As said here:
A service worker is a script that your browser runs in the background, separate from a web page, opening the door to features that don't need a web page or user interaction. Today, they already include features like push notifications and background sync.
In simpler language, Service Worker is what goes on in the background of the sites you run.
It's cache stores scripts and variables and other data that helps a site load faster. Also, it stores cookies. So, it is, usually, of significant size.
However, there exists a Bug in google chrome that makes it report the real cache size much larger than it actually is. Reference 1 and Reference 2