I. Introduction
The volume of data produced over the last few years has increased dramatically. New types of data, including as genomic [1], 3D VR, and point cloud data, are being produced at a rapid rate alongside picture and text data. Data production each year is increasing more quickly than ever before. Every person will produce 17 megabytes of information every second by the end of this year. There will be a greater need for storage as a result of the rapid development of digitalization, which also adds to the rapid accumulation of data. This means an increase in storage costs. The proliferation of multimedia files is evident from reports such as Cisco’s analysis of internet traffic, which predicts a staggering 2.75-fold increase in global traffic between 2016 and 2021 [2]. This exponential growth in data volume necessitates effective solutions to address the impact on download speeds, infrastructure costs, and end-user prices. Image compression plays a pivotal role in mitigating these challenges, as even small improvements in compression techniques can yield substantial benefits in terms of faster downloads, reduced infrastructure expenses, and more affordable services for end-users. Therefore, data compression stands as a critical solution to navigate the ever-expanding landscape of multimedia data.