The significance of using agile methodologies in software development lies in its focus on flexibility, collaboration, and iterative progress. Agile promotes adaptability, allowing teams to respond quickly to changing requirements and customer feedback. By dividing projects into smaller increments, teams can deliver functional software regularly, improving stakeholder involvement throughout the process. This approach enhances communication and fosters a culture of continuous improvement among team members. Overall, agile methodologies help reduce the risks associated with software projects and increase the likelihood of delivering high-quality products that meet user needs effectively.