In this paper we are presenting a three-stage near lossless image compression scheme. It belongs to the class of lossless coding which consists of wavelet based decomposition followed by modified duplicate free run-length coding. We go for the selection of optimum bit rate to guarantee minimum MSE (mean square error), high PSNR (peak signal to noise ratio) and also ensure that time required for computation is very less unlike other compression schemes. Hence we propose ‘A wavelet based novel approach for near lossless image compression’. Which is very much useful for real time applications and is also compared with EZW, SPIHT, SOFM and the proposed method is out performed.
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