Let's have a quick look in SVG means Scalable Vector Graphics.Generally it is used for the web purpose like images, animated images, vector etc. SVG is similar to Canvas but both has minor differences.
In latest designing and development related stuffs people are moving to SVG instead of jpeg and png or gif. With use of svg images the site can be faster and more beautiful instead of using jpeg and pngs. There are many reasons why people are moving to SVGs.
It is help to developers to use the same image multiple times with different height width and every time we can see the same results for all. It also helps to load the page quickly.
SVG is not preferable for the gaming graphics design while canvas is more suitable for the gaming graphics. So there is minus point for SVG in that area, but overall SVGs are very important and usable thing for web development and online related stuffs.