Image file formats are standardized means of organizing and storing digital images. Image files are composed of digital data in one of these formats that can be rasterized for use on a computer display or printer. An image file format may store data in uncompressed, compressed, or vector formats. Once rasterized, an image becomes a grid of pixels, each of which has a number of bits to designate its color equal to the color depth of the device displaying it.
Choosing the right file format to save your images in is of vital importance. There are three image formats in constant use on the net — GIF, JPG and PNG. Each is suited to a specific type of image, and matching your image to the correct format should result in a small, fast-loading graphic. Saving and exporting into these formats will require a decent image editor.
When choosing the format for your image, you should always be conscious of both the image’s quality and filesize.
Here’s an Infographic, that helps to understand more about Image File Types and helps you choose when to use JPEG, GIF & PNG, with major differences of JPEG, PNG and GIF Image formats and there compression types.
The graphic comes from Who Is Hosting This and is meant to help us choose the right file type when saving an image. JPEG’s ability to reduce file size up to 15% without losing quality makes it useful for web pages (faster uploads and less storage space usage)—especially for colorful photos. GIF files alows for transparency and animation; they’re best for simple images with few colors. PNG is great for logos and might be more attractive than JPEG and GIF, depending on if file size is an issue or not.