What part of speech is significance?

Answer 1

The word 'significance' is a noun. For example:

'The significance of this message is quite clear: its meaning is obvious.'

'What do you believe is the significance of this religious symbol? Do you know what it means?'

'The significance of the word 'essence' in a sentence depends on the context: you might speak of the essence of a subject, the central meaning, or of a floral essence, the essential oil derived from a flower.'

To 'signify' is a verb:

What does this message signify?'

The root is the word 'sign': an indication of something not necessarily tangible, not visible, or to communicate by sign, that is, non-verbally.

Answer 2

"Significance" can function as a noun.