Koninklijke Bibliotheek has published Alternative File Formats for Storing Master Images of Digitisation Projects.
Here's an excerpt from the "Management Summary":
The main conclusions of this study are as follows:
Reason 1: Substitution
JPEG 2000 lossless and PNG are the best alternatives for the uncompressed TIFF file format from the perspective of long-term sustainability. When the storage savings (PNG 40%, JPEG 2000 lossless 53%) and the functionality are factored in, the scale tips in favour of JPEG 2000 lossless.
Reason 2: Redigitisation Is Not Desirable
JPEG 2000 and JPEG are the best alternatives for the uncompressed TIFF file format. If no image information may be lost, then JPEG 2000 lossless and PNG are the two recommended options.
Reason 3: Master File is the Access File
JPEG 2000 lossy and JPEG with greater compression are the most suitable formats.
