Performance comparison of JPEG, JPEG2000 & JPEG XR image compression standards

In this study, the performances of JPEG (the most widely used lossy image compression standard until it was published in 1992), JPEG2000 (designed to provide superior image quality at low bit rates) and JPEG XR (aimed to reach the speed of JPEG and the quality of JPEG2000) are evaluated with an application developed in C# language which is able to use different codecs. The results show that recently developed JPEG standard (JPEG XR) is able to compress images with the same quality as JPEG2000, but not the same speed as JPEG.