A code repository serves as a centralized location where developers can store, manage, and share their source code. It facilitates version control, allowing teams to track changes, collaborate, and maintain code integrity across various projects. Repositories, such as GitHub and GitLab, support branching and merging, enabling developers to experiment with features without impacting the main codebase. These platforms often include tools for issue tracking and project management, promoting effective team collaboration and improving software development processes. Code repositories are essential for fostering a collaborative coding environment.