Explain the terms Latent space representation?

Ans: Latent Space Representation is the compressed representation of an Image. In Auto Encoders, the Image is compressed and represented in the form of Latent Space Representation. Later by using Auto Decoder, one can get extended form of Image from Latent Space Representation. In Auto Encoding, Latent Space Representation acts as a layer which is in between Input layer and Output layer.

Latent space representation (i2tutorials)