What Are the Pros & Cons of Using SVG for Web Graphics?

Q: SVGs (Scalable Vector Graphics) are becoming a popular choice for web graphics. What are the main pros & cons of using them today when designing web graphics?

Are they now a better choice to design with? Are there still security concerns? Are there any new contenders that do a better job? Do new processors and GPU render them better without performance issues?

Note: I have done the usual Google searches and use SVGs myself. The purpose of this question is to find better and more up-to-date answers than Google provided, to have real-time and dynamic feedback from answers and to see if I can find those amazing facts I just never knew, which is often the case from the amazing and knowledgable people on here.

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  • This is a similar question, it has similar Google results and it received a good amount of upvotes. No one seems to have an issue with these types of questions. If a community rule has been breached, then references here so I can understand where you are coming from. graphicdesign.stackexchange.com/questions/107311/… – Invariant Change Sep 2 '18 at 11:28
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    @Joonas thats all fine but this question does not belong on GD. Its not a question of graphic design – joojaa Sep 2 '18 at 11:36
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    @joojaa it is definitely riding the line. I'd happily accept it, but I know a lot of guys are picky about that. This question is web design or even just coding, which is not something all graphic designers do... but then again a lot of web design questions are allowed here. Why not this one? – Joonas Sep 2 '18 at 11:41
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    @Daniellilo It looks about the same to me :P – Zach Saucier Sep 2 '18 at 12:11
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    That being said, this question can clearly split into several questions that have distinct answers without significant overlap. I therefore close as too broad. Some of these subquestions are better suited for other sites, e.g., security issues are nothing falling into the expertise of designers, but are better suited for Information Security. – Wrzlprmft Sep 2 '18 at 21:58