Vectors
Description
Vectors are mathematical curves and points on a coordinate system — cartesian plane —, which are connected to form polygons and other shapes. As everything is easily calculateable we can scale vector graphics lossless to infinity. They are most commonly used for infographics, logos and icons. The file format is SVG, in fact, there are not really any competitors. If you want to use vectors in web, use SVG.
SVG
Scalable Vector Graphics
Based on XML, SVG is an easy way to describe vectors.