JPG is a raster file. They are typically used for onscreen purposes such as on websites or within email messages; this is because they are small. They are not ideal printing and cannot be re sized or edited too often without significant loss of image quality. They are the most common file type. The more compressed, the smaller the file size will be, but the poorer the image quality will be. It supports 8 bits per color for a 24-bit total, making quite small files.
Jpg Image
Gif
Gif is a raster file. These are used in the same way as JPG files but are compressed even more, making them ideal for graphics with solid colour. Good for drawings/line art, Not so good for photo's. Pretty good image sizes. Gif is limited to an 8 bit pallete.
Giff image
PNG
PNG is a raster file. The png format is best suited for editing pictures. Loss less compression - images keep their quality. Transparency. Larger file sizes. Doesn't store any additional information. Png supports 16 million colours, which is a massive amount, especially compared to GIF which supports only 256 colours.
Png Image
PSD
PSD is a raster file. Loss less compression, very high quality. Large file sizes, stores lots of information with the image file such as: Layers, masks and transparency. The PSD is photoshops normal format, stores an image with support for most imaging options available in photoshop.
PSD image
Tiff
Tiff is a raster file. Tagged image file, large file sizes and high quality.the TIFF format is widely supported by image-manipulation applications, by publishing and page layout applications, by scanning, faxing, word processing, optical character recognition and other applications. The TIFF format is flexible and normally saves 8 bits or 16 bits per colour for 24-bit 48-bit totals.
BMP
Bmp is a raster file. used to store bitmap digital images, independently of the display device. Bmp is short for Bitmap. High quality. Doesn't use any compression at all, so big files! Only really used by microsoft/paint.
BMP image
AI
AI is a vector file. one of the most widely used graphic design programs in the world. Usually a file with the tag AI is an original design file, meaning that this is the file originally used for developing your logo design.
AI image
ESP
ESP is a vector file. It can contain both vector and bitmap data. Post Script is the universal language used by computer printers as well as professional printers. If the file contains only vectors it can easily be reduced or enlarged without loss of resolution.
ESP image
Raster files
A raster graphics image is a data structure representing an in general rectangul grid of pixels, or points of colour, viewable by a monitor, paper, or other display device. Rasters are best used on photographs.
Vector files
Vector graphics is the use of geometrical primitives such as points, lines, curves, and shapes or polygon(s), which are all based on mathematical equations, to represent images in computer graphics.
