Image/Video compression is an area of research that has received considerable attention over the last few decades. Image and video data compression refers to a process in which the amount of data used to represent image and video is reduced to meet a bit rate requirement (below or at the most equal to the maximum available bit rate), while the quality of the reconstructed image or video satisfies a requirement for a certain application and complexity of computation involved is affordable for application. Image and video data compression has been found to be necessary in these important...