFieldManager = \Drupal::service('entity_field.manager');
+    $this->formatterPluginManager = \Drupal::service('plugin.manager.field.formatter');
   }
 
   /**
@@ -523,6 +539,10 @@ protected function getSingleFieldDisplay($entity, $field_name, $display_options)
       $bundle = $entity->bundle();
       $key = $entity_type_id . ':' . $bundle . ':' . $field_name . ':' . Crypt::hashBase64(serialize($display_options));
       if (!isset($this->singleFieldDisplays[$key])) {
+        $definitions = $this->entityFieldManager->getBaseFieldDefinitions($entity_type_id);
+        if (isset($definitions[$field_name])) {
+          $display_options = $this->formatterPluginManager->prepareConfiguration($definitions[$field_name]->getType(), $display_options);
+        }
         $this->singleFieldDisplays[$key] = EntityViewDisplay::create([
           'targetEntityType' => $entity_type_id,
           'bundle' => $bundle,
diff --git a/core/lib/Drupal/Core/Entity/Plugin/DisplayComponent/ExtraFieldDisplayComponentHandler.php b/core/lib/Drupal/Core/Entity/Plugin/DisplayComponent/ExtraFieldDisplayComponentHandler.php
new file mode 100644
index 0000000000..171d6b3406
--- /dev/null
+++ b/core/lib/Drupal/Core/Entity/Plugin/DisplayComponent/ExtraFieldDisplayComponentHandler.php
@@ -0,0 +1,93 @@
+<?php
+
+namespace Drupal\Core\Entity\Plugin\DisplayComponent;
+
+use Drupal\Core\Entity\DisplayComponentHandlerBase;
+use Drupal\Core\Entity\EntityFieldManagerInterface;
+use Drupal\Core\Plugin\ContainerFactoryPluginInterface;
+use Symfony\Component\DependencyInjection\ContainerInterface;
+
+/**
+ * Provides a component handler to manage entity extra fields.
+ *
+ * @DisplayComponent(
+ *   id = "extra_field"
+ * )
+ */
+class ExtraFieldDisplayComponentHandler extends DisplayComponentHandlerBase implements ContainerFactoryPluginInterface {
+
+  /**
+   * The entity field manager.
+   *
+   * @var \Drupal\Core\Entity\EntityFieldManagerInterface
+   */
+  protected $entityFieldManager;
+
+  /**
+   * Constructs a FieldDisplayComponentHandler object.
+   *
+   * @param array $configuration
+   *   A configuration array containing information about the plugin instance.
+   * @param string $plugin_id
+   *   The plugin ID for the plugin instance.
+   * @param array $plugin_definition
+   *   The plugin implementation definition.
+   * @param \Drupal\Core\Entity\EntityFieldManagerInterface $entity_field_manager
+   *   The entity field manager.
+   */
+  public function __construct(array $configuration, $plugin_id, array $plugin_definition, EntityFieldManagerInterface $entity_field_manager) {
+    parent::__construct($configuration, $plugin_id, $plugin_definition);
+    $this->entityFieldManager = $entity_field_manager;
+  }
+
+  /**
+   * {@inheritdoc}
+   */
+  public static function create(ContainerInterface $container, array $configuration, $plugin_id, $plugin_definition) {
+    return new static(
+      $configuration,
+      $plugin_id,
+      $plugin_definition,
+      $container->get('entity_field.manager')
+    );
+  }
+
+  /**
+   * {@inheritdoc}
+   */
+  public function prepareDisplayComponents(array &$components, array &$hidden_components) {
+    // Fill in defaults for extra fields.
+    $extra_fields = $this->fetchExtraFields();
+    foreach ($extra_fields as $name => $definition) {
+      if (!isset($components[$name]) && !isset($hidden_components[$name])) {
+        // Extra fields are visible by default unless they explicitly say so.
+        if (!isset($definition['visible']) || $definition['visible'] == TRUE) {
+          $components[$name] = [
+            'weight' => $definition['weight'],
+          ];
+        }
+        else {
+          $hidden_components[$name] = TRUE;
+        }
+      }
+    }
+  }
+
+  /**
+   * {@inheritdoc}
+   */
+  public function hasElement($name) {
+    $extra_fields = $this->fetchExtraFields();
+    return isset($extra_fields[$name]);
+  }
+
+  /**
+   * Fetches all the extra fields.
+   */
+  protected function fetchExtraFields() {
+    $context = $this->context['display_context'] == 'view' ? 'display' : $this->context['display_context'];
+    $extra_fields = $this->entityFieldManager->getExtraFields($this->context['entity_type'], $this->context['bundle']);
+    return $extra_fields[$context] ?? [];
+  }
+
+}
diff --git a/core/lib/Drupal/Core/Entity/Plugin/DisplayComponent/FieldDisplayComponentHandler.php b/core/lib/Drupal/Core/Entity/Plugin/DisplayComponent/FieldDisplayComponentHandler.php
new file mode 100644
index 0000000000..6dd3a89ecf
--- /dev/null
+++ b/core/lib/Drupal/Core/Entity/Plugin/DisplayComponent/FieldDisplayComponentHandler.php
@@ -0,0 +1,198 @@
+<?php
+
+namespace Drupal\Core\Entity\Plugin\DisplayComponent;
+
+use Drupal\Core\Entity\DisplayComponentHandlerBase;
+use Drupal\Core\Entity\EntityFieldManagerInterface;
+use Drupal\Core\Field\FieldDefinitionInterface;
+use Drupal\Core\Field\FormatterPluginManager;
+use Drupal\Core\Field\WidgetPluginManager;
+use Drupal\Core\Plugin\ContainerFactoryPluginInterface;
+use Symfony\Component\DependencyInjection\ContainerInterface;
+
+/**
+ * Provides a component handler to manage entity fields.
+ *
+ * @DisplayComponent(
+ *   id = "field"
+ * )
+ */
+class FieldDisplayComponentHandler extends DisplayComponentHandlerBase implements ContainerFactoryPluginInterface {
+
+  /**
+   * The field formatter plugin manager.
+   *
+   * @var \Drupal\Core\Field\FormatterPluginManager
+   */
+  protected $formatterPluginManager;
+
+  /**
+   * The field widget plugin manager.
+   *
+   * @var \Drupal\Core\Field\WidgetPluginManager
+   */
+  protected $widgetPluginManager;
+
+  /**
+   * The entity field manager.
+   *
+   * @var \Drupal\Core\Entity\EntityFieldManagerInterface
+   */
+  protected $entityFieldManager;
+
+  /**
+   * Constructs a FieldDisplayComponentHandler object.
+   *
+   * @param array $configuration
+   *   A configuration array containing information about the plugin instance.
+   * @param string $plugin_id
+   *   The plugin ID for the plugin instance.
+   * @param array $plugin_definition
+   *   The plugin implementation definition.
+   * @param \Drupal\Core\Field\FormatterPluginManager $formatter_plugin_manager
+   *   The field formatter plugin manager.
+   * @param \Drupal\Core\Field\WidgetPluginManager $widget_plugin_manager
+   *   The field widget plugin manager.
+   * @param \Drupal\Core\Entity\EntityFieldManagerInterface $entity_field_manager
+   *   The entity field manager.
+   */
+  public function __construct(array $configuration, $plugin_id, array $plugin_definition, FormatterPluginManager $formatter_plugin_manager, WidgetPluginManager $widget_plugin_manager, EntityFieldManagerInterface $entity_field_manager) {
+    parent::__construct($configuration, $plugin_id, $plugin_definition);
+    $this->formatterPluginManager = $formatter_plugin_manager;
+    $this->widgetPluginManager = $widget_plugin_manager;
+    $this->entityFieldManager = $entity_field_manager;
+  }
+
+  /**
+   * {@inheritdoc}
+   */
+  public static function create(ContainerInterface $container, array $configuration, $plugin_id, $plugin_definition) {
+    return new static($configuration, $plugin_id, $plugin_definition,
+      $container->get('plugin.manager.field.formatter'),
+      $container->get('plugin.manager.field.widget'),
+      $container->get('entity_field.manager')
+    );
+  }
+
+  /**
+   * {@inheritdoc}
+   */
+  public function massageIn($name, array $options) {
+    $field_definition = $this->getFieldDefinition($name);
+    if (!isset($field_definition)) {
+      // The field in process of removal from display.
+      return $options;
+    }
+    if ($this->context['display_context'] == 'view') {
+      return $this->formatterPluginManager->prepareConfiguration($field_definition->getType(), $options);
+    }
+    else {
+      return $this->widgetPluginManager->prepareConfiguration($field_definition->getType(), $options);
+    }
+  }
+
+  /**
+   * {@inheritdoc}
+   */
+  public function massageOut($properties) {
+    // Do not store options for fields whose display is not set to be
+    // configurable.
+    foreach ($this->getDisplayableFields() as $field_name => $definition) {
+      if (!$definition->isDisplayConfigurable($this->context['display_context'])) {
+        unset($properties['content'][$field_name]);
+        unset($properties['hidden'][$field_name]);
+      }
+    }
+
+    return $properties;
+  }
+
+  /**
+   * {@inheritdoc}
+   */
+  public function prepareDisplayComponents(array &$components, array &$hidden_components) {
+    if ($this->context['display_context'] == 'view') {
+      $plugin_manager = $this->formatterPluginManager;
+    }
+    else {
+      $plugin_manager = $this->widgetPluginManager;
+    }
+
+    // Fill in defaults for fields.
+    $fields = $this->getDisplayableFields();
+    foreach ($fields as $name => $definition) {
+      if (!$definition->isDisplayConfigurable($this->context['display_context']) || (!isset($components[$name]) && !isset($hidden_components[$name]))) {
+        $options = $definition->getDisplayOptions($this->context['display_context']);
+
+        if (!empty($options['type']) && $options['type'] == 'hidden') {
+          $hidden_components[$name] = TRUE;
+        }
+        elseif ($options) {
+          $components[$name] = $plugin_manager->prepareConfiguration($definition->getType(), $options);
+        }
+        // Note: (base) fields that do not specify display options are not
+        // tracked in the display at all, in order to avoid cluttering the
+        // configuration that gets saved back.
+      }
+    }
+  }
+
+  /**
+   * {@inheritdoc}
+   */
+  public function getRenderer($name, array $options) {
+    if (isset($options['type']) && ($definition = $this->getFieldDefinition($name))) {
+      if ($this->context['display_context'] == 'view') {
+        $plugin_manager = $this->formatterPluginManager;
+        $mode_key = 'view_mode';
+      }
+      else {
+        $plugin_manager = $this->widgetPluginManager;
+        $mode_key = 'form_mode';
+      }
+
+      return $plugin_manager->getInstance([
+        'field_definition' => $definition,
+        $mode_key => $this->context['mode'],
+        // No need to prepare, defaults have been merged when the options were
+        // written in the display.
+        'prepare' => FALSE,
+        'configuration' => $options,
+      ]);
+    }
+    return NULL;
+  }
+
+  /**
+   * {@inheritdoc}
+   */
+  public function hasElement($name) {
+    $field_definition = $this->getFieldDefinition($name);
+    return isset($field_definition);
+  }
+
+  /**
+   * Returns the field definition of a field.
+   */
+  protected function getFieldDefinition($field_name) {
+    $definitions = $this->getDisplayableFields();
+    return $definitions[$field_name] ?? NULL;
+  }
+
+  /**
+   * Returns the definitions of the fields that are candidate for display.
+   */
+  protected function getDisplayableFields() {
+    $entity_type = $this->context['entity_type'];
+    $bundle = $this->context['bundle'];
+    $display_context = $this->context['display_context'];
+    $definitions = $this->entityFieldManager->getFieldDefinitions($entity_type, $bundle);
+
+    // The display only cares about fields that specify display options.
+    // Discard base fields that are not rendered through formatters / widgets.
+    return array_filter($definitions, function (FieldDefinitionInterface $definition) use ($display_context) {
+      return $definition->getDisplayOptions($display_context);
+    });
+  }
+
+}
diff --git a/core/lib/Drupal/Core/Entity/entity.api.php b/core/lib/Drupal/Core/Entity/entity.api.php
index deb6a75e29..0c54dbbcc0 100644
--- a/core/lib/Drupal/Core/Entity/entity.api.php
+++ b/core/lib/Drupal/Core/Entity/entity.api.php
@@ -2255,6 +2255,21 @@ function hook_entity_extra_field_info_alter(&$info) {
   }
 }
 
+/**
+ * Modify the list of available component handler plugins.
+ *
+ * This hook may be used to modify plugin properties after they have been
+ * specified by other modules.
+ *
+ * @param string[] $plugins
+ *   An array of all the existing plugin definitions, passed by reference.
+ *
+ * @see DisplayComponentHandlerPluginManager
+ */
+function hook_display_component_handler_info_alter(array &$plugins) {
+  $plugins['some_plugin']['label'] = t('Better name');
+}
+
 /**
  * @} End of "addtogroup hooks".
  */
diff --git a/core/lib/Drupal/Core/Field/FormatterPluginManager.php b/core/lib/Drupal/Core/Field/FormatterPluginManager.php
index c4df0f5f2f..70a4313e30 100644
--- a/core/lib/Drupal/Core/Field/FormatterPluginManager.php
+++ b/core/lib/Drupal/Core/Field/FormatterPluginManager.php
@@ -56,6 +56,12 @@ public function createInstance($plugin_id, array $configuration = []) {
     $plugin_definition = $this->getDefinition($plugin_id);
     $plugin_class = DefaultFactory::getPluginClass($plugin_id, $plugin_definition);
 
+    // @todo is this missing somewhere else?
+    if (!isset($configuration['label'])) {
+      $configuration['label'] = '';
+      assert(FALSE, sprintf('The %s does not have a label', $plugin_id));
+    }
+
     // @todo This is copied from \Drupal\Core\Plugin\Factory\ContainerFactory.
     //   Find a way to restore sanity to
     //   \Drupal\Core\Field\FormatterBase::__construct().
diff --git a/core/modules/views/src/Entity/Render/EntityFieldRenderer.php b/core/modules/views/src/Entity/Render/EntityFieldRenderer.php
index 7002c73403..d0ed45d0ca 100644
--- a/core/modules/views/src/Entity/Render/EntityFieldRenderer.php
+++ b/core/modules/views/src/Entity/Render/EntityFieldRenderer.php
@@ -250,6 +250,7 @@ protected function buildFields(array $values) {
             $display->setComponent($field->definition['field_name'], [
               'type' => $field->options['type'],
               'settings' => $field->options['settings'],
+              'label' => $field->label(),
             ]);
           }
           // Let the display build the render array for the entities.