The significance of load testing in web applications lies in its ability to assess how well an application performs under varying levels of user demand. Load testing simulates multiple users accessing a system simultaneously to determine its breaking point, ensuring that it can handle expected traffic without performance degradation. This process helps identify potential bottlenecks, server limitations, and infrastructure weaknesses. Conducting load testing is crucial for ensuring reliability, scalability, and a positive user experience, particularly for applications with high traffic volumes.