Which file format is a lossy compression format?

The JPEG file format is indeed a lossy compression format, which means that it reduces file size by permanently eliminating certain information, particularly in high-frequency areas of the image. This is done to achieve smaller file sizes, making it suitable for photographs and images where a slight loss of quality is acceptable for the benefits of reduced storage space and faster loading times. In practical terms, JPEG is often used for web images, digital photography, and any application where smaller file sizes are crucial while still maintaining reasonable image quality.

In contrast, formats like PNG and TIF offer lossless compression, preserving all original data without any loss in quality. GIF is also a lossless format but is primarily used for images with limited color palettes and simple graphics like animations.