The All in One Icon Component integrates a comprehensive collection of 45,935 icons from 31 different libraries into a single, customizable component. This integration addresses the absence of popular icon libraries such as Font Awesome, Bootstrap icons, and Ionicons in Framer. The component has been updated to version 1.1, which includes a new feature allowing users to export icons in SVG or PNG formats. This makes it a versatile tool for designers looking to incorporate a wide range of icons into their projects efficiently.