There are various options for Raster image formats, but none for Vector.
Not saying that it's easy to add a vector format, even though there are Pros and Cons for LL and Users in trying to do so.
Pros -
1: Small file size.
2: Has transparency.
3: Smoother curves that won't be pixelated.
4: Making the image smaller or larger won't change the quality.
5: There are free programs that allow Users to save in vector formats.
6: Could be used for specific BOM textures like tattoos as an example.
Cons -
1: Might be hard for LL to implement.
2: Users limited on how to apply colors with "shapes", "lines", "curves", and "gradients".
3: Because of the limit mentioned on #2, mileage can vary on the detail you want.
4: Having to pick only one of the vector formats, SVG specifically atm.
5: "Appears" to be limited data on how to implement this appropriately.
So the big question would be, is it possible? The answer is technically yes. As you'll see from evidence below and of what you'll need to read or setup.
Demo Video of SVG Texture on a Sphere : https://www.youtube.com/watch?v=jXFp3wPLUPs
Source Download - get the first 3 zip/tar files for OS versions, source and library files. : https://code.google.com/archive/p/vectex/downloads
Expansion of the Plugin to include other SVG 1.1 features. Best to use Blender 2.46 - 2.49 : https://airplanes3d.net/scripts-svgtex1_e.xml
If you do happen to download the stuff to replicate what you see in the video, make sure the vectex .so and tiger.svg files are in the main blender folder. Though I recommend that you get the zip Blender version so that you don't have to install.
If you want to see the tiger on the sphere, either go to the "Material Buttons" and select the 6th preview option. Otherwise select "Render" up top and "Render Animation".
The source is there for both the VecTex and SvgTex, though the VecTex source is in the Vectex-0.9-fix-tar download file, otherwise it's compiled in the other two downloads as .so files, in other words library files.
At least this would be a starting point for LL in doing a version of their own to apply SVG textures to mesh in world and if it'll have a positive or negative affect when rendering.