Systems and methods are provided for reducing data size of at least one bitmap image using a look-up table, wherein the look-up table stores information correlating a plurality of compression ratios to a set of compression parameters and wherein the bitmap image comprises a plurality of image components, each image component associated with a distinct color plane. The plurality of color planes may be ranked using a dominance rank, wherein the dominance rank for a color plane is based on image component data associated with the color plane. At least one compression ratio may be associated with each color plane based on the dominance rank associated with the color plane. At least one image component may be compressed according to the compression ratio associated with the color plane corresponding to the image component using compression parameters obtained from the look-up table. The compression ratio may be iteratively adjusted, until the total data size of the plurality of image components is below a data size threshold.