The explosive generation of data in the digital era directs to the requirements of effective approaches to transmit and store the data. The necessities of security and limited resources have led to the development of image encryption and compression approaches, respectively. The digital contents are transmitted over the internet which may subject to security threats. To overcome these limitations, image encryption approaches are developed. The image compression approaches result in the efficient usage of available transmission bandwidth and storage area. Image encryption and compression approach play an important role in the multimedia application that authenticates and secures the digital information. This paper covers the various approaches of image encryption and compression. To validate the performance of the approaches, evaluation metrics are projected and its significance is also discussed.