High-speed forming processes such as electromagnetic forming (EMF) and electrohydraulic forming (EHF) have a high potential for producing lightweight components with complex geometries, but the forming zone is usually limited to a small size for equipment-related reasons. Incremental strategies overcome this limit by using a sequence of local deformations to form larger component areas gradually. Hence, the technological potential of high-speed forming can be exploited for large-area components too. The target-oriented process design of such incremental forming operations requires a deep understanding of the underlying electromagnetic and electrohydraulic forming processes. This article therefore analyzes and compares the influence of fundamental process parameters on the acting loads, the resulting course of deformation, and the forming result for both technologies via experimental and numerical investigations. Specifically, it is shown that for the EHF process considered, the electrode distance and the discharge energy have a significant influence on the resulting forming depth. In the EHF process, the largest forming depth is achieved directly below the electrodes, while the pressure distribution in the EMF depends on the fieldshaper used. The energy requirement for the EHF process is comparatively low, while significantly higher forming speeds are achieved with the EMF process.