JPEG 2000 is sure to be the next standard for image compression. It offers numerous benefits over current compression methods, including the ability to do both lossless and lossy compression, the ability to obtain higher image quality and higher compression ratios, and the ability to view the same file at multiple resolutions. It also allows one area of the image to be examined more closely using its region of interest capability.JPEG 2000 uses wavelet technology to compress images, and this result in images being compressed more efficiently and with less introduced error than previous methods. Currently, JPEG 2000 uses one wavelet for lossy compression and another wavelet for lossless compression, but in the future other wavelets may be used as the need arises. There are many applications where JPEG 2000 can be used, including the Internet, medical imaging, and digital photography. Overall, JPEG 2000 is a huge upgrade over current compression methods and looks to be the next image compression standard in the near future



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