What are the existing image formats?

Raster:

• JPEG: Good for photographs, supports lossy compression, not suitable for text or graphics with sharp boundaries.
• PNG: Supports transparency, lossless compression, suitable for logos, icons, images with text.
• GIF: Animated format, limited color support, used for simple animations.
• WebP: Modern format from Google, offers better compression for raster images, supports transparency and animation.

Vector:

• SVG: Scales without loss of quality, based on XML, ideal for logos, icons, charts.
• AI, EPS, CDR: Proprietary formats used in vector graphics programs (Illustrator, CorelDRAW).

Specialized:

• AVIF: New format based on the AV1 codec, promises high compression.
• BPG: Format based on the HEVC codec, an alternative to JPEG.

The choice of format depends on the purpose of the image. For photographs — JPEG, for icons with transparency — PNG or SVG, for animation — GIF or WebP. WebP and AVIF are considered future standards.