SVG, a vector graphics format based on XML, has become widely supported since 2016, with many icon libraries and brands like YouTube and Netflix utilizing it for scalable and high-quality images. In React applications, SVGs can be implemented using various methods such as inline SVGs, the `<img>` tag, SVGR for React component conversion, or as data URLs, each offering different benefits and limitations in terms of styling, animation, and code maintainability. Tools like SVGR can transform SVGs into React components by optimizing and converting them to JSX, while frameworks like Next.js and Gatsby support SVG integration as components. SVGs, known for their scalability, small file size, and high performance, can be animated and easily styled, making them a versatile choice over raster formats like JPEG or PNG, though large or complex SVGs might impact performance. Additionally, while SVGs enhance accessibility and SEO due to their text-based nature, developers need to consider browser compatibility and file size optimization when using SVGs in React projects.