Color Space defines the number of colors available for a pixel. In sRGB Color Space, at 8 bits/rgb channel each pixel records 256 shades of any color. It’s Color Depth (tone value) range is from 0,0,0 (black) to 255, 255, 255 (white). This produces about 17 million colors (16. 777, 216). It’s said that the human eye can see 10 million colors. Do you need a color space with values outside of the visual range?
A Color Profile calibrates a device to display a color.