When comparing Raphael vs Highcharts, the Slant community recommends Raphael for most people. In the question“What are the best JavaScript drawing libraries?” Raphael is ranked 5th while Highcharts is ranked 18th. The most important reason people chose Raphael is:
Because Raphael supports rendering VML + SVG, it is one of the few drawing libraries that is backwards compatible with older browsers that do not support canvas.
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Pros
Pro Works with older browsers
Because Raphael supports rendering VML + SVG, it is one of the few drawing libraries that is backwards compatible with older browsers that do not support canvas.
Pro Built in animations
Several built-in animations (such as ways of easing) are provided for you out of the box, but Raphael also allows cubic beziers for more complicated easing functions. Any drawing object property can be modified making it similar to css animations in jQuery.
Pro Every object is interactive with events
Everything that is drawn in Raphael is an object which means it is easy to manipulate any part of the rendered image after it is processed. It uses an event handler system for user inputs which makes it easy to learn for JavaScript developers used to event based libraries.
This style of handling objects makes Raphael a good fit for rendering interactive diagrams and charts that can also interact with other parts of the page.
Pro Easy creation of charts with extension
gRaphael is a Raphael extension to help you easily create graphs and charts.
Pro Good documentation
Very handy with examples and explanations.
Pro Excellent browser support
Highcharts supports all modern browsers (including IE6 and up), iOS and Android.
Pro Large and active community
Highcharts has a large and supportive community, resulting in a fast response from both stack overflow and the Highcharts forum.
Pro Lots of good examples
The site has a selection of good examples that will help you get started quickly.
Pro Supports multiple Y axes
Important for trend correlation, eg. comparing number of clicks to sale amounts. Not same scales / units.
Pro Library to support Microsoft .NET
Compatable with .NET framework 4+, can develop graphs from server side for ASP .NETand ASP .NET MVC applications.
Cons
Con Complicated, confusing documentation
The documentation is often not clear and lacks practical examples.
Con Can be difficult to get support
Online communities for Raphael are small and inactive compared to other drawing libraries, and many issues opened on github are never addressed.
Con Commercial
Highcharts is not free for commercial projects, with a starting price of US$590 for Single Developer + Maintenance & Support
Con The examples are not that great
For instance, example's JsFiddle may get stalled when loading.