Temporary table

This can improve processing speed but consume disk space.

Table variable

Table variable that can be used in stored procedures, functions and batches.

Table variable get destroyed at the end of the stored procedure, function or batch in which it is defined.

Since it can be used in stored procedure, it is compiled once and can be used many times.

You can't create index on the Table variable.

Since you can create index on the temporary table, it is good where data is huge.