For example - I have this component that forms a table on a page (Values displayed are generated depending upon selection in dialog), so now I want to put this component in a content fragment and store it as an asset, so that same component/content fragment can be used on multiple pages to form different table values. Is this possible in AEM 6.3 or even through codes ?
Yeah, It is more or less similar to infinity selector but not the same , if you are planning to expose content as a service, better to you model selector.
you can't save experience fragments(XF) as a assets but you can use XF inside any page like CF.