Fractal compression is the lossy compression technique in the field of gray/color image and video compression. It gives high compression ratio, better image quality with fast decoding time but improvement in encoding time is a challenge. This review paper/article presents the analysis of most significant existing approaches in the field of fractal based gray/color images and video compression, different block matching motion estimation approaches for finding out the motion vectors in a frame based on inter-frame coding and intra-frame coding i.e. individual frame coding and automata theory based coding approaches to represent an image/sequence of images. Though different review papers exist related to fractal coding, this paper is different...