This document analyzes the HSV (Hue, Saturation, Value) color space for use in image retrieval applications like segmentation and histogram generation. It discusses how HSV separates luminance from chrominance better than RGB. It proposes using the Saturation value to determine if Hue or Intensity better represents a pixel's color. Pixels are clustered using K-means clustering based on these features for segmentation. A novel histogram is also generated from the features to improve content-based image retrieval results over standard RGB histograms. Experimental results demonstrate the HSV-based approaches perform better for segmentation and retrieval.