This configures the storage type of the global/inter-process SSL Session Cache. This cache is an optional facility which speeds up parallel request processing. For requests to the same server process (via HTTP keep-alive), OpenSSL already caches the SSL session information locally. But because modern clients request inlined images and other data via parallel requests (usually up to four parallel requests are common) those requests are served by different pre-forked server processes. Here an inter-process cache helps to avoid unnecessary session handshakes.
Ex.: SSLSessionCache shm:/usr/local/apache/logs/sslgcachedata(32000)
Or via Memcached (but this requires Apache v2.4) :