If you're using Photoshop then you might also have access to other Adobe products, Flash has been able to do this for more then a dacade and depending on the co

If you're using Photoshop then you might also have access to other Adobe products, Flash has been able to do this for more then a dacade and depending on the complexity of the bitmap (photos obviously don't work that well), it had good results for me in the past. Since the output is a vector, often its quite easy to tweak the end result as well.