What is the significance of the "Maximum execution time exceeded" error in PHP?

The "Maximum execution time exceeded" error in PHP occurs when a script takes longer to execute than the set maximum time limit. This can happen due to inefficient code, infinite loops, or processing large amounts of data. To solve this issue, you can increase the maximum execution time limit in the php.ini file or optimize your code to improve performance.

// Increase maximum execution time limit to 60 seconds
ini_set('max_execution_time', 60);