HTTP/2 is significant compared to HTTP/1.1 due to its enhanced performance features such as multiplexing, which allows multiple requests and responses to be sent simultaneously over a single connection. This reduces latency and improves loading times for users. HTTP/2 also employs header compression to minimize overhead and supports server push, where resources can be sent proactively before the client requests them. Such advancements contribute to a more efficient transfer of data and improve the overall user experience on the web.