Image compression, an application of data compression, widely use in advance multimedia, communication and graphical systems is used to minimize storage requirements and transmission cost. It increases transmission rate by decreasing redundancy of image data in either lossy or lossless compression means. In this research work, comparison of compression techniques is done using Compression Ratio (CR) and Bit-Per-Pixel (BPP) ratio as performance parameters. Image compression by Huffman encoding, Embedded Zero tree Wavelet (EZW) and Set Partitioning in Hierarchical Trees (SPINT) technique is performed. The result showed that lossy techniques are reliable to save hardware memory consumption but having low CR ratio. In lossless techniques, CR ratio is higher and it uses more space to store compressed image. Proposed comparison between lossy and lossless techniques is supportive in choosing an optimal technique for image compression and facilitates the process of an efficient compression.