Colour Spaces
Below are only descriptions of main colour spaces. More detailed information you can find on reference links.
Further I plan to add some interesting information about convertation between colour spaces.
HSV

The one of the most common cylindrical-coordinate representations of points in an RGB color model. Value is the maximal value of channels.
HSL

The second of the most common cylindrical-coordinate representations of points in an RGB color model. Lightness is the average of the largest and smallest color components.
YUV

The color model contains one luma (Y) and two chrominance components. The model allows to change color components presderving luminance. Here is realised standard BT.709.
XYZ

In the XYZ color space, Y corresponds to relative luminance; Y also carries color information related to the eye's "M" (yellow-green) cone response. X and Z carry additional information about how the cones in the human eye respond to light waves of varying frequencies.
RGB

It is often used as the "default" color space for images that do not contain any color space information, especially if the images are stored as 8-bit integers.