What is the word for the quality of being valuable or significant?

The term that embodies the quality of being valuable or significant is "importance." This word specifically conveys the idea of having substantial value, influence, or effect in a given context. It reflects the notion that something is worthy of attention or consideration because of its significance.

While "value" also pertains to worth, it often focuses more on monetary or intrinsic worth rather than the broader scope of significance. "Usefulness" implies a practical aspect of aiding or serving a purpose, but it does not inherently address the qualitative aspect of importance. Meanwhile, "relevance" pertains more to how closely connected or applicable something is to a particular matter or situation rather than its overall significance or value. Therefore, "importance" is the most fitting choice when discussing the quality of being valuable or significant.