diff --git a/CODEOWNERS b/CODEOWNERS
index 3646c36422d..46e66291eeb 100644
--- a/CODEOWNERS
+++ b/CODEOWNERS
@@ -1156,6 +1156,8 @@ build.json @home-assistant/supervisor
 /tests/components/template/ @PhracturedBlue @tetienne @home-assistant/core
 /homeassistant/components/tesla_wall_connector/ @einarhauks
 /tests/components/tesla_wall_connector/ @einarhauks
+/homeassistant/components/text/ @home-assistant/core
+/tests/components/text/ @home-assistant/core
 /homeassistant/components/tfiac/ @fredrike @mellado
 /homeassistant/components/thermobeacon/ @bdraco
 /tests/components/thermobeacon/ @bdraco
diff --git a/homeassistant/components/demo/__init__.py b/homeassistant/components/demo/__init__.py
index dd14d9f7b2a..ae6912fa0f9 100644
--- a/homeassistant/components/demo/__init__.py
+++ b/homeassistant/components/demo/__init__.py
@@ -52,6 +52,7 @@ COMPONENTS_WITH_CONFIG_ENTRY_DEMO_PLATFORM = [
     Platform.SENSOR,
     Platform.SIREN,
     Platform.SWITCH,
+    Platform.TEXT,
     Platform.UPDATE,
     Platform.VACUUM,
     Platform.WATER_HEATER,
diff --git a/homeassistant/components/demo/text.py b/homeassistant/components/demo/text.py
new file mode 100644
index 00000000000..efce1af5c37
--- /dev/null
+++ b/homeassistant/components/demo/text.py
@@ -0,0 +1,101 @@
+"""Demo platform that offers a fake text entity."""
+from __future__ import annotations
+
+from homeassistant.components.text import TextEntity, TextMode
+from homeassistant.config_entries import ConfigEntry
+from homeassistant.const import DEVICE_DEFAULT_NAME
+from homeassistant.core import HomeAssistant
+from homeassistant.helpers.entity import DeviceInfo
+from homeassistant.helpers.entity_platform import AddEntitiesCallback
+from homeassistant.helpers.typing import ConfigType, DiscoveryInfoType
+
+from . import DOMAIN
+
+
+async def async_setup_platform(
+    hass: HomeAssistant,
+    config: ConfigType,
+    async_add_entities: AddEntitiesCallback,
+    discovery_info: DiscoveryInfoType | None = None,
+) -> None:
+    """Set up the demo Text entity."""
+    async_add_entities(
+        [
+            DemoText(
+                unique_id="text",
+                name="Text",
+                icon=None,
+                native_value="Hello world",
+            ),
+            DemoText(
+                unique_id="password",
+                name="Password",
+                icon="mdi:text",
+                native_value="Hello world",
+                mode=TextMode.PASSWORD,
+            ),
+            DemoText(
+                unique_id="text_1_to_5_char",
+                name="Text with 1 to 5 characters",
+                icon="mdi:text",
+                native_value="Hello",
+                native_min=1,
+                native_max=5,
+            ),
+            DemoText(
+                unique_id="text_lowercase",
+                name="Text with only lower case characters",
+                icon="mdi:text",
+                native_value="world",
+                pattern=r"[a-z]+",
+            ),
+        ]
+    )
+
+
+async def async_setup_entry(
+    hass: HomeAssistant,
+    config_entry: ConfigEntry,
+    async_add_entities: AddEntitiesCallback,
+) -> None:
+    """Set up the Demo config entry."""
+    await async_setup_platform(hass, {}, async_add_entities)
+
+
+class DemoText(TextEntity):
+    """Representation of a demo text entity."""
+
+    _attr_should_poll = False
+
+    def __init__(
+        self,
+        unique_id: str,
+        name: str,
+        icon: str | None,
+        native_value: str | None,
+        mode: TextMode = TextMode.TEXT,
+        native_max: int | None = None,
+        native_min: int | None = None,
+        pattern: str | None = None,
+    ) -> None:
+        """Initialize the Demo text entity."""
+        self._attr_unique_id = unique_id
+        self._attr_name = name or DEVICE_DEFAULT_NAME
+        self._attr_native_value = native_value
+        self._attr_icon = icon
+        self._attr_mode = mode
+        if native_max is not None:
+            self._attr_native_max = native_max
+        if native_min is not None:
+            self._attr_native_min = native_min
+        if pattern is not None:
+            self._attr_pattern = pattern
+        self._attr_device_info = DeviceInfo(
+            identifiers={(DOMAIN, unique_id)},
+            name=name,
+        )
+
+    async def async_set_value(self, value: str) -> None:
+        """Update the value."""
+        self._attr_native_value = value
+        self.async_write_ha_state()
diff --git a/homeassistant/components/text/__init__.py b/homeassistant/components/text/__init__.py
new file mode 100644
index 00000000000..35c7d5d94ef
--- /dev/null
+++ b/homeassistant/components/text/__init__.py
@@ -0,0 +1,224 @@
+"""Component to allow setting text as platforms."""
+from __future__ import annotations
+
+from dataclasses import dataclass
+from datetime import timedelta
+import logging
+import re
+from typing import Any, final
+
+import voluptuous as vol
+
+from homeassistant.backports.enum import StrEnum
+from homeassistant.config_entries import ConfigEntry
+from homeassistant.const import MAX_LENGTH_STATE_STATE
+from homeassistant.core import HomeAssistant, ServiceCall
+from homeassistant.helpers import config_validation as cv
+from homeassistant.helpers.config_validation import (  # noqa: F401
+    PLATFORM_SCHEMA,
+    PLATFORM_SCHEMA_BASE,
+)
+from homeassistant.helpers.entity import Entity, EntityDescription
+from homeassistant.helpers.entity_component import EntityComponent
+from homeassistant.helpers.typing import ConfigType
+
+from .const import (
+    ATTR_MAX,
+    ATTR_MIN,
+    ATTR_MODE,
+    ATTR_PATTERN,
+    ATTR_VALUE,
+    DOMAIN,
+    SERVICE_SET_VALUE,
+)
+
+SCAN_INTERVAL = timedelta(seconds=30)
+
+ENTITY_ID_FORMAT = DOMAIN + ".{}"
+
+MIN_TIME_BETWEEN_SCANS = timedelta(seconds=10)
+
+_LOGGER = logging.getLogger(__name__)
+
+__all__ = ["DOMAIN", "TextEntity", "TextEntityDescription", "TextMode"]
+
+
+async def async_setup(hass: HomeAssistant, config: ConfigType) -> bool:
+    """Set up Text entities."""
+    component = hass.data[DOMAIN] = EntityComponent[TextEntity](
+        _LOGGER, DOMAIN, hass, SCAN_INTERVAL
+    )
+    await component.async_setup(config)
+
+    component.async_register_entity_service(
+        SERVICE_SET_VALUE,
+        {vol.Required(ATTR_VALUE): cv.string},
+        _async_set_value,
+    )
+
+    return True
+
+
+async def _async_set_value(entity: TextEntity, service_call: ServiceCall) -> None:
+    """Service call wrapper to set a new value."""
+    value = service_call.data[ATTR_VALUE]
+    if len(value) < entity.min:
+        raise ValueError(
+            f"Value {value} for {entity.name} is too short (minimum length {entity.min})"
+        )
+    if len(value) > entity.max:
+        raise ValueError(
+            f"Value {value} for {entity.name} is too long (maximum length {entity.max})"
+        )
+    if entity.pattern_cmp and not entity.pattern_cmp.match(value):
+        raise ValueError(
+            f"Value {value} for {entity.name} doesn't match pattern {entity.pattern}"
+        )
+    await entity.async_set_value(value)
+
+
+async def async_setup_entry(hass: HomeAssistant, entry: ConfigEntry) -> bool:
+    """Set up a config entry."""
+    component: EntityComponent[TextEntity] = hass.data[DOMAIN]
+    return await component.async_setup_entry(entry)
+
+
+async def async_unload_entry(hass: HomeAssistant, entry: ConfigEntry) -> bool:
+    """Unload a config entry."""
+    component: EntityComponent[TextEntity] = hass.data[DOMAIN]
+    return await component.async_unload_entry(entry)
+
+
+class TextMode(StrEnum):
+    """Modes for text entities."""
+
+    PASSWORD = "password"
+    TEXT = "text"
+
+
+@dataclass
+class TextEntityDescription(EntityDescription):
+    """A class that describes text entities."""
+
+    native_min: int = 0
+    native_max: int = MAX_LENGTH_STATE_STATE
+    mode: TextMode = TextMode.TEXT
+    pattern: str | None = None
+
+
+class TextEntity(Entity):
+    """Representation of a Text entity."""
+
+    entity_description: TextEntityDescription
+    _attr_mode: TextMode
+    _attr_native_value: str | None
+    _attr_native_min: int
+    _attr_native_max: int
+    _attr_pattern: str | None
+    _attr_state: None = None
+    __pattern_cmp: re.Pattern | None = None
+
+    @property
+    def capability_attributes(self) -> dict[str, Any]:
+        """Return capability attributes."""
+        return {
+            ATTR_MODE: self.mode,
+            ATTR_MIN: self.min,
+            ATTR_MAX: self.max,
+            ATTR_PATTERN: self.pattern,
+        }
+
+    @property
+    @final
+    def state(self) -> str | None:
+        """Return the entity state."""
+        if self.native_value is None:
+            return None
+        if len(self.native_value) < self.min:
+            raise ValueError(
+                f"Entity {self.entity_id} provides state {self.native_value} which is "
+                f"too short (minimum length {self.min})"
+            )
+        if len(self.native_value) > self.max:
+            raise ValueError(
+                f"Entity {self.entity_id} provides state {self.native_value} which is "
+                f"too long (maximum length {self.max})"
+            )
+        if self.pattern_cmp and not self.pattern_cmp.match(self.native_value):
+            raise ValueError(
+                f"Entity {self.entity_id} provides state {self.native_value} which "
+                f"does not match expected pattern {self.pattern}"
+            )
+        return self.native_value
+
+    @property
+    def mode(self) -> TextMode:
+        """Return the mode of the entity."""
+        if hasattr(self, "_attr_mode"):
+            return self._attr_mode
+        if hasattr(self, "entity_description"):
+            return self.entity_description.mode
+        return TextMode.TEXT
+
+    @property
+    def native_min(self) -> int:
+        """Return the minimum length of the value."""
+        if hasattr(self, "_attr_native_min"):
+            return self._attr_native_min
+        if hasattr(self, "entity_description"):
+            return self.entity_description.native_min
+        return 0
+
+    @property
+    @final
+    def min(self) -> int:
+        """Return the minimum length of the value."""
+        return max(self.native_min, 0)
+
+    @property
+    def native_max(self) -> int:
+        """Return the maximum length of the value."""
+        if hasattr(self, "_attr_native_max"):
+            return self._attr_native_max
+        if hasattr(self, "entity_description"):
+            return self.entity_description.native_max
+        return MAX_LENGTH_STATE_STATE
+
+    @property
+    @final
+    def max(self) -> int:
+        """Return the maximum length of the value."""
+        return min(self.native_max, MAX_LENGTH_STATE_STATE)
+
+    @property
+    @final
+    def pattern_cmp(self) -> re.Pattern | None:
+        """Return a compiled pattern."""
+        if self.pattern is None:
+            self.__pattern_cmp = None
+            return None
+        if not self.__pattern_cmp or self.pattern != self.__pattern_cmp.pattern:
+            self.__pattern_cmp = re.compile(self.pattern)
+        return self.__pattern_cmp
+
+    @property
+    def pattern(self) -> str | None:
+        """Return the regex pattern that the value must match."""
+        if hasattr(self, "_attr_pattern"):
+            return self._attr_pattern
+        if hasattr(self, "entity_description"):
+            return self.entity_description.pattern
+        return None
+
+    @property
+    def native_value(self) -> str | None:
+        """Return the value reported by the text."""
+        return self._attr_native_value
+
+    def set_value(self, value: str) -> None:
+        """Change the value."""
+        raise NotImplementedError()
+
+    async def async_set_value(self, value: str) -> None:
+        """Change the value."""
+        await self.hass.async_add_executor_job(self.set_value, value)
diff --git a/homeassistant/components/text/const.py b/homeassistant/components/text/const.py
new file mode 100644
index 00000000000..3670c30120b
--- /dev/null
+++ b/homeassistant/components/text/const.py
@@ -0,0 +1,11 @@
+"""Provides the constants needed for the component."""
+
+DOMAIN = "text"
+
+ATTR_MAX = "max"
+ATTR_MIN = "min"
+ATTR_MODE = "mode"
+ATTR_PATTERN = "pattern"
+ATTR_VALUE = "value"
+
+SERVICE_SET_VALUE = "set_value"
diff --git a/homeassistant/components/text/manifest.json b/homeassistant/components/text/manifest.json
new file mode 100644
index 00000000000..3e45499302a
--- /dev/null
+++ b/homeassistant/components/text/manifest.json
@@ -0,0 +1,8 @@
+{
+  "domain": "text",
+  "name": "Text",
+  "documentation": "https://www.home-assistant.io/integrations/text",
+  "codeowners": ["@home-assistant/core"],
+  "quality_scale": "internal",
+  "integration_type": "entity"
+}
diff --git a/homeassistant/components/text/recorder.py b/homeassistant/components/text/recorder.py
new file mode 100644
index 00000000000..09642eb3079
--- /dev/null
+++ b/homeassistant/components/text/recorder.py
@@ -0,0 +1,12 @@
+"""Integration platform for recorder."""
+from __future__ import annotations
+
+from homeassistant.core import HomeAssistant, callback
+
+from . import ATTR_MAX, ATTR_MIN, ATTR_MODE, ATTR_PATTERN
+
+
+@callback
+def exclude_attributes(hass: HomeAssistant) -> set[str]:
+    """Exclude static attributes from being recorded in the database."""
+    return {ATTR_MAX, ATTR_MIN, ATTR_MODE, ATTR_PATTERN}
diff --git a/homeassistant/components/text/services.yaml b/homeassistant/components/text/services.yaml
new file mode 100644
index 00000000000..00dd0ecafd2
--- /dev/null
+++ b/homeassistant/components/text/services.yaml
@@ -0,0 +1,14 @@
+set_value:
+  name: Set value
+  description: Set value of a text entity.
+  target:
+    entity:
+      domain: text
+  fields:
+    value:
+      name: Value
+      description: Value to set.
+      required: true
+      example: "Hello world!"
+      selector:
+        text:
diff --git a/homeassistant/components/text/strings.json b/homeassistant/components/text/strings.json
new file mode 100644
index 00000000000..8d4d14669a0
--- /dev/null
+++ b/homeassistant/components/text/strings.json
@@ -0,0 +1,3 @@
+{
+  "title": "Text"
+}
diff --git a/homeassistant/const.py b/homeassistant/const.py
index e01a9775917..22b7ea5ab50 100644
--- a/homeassistant/const.py
+++ b/homeassistant/const.py
@@ -49,6 +49,7 @@ class Platform(StrEnum):
     SIREN = "siren"
     STT = "stt"
     SWITCH = "switch"
+    TEXT = "text"
     TTS = "tts"
     VACUUM = "vacuum"
     UPDATE = "update"
diff --git a/tests/components/demo/test_text.py b/tests/components/demo/test_text.py
new file mode 100644
index 00000000000..df93531bd1a
--- /dev/null
+++ b/tests/components/demo/test_text.py
@@ -0,0 +1,44 @@
+"""The tests for the demo text component."""
+import pytest
+
+from homeassistant.components.text import (
+    ATTR_MAX,
+    ATTR_MIN,
+    ATTR_PATTERN,
+    ATTR_VALUE,
+    DOMAIN,
+    SERVICE_SET_VALUE,
+)
+from homeassistant.const import ATTR_ENTITY_ID, ATTR_MODE, MAX_LENGTH_STATE_STATE
+from homeassistant.setup import async_setup_component
+
+ENTITY_TEXT = "text.text"
+
+
+@pytest.fixture(autouse=True)
+async def setup_demo_text(hass):
+    """Initialize setup demo text."""
+    assert await async_setup_component(hass, DOMAIN, {"text": {"platform": "demo"}})
+    await hass.async_block_till_done()
+
+
+def test_setup_params(hass):
+    """Test the initial parameters."""
+    state = hass.states.get(ENTITY_TEXT)
+    assert state.state == "Hello world"
+    assert state.attributes[ATTR_MIN] == 0
+    assert state.attributes[ATTR_MAX] == MAX_LENGTH_STATE_STATE
+    assert state.attributes[ATTR_PATTERN] is None
+    assert state.attributes[ATTR_MODE] == "text"
+
+
+async def test_set_value(hass):
+    """Test set value service."""
+    await hass.services.async_call(
+        DOMAIN,
+        SERVICE_SET_VALUE,
+        {ATTR_ENTITY_ID: ENTITY_TEXT, ATTR_VALUE: "new"},
+        blocking=True,
+    )
+    state = hass.states.get(ENTITY_TEXT)
+    assert state.state == "new"
diff --git a/tests/components/text/__init__.py b/tests/components/text/__init__.py
new file mode 100644
index 00000000000..e22fa1d34a1
--- /dev/null
+++ b/tests/components/text/__init__.py
@@ -0,0 +1 @@
+"""Tests for the text component."""
diff --git a/tests/components/text/test_init.py b/tests/components/text/test_init.py
new file mode 100644
index 00000000000..1bbb3e1e1b0
--- /dev/null
+++ b/tests/components/text/test_init.py
@@ -0,0 +1,104 @@
+"""The tests for the text component."""
+import pytest
+
+from homeassistant.components.text import (
+    ATTR_MAX,
+    ATTR_MIN,
+    ATTR_MODE,
+    ATTR_PATTERN,
+    ATTR_VALUE,
+    DOMAIN,
+    SERVICE_SET_VALUE,
+    TextEntity,
+    TextMode,
+    _async_set_value,
+)
+from homeassistant.const import MAX_LENGTH_STATE_STATE
+from homeassistant.core import ServiceCall
+
+
+class MockTextEntity(TextEntity):
+    """Mock text device to use in tests."""
+
+    def __init__(
+        self, native_value="test", native_min=None, native_max=None, pattern=None
+    ):
+        """Initialize mock text entity."""
+        self._attr_native_value = native_value
+        if native_min is not None:
+            self._attr_native_min = native_min
+        if native_max is not None:
+            self._attr_native_max = native_max
+        if pattern is not None:
+            self._attr_pattern = pattern
+
+    async def async_set_value(self, value: str) -> None:
+        """Set the value of the text."""
+        self._attr_native_value = value
+
+
+async def test_text_default(hass):
+    """Test text entity with defaults."""
+    text = MockTextEntity()
+    text.hass = hass
+
+    assert text.capability_attributes == {
+        ATTR_MIN: 0,
+        ATTR_MAX: MAX_LENGTH_STATE_STATE,
+        ATTR_MODE: TextMode.TEXT,
+        ATTR_PATTERN: None,
+    }
+    assert text.pattern is None
+    assert text.state == "test"
+
+
+async def test_text_new_min_max_pattern(hass):
+    """Test text entity with new min, max, and pattern."""
+    text = MockTextEntity(native_min=-1, native_max=500, pattern=r"[a-z]")
+    text.hass = hass
+
+    assert text.capability_attributes == {
+        ATTR_MIN: 0,
+        ATTR_MAX: MAX_LENGTH_STATE_STATE,
+        ATTR_MODE: TextMode.TEXT,
+        ATTR_PATTERN: r"[a-z]",
+    }
+
+
+async def test_text_set_value(hass):
+    """Test text entity with set_value service."""
+    text = MockTextEntity(native_min=1, native_max=5, pattern=r"[a-z]")
+    text.hass = hass
+
+    with pytest.raises(ValueError):
+        await _async_set_value(
+            text, ServiceCall(DOMAIN, SERVICE_SET_VALUE, {ATTR_VALUE: ""})
+        )
+
+    with pytest.raises(ValueError):
+        await _async_set_value(
+            text, ServiceCall(DOMAIN, SERVICE_SET_VALUE, {ATTR_VALUE: "hello world!"})
+        )
+
+    with pytest.raises(ValueError):
+        await _async_set_value(
+            text, ServiceCall(DOMAIN, SERVICE_SET_VALUE, {ATTR_VALUE: "HELLO"})
+        )
+
+    await _async_set_value(
+        text, ServiceCall(DOMAIN, SERVICE_SET_VALUE, {ATTR_VALUE: "test2"})
+    )
+
+    assert text.state == "test2"
+
+
+async def test_text_value_outside_bounds(hass):
+    """Test text entity with value that is outside min and max."""
+    with pytest.raises(ValueError):
+        MockTextEntity(
+            "hello world", native_min=2, native_max=5, pattern=r"[a-z]"
+        ).state
+    with pytest.raises(ValueError):
+        MockTextEntity(
+            "hello world", native_min=15, native_max=20, pattern=r"[a-z]"
+        ).state
diff --git a/tests/components/text/test_recorder.py b/tests/components/text/test_recorder.py
new file mode 100644
index 00000000000..6ad0df13ffa
--- /dev/null
+++ b/tests/components/text/test_recorder.py
@@ -0,0 +1,41 @@
+"""The tests for text recorder."""
+from __future__ import annotations
+
+from datetime import timedelta
+
+from homeassistant.components import text
+from homeassistant.components.recorder.db_schema import StateAttributes, States
+from homeassistant.components.recorder.util import session_scope
+from homeassistant.components.text import ATTR_MAX, ATTR_MIN, ATTR_MODE, ATTR_PATTERN
+from homeassistant.const import ATTR_FRIENDLY_NAME
+from homeassistant.core import State
+from homeassistant.setup import async_setup_component
+from homeassistant.util import dt as dt_util
+
+from tests.common import async_fire_time_changed
+from tests.components.recorder.common import async_wait_recording_done
+
+
+async def test_exclude_attributes(recorder_mock, hass):
+    """Test siren registered attributes to be excluded."""
+    await async_setup_component(hass, text.DOMAIN, {text.DOMAIN: {"platform": "demo"}})
+    await hass.async_block_till_done()
+    async_fire_time_changed(hass, dt_util.utcnow() + timedelta(minutes=5))
+    await hass.async_block_till_done()
+    await async_wait_recording_done(hass)
+
+    def _fetch_states() -> list[State]:
+        with session_scope(hass=hass) as session:
+            native_states = []
+            for db_state, db_state_attributes in session.query(States, StateAttributes):
+                state = db_state.to_native()
+                state.attributes = db_state_attributes.to_native()
+                native_states.append(state)
+            return native_states
+
+    states: list[State] = await hass.async_add_executor_job(_fetch_states)
+    assert len(states) > 1
+    for state in states:
+        for attr in (ATTR_MAX, ATTR_MIN, ATTR_MODE, ATTR_PATTERN):
+            assert attr not in state.attributes
+        assert ATTR_FRIENDLY_NAME in state.attributes