JPEG 2000 Explained
JPEG 2000 is the official successor to JPEG. The still picture standard developed by the Joint Photographic Expert Group inherits newest compression developments. The file format offers several improvements to enable its use in even more applications.
The JPEG 2000 still image format offers several improvements. The image quality is superior at the same compression rate. The discrete wavelet transformation is the main technological reason for the high performance of the standard. The JPEG 2000 container also offers good error resilience, selective decompression, lossless compression.
This explained in detail in my JPEG 2000 seminar paper at the Ulm University. The presentation slides are also provided.
I also recommend to take a look at quality comparison by example and a publication by A. Skodras et al.: “The JPEG 2000 Still Image Compression Standard”.