You are presented with multiple paper abstracts, alongside the associated literature review and chapter titles. Given the provided information, you are going to do a literature review. Please generate a coherent literature review that synthesizes the content, draws connections between different works, highlights major findings, and identifies any gaps in the existing research.

Literature Review Title: Wavelet Based Image Coding Schemes : A Recent Survey 
Chapter Title:  WAVELETS FOR IMAGE COMPRESSION 
1. Abstract of Cited Paper (BIB001):  Data compression is one of the most important fields and tools in modern computing. From archiving data, to CD ROMs, and from coding theory to image analysis, many facets of modern computing rely upon data compression. Data Compression provides a comprehensive reference for the many different types and methods of compression. Included are a detailed and helpful taxonomy, analysis of most common methods, and discussions on the use and comparative benefits of methods and description of "how to" use them. The presentation is organized into the main branches of the field of data compression: run length encoding, statistical methods, dictionary-based methods, image compression, audio compression, and video compression. Detailed descriptions and explanations of the most well-known and frequently used compression methods are covered in a self-contained fashion, with an accessible style and technical level for specialists and nonspecialists. Topics and features: coverage of video compression, including MPEG-1 and H.261 thorough coverage of wavelets methods, including CWT, DWT, EZW and the new Lifting Scheme technique complete audio compression QM coder used in JPEG and JBIG, including new JPEG 200 standard image transformations and detailed coverage of discrete cosine transform and Haar transform coverage of EIDAC method for compressing simple images prefix image compression ACB and FHM curve compression geometric compression and edgebreaker technique.Data Compression provides an invaluable reference and guide for all computer scientists, computer engineers, electrical engineers, signal/image processing engineers and other scientists needing a comprehensive compilation for a broad range of compression methods.

Literature Review:
Among a variety of new and powerful algorithms that have been developed for image compression over the years, the wavelet-based image compression has gained much popularity due to their overlapping nature which reduces the blocking artifacts and multiresolution character, leading to superior energy compaction with high quality reconstructed images. Wavelet-based coding  provides substantial improvements in picture quality at higher compression ratios. Furthermore, at higher compression ratios, wavelet coding methods degrade much more gracefully than the block-DCT methods. Since the wavelet basis consists of functions both with short support and long support for high frequencies and for low frequencies respectively, smooth areas of the image may be represented with very few bits, and detail can be added where ever required  . Their superior energy compaction properties and correspondence with the human visual system have made, wavelet compression methods produce subjective results BIB002 . Due to the many advantages, wavelet based compression algorithms have paved way for the for the new JPEG-2000 standard BIB001 .