This document provides an overview of common image compression techniques. It discusses why images are compressed, how compression reduces redundancy in images, and the general flow of image compression systems. It describes lossy compression methods like discrete cosine transform and discrete wavelet transform that reduce pixel correlation. Lossless compression techniques including quantization, Huffman coding, arithmetic coding and run length coding are also covered. Popular image compression algorithms like JPEG, JPEG 2000 and shape-adaptive compression are briefly outlined.