I’m currently developing a web application using React and I’m looking for the best practices for managing state effectively. I’ve come across several methods such as using the Context API, Redux, and even React’s built-in useState and useReducer hooks, but I’m not sure which approach is most suitable for my application.

Here are some details about my application:

It’s a medium-sized project with several components that need to share state.
Performance is a concern, especially with frequent state updates.
I need a solution that scales well as the project grows.
Ease of debugging and maintainability are important factors.
I’ve done some research and found that Redux is widely used, but it seems a bit complex for my current needs. The Context API seems simpler, but I’m worried about performance issues with frequent re-renders.

Could anyone provide insights or recommendations on the best state management practices in React based on the given requirements? If you have experience with different approaches, please share your pros and cons.