Peer review impacts the quality of software development by providing an opportunity for developers to receive constructive feedback on their work. It encourages collaboration and knowledge sharing, ensuring that code is examined for errors, adherence to standards, and overall design quality. Through systematic evaluations, peer review helps identify potential issues early in the development process, reducing bugs and enhancing software reliability. This practice fosters a culture of continuous improvement and accountability within the development team, ultimately leading to higher-quality software products.