Icons by Material Design are available to download in multiple file types (EPS, SVG, PNG, JPG). Main difference between JPG, PNG (raster graphics) and SVG, EPS (vector graphics) is their resolution. Raster graphics, also known as bitmaps, are built from pixels. They lose image quality when resized. Vector graphics are constructed through lines, curves, and fills. You can resize, rescale, and reshape vectors infinitely without losing any image quality. To open vector icon you need a vector editor software such as Adobe Illustrator (AI), or CorelDRAW (CDR).
