The significance of source control in software projects is immense, as it enables developers to track changes and collaborate efficiently. Source control systems, such as Git, manage code revisions, allowing multiple team members to work on a project simultaneously without overwriting each other's contributions. This process enhances team coordination and minimizes conflicts when merging changes. Furthermore, source control provides a history of modifications, which assists in debugging and understanding project evolution. Ultimately, source control fosters better collaboration, increases code quality, and ensures smoother project management in software development.