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This paper presents a complete analysis of wavelet-based image compression encoding techniques. The techniques involved in this paper are embedded zerotree wavelet (EZW), set partitioning in hierarchical trees (SPIHT), wavelet difference reduction (WDR), adaptively scanned wavelet difference reduction (ASWDR), set partitioned embedded block coder (SPECK), compression with reversible embedded wavelet (CREW) and spatial orientation tree wavelet (STW). Experiments are done by varying level of the decomposition, bits per pixel and compression ratio. The evaluation is done by taking parameters like peak signal to noise ratio (PSNR), mean square error (MSE), image quality index (IQI) and structural similarity index (SSIM), average difference (AD), normalized cross-correlation (NK), structural content (SC), maximum difference (MD), Laplacian mean squared error (LMSE) and normalized absolute error (NAE).