Update()
- Called Once Per frame.
- If the game is running at 24 FPS (Frame per Seconds) the it will be called 24 time in Seconds.
- It is mostly used for moving non-physics objects, receiving inputs and simple timer etc.
FixedUpdate()
- This will called after fixed time duration.
- It is used for performing Physics related task like applying a force on rigidbody.
LateUpdate()
- It is called when all update functions have been called.
- It is mostly used for follow camera.