diff --git a/Code/Framework/AzCore/AzCore/std/function/function_base.h b/Code/Framework/AzCore/AzCore/std/function/function_base.h
index 32892a4c03..b39a5cf81b 100644
--- a/Code/Framework/AzCore/AzCore/std/function/function_base.h
+++ b/Code/Framework/AzCore/AzCore/std/function/function_base.h
@@ -10,6 +10,7 @@
 #ifndef AZSTD_FUNCTION_BASE_HEADER
 #define AZSTD_FUNCTION_BASE_HEADER
 
+#include <AzCore/std/allocator.h>
 #include <AzCore/std/base.h>
 #include <AzCore/std/utils.h>
 #include <AzCore/std/function/function_fwd.h>
diff --git a/Gems/Atom/Asset/ImageProcessingAtom/Code/CMakeLists.txt b/Gems/Atom/Asset/ImageProcessingAtom/Code/CMakeLists.txt
index 233ead9dea..6227d74d7e 100644
--- a/Gems/Atom/Asset/ImageProcessingAtom/Code/CMakeLists.txt
+++ b/Gems/Atom/Asset/ImageProcessingAtom/Code/CMakeLists.txt
@@ -66,6 +66,7 @@ ly_add_target(
             3rdParty::PVRTexTool
             3rdParty::squish-ccr
             3rdParty::tiff
+            3rdParty::ISPCTexComp
             3rdParty::ilmbase
             Legacy::CryCommon
             AZ::AzFramework
diff --git a/Gems/Atom/Asset/ImageProcessingAtom/Code/Include/Atom/ImageProcessing/ImageObject.h b/Gems/Atom/Asset/ImageProcessingAtom/Code/Include/Atom/ImageProcessing/ImageObject.h
index 561dee5880..5796a0c84d 100644
--- a/Gems/Atom/Asset/ImageProcessingAtom/Code/Include/Atom/ImageProcessing/ImageObject.h
+++ b/Gems/Atom/Asset/ImageProcessingAtom/Code/Include/Atom/ImageProcessing/ImageObject.h
@@ -70,7 +70,6 @@ namespace ImageProcessingAtom
         virtual AZ::u32 GetPixelCount(AZ::u32 mip) const = 0;
         virtual AZ::u32 GetWidth(AZ::u32 mip) const = 0;
         virtual AZ::u32 GetHeight(AZ::u32 mip) const = 0;
-        virtual bool IsCubemap() const = 0;
         virtual AZ::u32 GetMipCount() const = 0;
 
         //get pixel data buffer
diff --git a/Gems/Atom/Asset/ImageProcessingAtom/Code/Source/Compressors/CTSquisher.cpp b/Gems/Atom/Asset/ImageProcessingAtom/Code/Source/Compressors/CTSquisher.cpp
index bfe5e283b5..709bce4c54 100644
--- a/Gems/Atom/Asset/ImageProcessingAtom/Code/Source/Compressors/CTSquisher.cpp
+++ b/Gems/Atom/Asset/ImageProcessingAtom/Code/Source/Compressors/CTSquisher.cpp
@@ -141,6 +141,11 @@ namespace ImageProcessingAtom
     ColorSpace CTSquisher::GetSupportedColorSpace([[maybe_unused]] EPixelFormat compressFormat) const
     {
         return ColorSpace::autoSelect;
+    }    
+        
+    const char* CTSquisher::GetName() const
+    {
+        return "CTSquisher";
     }
 
     EPixelFormat CTSquisher::GetSuggestedUncompressedFormat(EPixelFormat compressedfmt, EPixelFormat uncompressedfmt) const
diff --git a/Gems/Atom/Asset/ImageProcessingAtom/Code/Source/Compressors/CTSquisher.h b/Gems/Atom/Asset/ImageProcessingAtom/Code/Source/Compressors/CTSquisher.h
index 77865a596e..1e4aaf3f31 100644
--- a/Gems/Atom/Asset/ImageProcessingAtom/Code/Source/Compressors/CTSquisher.h
+++ b/Gems/Atom/Asset/ImageProcessingAtom/Code/Source/Compressors/CTSquisher.h
@@ -27,6 +27,7 @@ namespace ImageProcessingAtom
 
         EPixelFormat GetSuggestedUncompressedFormat(EPixelFormat compressedfmt, EPixelFormat uncompressedfmt) const override;
         ColorSpace GetSupportedColorSpace(EPixelFormat compressFormat) const final;
+        const char* GetName() const final;
 
     private:
         static CryTextureSquisher::ECodingPreset GetCompressPreset(EPixelFormat compressFmt, EPixelFormat uncompressFmt);
diff --git a/Gems/Atom/Asset/ImageProcessingAtom/Code/Source/Compressors/Compressor.cpp b/Gems/Atom/Asset/ImageProcessingAtom/Code/Source/Compressors/Compressor.cpp
index 99205edb01..2cd7ff0e9b 100644
--- a/Gems/Atom/Asset/ImageProcessingAtom/Code/Source/Compressors/Compressor.cpp
+++ b/Gems/Atom/Asset/ImageProcessingAtom/Code/Source/Compressors/Compressor.cpp
@@ -10,22 +10,15 @@
 #include <Compressors/CTSquisher.h>
 #include <Compressors/PVRTC.h>
 #include <Compressors/ETC2.h>
-
-// this is required for the AZ_TRAIT_IMAGEPROCESSING_USE_ISPC_TEXTURE_COMPRESSOR define
-#include <ImageProcessing_Traits_Platform.h>
-
-#if AZ_TRAIT_IMAGEPROCESSING_USE_ISPC_TEXTURE_COMPRESSOR
 #include <Compressors/ISPCTextureCompressor.h>
-#endif
 
 namespace ImageProcessingAtom
 {
-    ICompressorPtr ICompressor::FindCompressor(EPixelFormat fmt, ColorSpace colorSpace, bool isCompressing)
+    ICompressorPtr ICompressor::FindCompressor(EPixelFormat fmt, [[maybe_unused]] ColorSpace colorSpace, bool isCompressing)
     {
         // The ISPC texture compressor is able to compress BC1, BC3, BC6H and BC7 formats, and all of the ASTC formats.
         // Note: The ISPC texture compressor is only able to compress images that are a multiple of the compressed format's blocksize.
         // Another limitation is that the compressor requires LDR source images to be in sRGB colorspace.
-#if AZ_TRAIT_IMAGEPROCESSING_USE_ISPC_TEXTURE_COMPRESSOR
         if (ISPCCompressor::IsCompressedPixelFormatSupported(fmt))
         {
             if ((isCompressing && ISPCCompressor::IsSourceColorSpaceSupported(colorSpace, fmt)) || (!isCompressing && ISPCCompressor::DoesSupportDecompress(fmt)))
@@ -33,7 +26,6 @@ namespace ImageProcessingAtom
                 return ICompressorPtr(new ISPCCompressor());
             }
         }
-#endif
 
         if (CTSquisher::IsCompressedPixelFormatSupported(fmt))
         {
diff --git a/Gems/Atom/Asset/ImageProcessingAtom/Code/Source/Compressors/Compressor.h b/Gems/Atom/Asset/ImageProcessingAtom/Code/Source/Compressors/Compressor.h
index 4eb04590a5..dff71e59db 100644
--- a/Gems/Atom/Asset/ImageProcessingAtom/Code/Source/Compressors/Compressor.h
+++ b/Gems/Atom/Asset/ImageProcessingAtom/Code/Source/Compressors/Compressor.h
@@ -48,6 +48,7 @@ namespace ImageProcessingAtom
         virtual IImageObjectPtr DecompressImage(IImageObjectPtr srcImage, EPixelFormat fmtDst) const = 0;
         virtual EPixelFormat GetSuggestedUncompressedFormat(EPixelFormat compressedfmt, EPixelFormat uncompressedfmt) const = 0;
         virtual ColorSpace GetSupportedColorSpace(EPixelFormat compressFormat) const = 0;
+        virtual const char* GetName() const = 0;
 
         //find compressor for specified compressed pixel format. isCompressing to indicate if it's for compressing or decompressing
         static ICompressorPtr FindCompressor(EPixelFormat fmt, ColorSpace colorSpace, bool isCompressing);
diff --git a/Gems/Atom/Asset/ImageProcessingAtom/Code/Source/Compressors/ETC2.cpp b/Gems/Atom/Asset/ImageProcessingAtom/Code/Source/Compressors/ETC2.cpp
index 0c3d6dca3d..73108d5502 100644
--- a/Gems/Atom/Asset/ImageProcessingAtom/Code/Source/Compressors/ETC2.cpp
+++ b/Gems/Atom/Asset/ImageProcessingAtom/Code/Source/Compressors/ETC2.cpp
@@ -111,6 +111,11 @@ namespace ImageProcessingAtom
     {
         return ColorSpace::autoSelect;
     }
+        
+    const char* ETC2Compressor::GetName() const
+    {
+        return "ETC2Compressor";
+    }
 
     IImageObjectPtr ETC2Compressor::CompressImage(IImageObjectPtr srcImage, EPixelFormat fmtDst,
         const CompressOption* compressOption) const
diff --git a/Gems/Atom/Asset/ImageProcessingAtom/Code/Source/Compressors/ETC2.h b/Gems/Atom/Asset/ImageProcessingAtom/Code/Source/Compressors/ETC2.h
index 7e5354a185..9ab5a164a5 100644
--- a/Gems/Atom/Asset/ImageProcessingAtom/Code/Source/Compressors/ETC2.h
+++ b/Gems/Atom/Asset/ImageProcessingAtom/Code/Source/Compressors/ETC2.h
@@ -24,7 +24,8 @@ namespace ImageProcessingAtom
         IImageObjectPtr DecompressImage(IImageObjectPtr srcImage, EPixelFormat fmtDst) const override;
 
         EPixelFormat GetSuggestedUncompressedFormat(EPixelFormat compressedfmt, EPixelFormat uncompressedfmt) const override;
-        virtual ColorSpace GetSupportedColorSpace(EPixelFormat compressFormat) const final;
+        ColorSpace GetSupportedColorSpace(EPixelFormat compressFormat) const final;
+        const char* GetName() const final;
 
     };
 } // namespace ImageProcessingAtom
diff --git a/Gems/Atom/Asset/ImageProcessingAtom/Code/Source/Compressors/ISPCTextureCompressor.cpp b/Gems/Atom/Asset/ImageProcessingAtom/Code/Source/Compressors/ISPCTextureCompressor.cpp
index be6eb9511d..5e96c7274d 100644
--- a/Gems/Atom/Asset/ImageProcessingAtom/Code/Source/Compressors/ISPCTextureCompressor.cpp
+++ b/Gems/Atom/Asset/ImageProcessingAtom/Code/Source/Compressors/ISPCTextureCompressor.cpp
@@ -111,6 +111,11 @@ namespace ImageProcessingAtom
         return ColorSpace::autoSelect;
     }
 
+    const char* ISPCCompressor::GetName() const
+    {
+        return "ISPCCompressor";
+    }
+
     IImageObjectPtr ISPCCompressor::CompressImage(IImageObjectPtr sourceImage, EPixelFormat destinationFormat, const CompressOption* compressOption) const
     {
         // Used to find the profile setters, depending on the image quality
diff --git a/Gems/Atom/Asset/ImageProcessingAtom/Code/Source/Compressors/ISPCTextureCompressor.h b/Gems/Atom/Asset/ImageProcessingAtom/Code/Source/Compressors/ISPCTextureCompressor.h
index 8652b60b68..2ab0dfc833 100644
--- a/Gems/Atom/Asset/ImageProcessingAtom/Code/Source/Compressors/ISPCTextureCompressor.h
+++ b/Gems/Atom/Asset/ImageProcessingAtom/Code/Source/Compressors/ISPCTextureCompressor.h
@@ -28,7 +28,9 @@ namespace ImageProcessingAtom
 
         ColorSpace GetSupportedColorSpace(EPixelFormat compressFormat) const final;
         IImageObjectPtr CompressImage(IImageObjectPtr sourceImage, EPixelFormat destinationFormat, const CompressOption* compressOption) const final;
-        IImageObjectPtr DecompressImage(IImageObjectPtr sourceImage, EPixelFormat destinationFormat) const final;
+        IImageObjectPtr DecompressImage(IImageObjectPtr sourceImage, EPixelFormat destinationFormat) const final;        
+        const char* GetName() const final;
+
 
         EPixelFormat GetSuggestedUncompressedFormat(EPixelFormat compressedfmt, EPixelFormat uncompressedfmt) const final;
     };
diff --git a/Gems/Atom/Asset/ImageProcessingAtom/Code/Source/Compressors/PVRTC.cpp b/Gems/Atom/Asset/ImageProcessingAtom/Code/Source/Compressors/PVRTC.cpp
index 7e11a83cae..0002ff4678 100644
--- a/Gems/Atom/Asset/ImageProcessingAtom/Code/Source/Compressors/PVRTC.cpp
+++ b/Gems/Atom/Asset/ImageProcessingAtom/Code/Source/Compressors/PVRTC.cpp
@@ -107,6 +107,11 @@ namespace ImageProcessingAtom
         return ColorSpace::autoSelect;
     }
 
+    const char* PVRTCCompressor::GetName() const
+    {
+        return "PVRTCCompressor";
+    }
+
     bool PVRTCCompressor::DoesSupportDecompress([[maybe_unused]] EPixelFormat fmtDst)
     {
         return true;
diff --git a/Gems/Atom/Asset/ImageProcessingAtom/Code/Source/Compressors/PVRTC.h b/Gems/Atom/Asset/ImageProcessingAtom/Code/Source/Compressors/PVRTC.h
index 86e31286b6..cedd6d6643 100644
--- a/Gems/Atom/Asset/ImageProcessingAtom/Code/Source/Compressors/PVRTC.h
+++ b/Gems/Atom/Asset/ImageProcessingAtom/Code/Source/Compressors/PVRTC.h
@@ -25,5 +25,6 @@ namespace ImageProcessingAtom
 
         EPixelFormat GetSuggestedUncompressedFormat(EPixelFormat compressedfmt, EPixelFormat uncompressedfmt) const override;
         ColorSpace GetSupportedColorSpace(EPixelFormat compressFormat) const final;
+        const char* GetName() const final;
     };
 } // namespace ImageProcessingAtom
diff --git a/Gems/Atom/Asset/ImageProcessingAtom/Code/Source/Converters/ConvertPixelFormat.cpp b/Gems/Atom/Asset/ImageProcessingAtom/Code/Source/Converters/ConvertPixelFormat.cpp
index 004f17c33d..8f851b46d1 100644
--- a/Gems/Atom/Asset/ImageProcessingAtom/Code/Source/Converters/ConvertPixelFormat.cpp
+++ b/Gems/Atom/Asset/ImageProcessingAtom/Code/Source/Converters/ConvertPixelFormat.cpp
@@ -6,6 +6,7 @@
  *
  */
 
+#include <AzCore/std/time.h>
 
 #include <Processing/ImageFlags.h>
 #include <Processing/ImageObjectImpl.h>
@@ -97,9 +98,18 @@ namespace ImageProcessingAtom
             else
             {
                 IImageObjectPtr dstImage = nullptr;
+                const PixelFormatInfo* compressedInfo = CPixelFormats::GetInstance().GetPixelFormatInfo(compressedFmt);
                 if (isSrcUncompressed)
                 {
+                    AZ::u64 startTime = AZStd::GetTimeUTCMilliSecond();
                     dstImage = compressor->CompressImage(Get(), fmtDst, &m_compressOption);
+                    AZ::u64 endTime = AZStd::GetTimeUTCMilliSecond();
+                    [[maybe_unused]] double processTime = static_cast<double>(endTime - startTime) / 1000.0;
+                    if (dstImage)
+                    {
+                        AZ_TracePrintf("Image Processing", "Image [%dx%d] was compressed to [%s] format by [%s] in %.3f seconds\n",
+                            Get()->GetWidth(0), Get()->GetHeight(0), compressedInfo->szName, compressor->GetName(), processTime);
+                    }
                 }
                 else
                 {
@@ -107,11 +117,13 @@ namespace ImageProcessingAtom
                 }
 
                 Set(dstImage);
-            }
-
-            if (Get() == nullptr)
-            {
-                AZ_Error("Image Processing", false, "The selected compressor failed to compress this image");
+                
+                if (dstImage == nullptr)
+                {
+                    AZ_Error("Image Processing", false, "Failed to use [%s] to %s [%s] format", compressor->GetName(),
+                        isSrcUncompressed ? "compress" : "decompress",
+                        compressedInfo->szName);
+                }
             }
         }
     }
diff --git a/Gems/Atom/Asset/ImageProcessingAtom/Code/Source/ImageBuilderComponent.cpp b/Gems/Atom/Asset/ImageProcessingAtom/Code/Source/ImageBuilderComponent.cpp
index 40d1429f4b..c688b0b20c 100644
--- a/Gems/Atom/Asset/ImageProcessingAtom/Code/Source/ImageBuilderComponent.cpp
+++ b/Gems/Atom/Asset/ImageProcessingAtom/Code/Source/ImageBuilderComponent.cpp
@@ -74,7 +74,7 @@ namespace ImageProcessingAtom
         builderDescriptor.m_busId = azrtti_typeid<ImageBuilderWorker>();
         builderDescriptor.m_createJobFunction = AZStd::bind(&ImageBuilderWorker::CreateJobs, &m_imageBuilder, AZStd::placeholders::_1, AZStd::placeholders::_2);
         builderDescriptor.m_processJobFunction = AZStd::bind(&ImageBuilderWorker::ProcessJob, &m_imageBuilder, AZStd::placeholders::_1, AZStd::placeholders::_2);
-        builderDescriptor.m_version = 23;   // [ATOM-14022]
+        builderDescriptor.m_version = 24;   // [SPEC-7821]
         builderDescriptor.m_analysisFingerprint = ImageProcessingAtom::BuilderSettingManager::Instance()->GetAnalysisFingerprint();
         m_imageBuilder.BusConnect(builderDescriptor.m_busId);
         AssetBuilderSDK::AssetBuilderBus::Broadcast(&AssetBuilderSDK::AssetBuilderBusTraits::RegisterBuilderInformation, builderDescriptor);
diff --git a/Gems/Atom/Asset/ImageProcessingAtom/Code/Source/ImageLoader/QtImageLoader.cpp b/Gems/Atom/Asset/ImageProcessingAtom/Code/Source/ImageLoader/QtImageLoader.cpp
index 3ac36b8b17..4124eebcd4 100644
--- a/Gems/Atom/Asset/ImageProcessingAtom/Code/Source/ImageLoader/QtImageLoader.cpp
+++ b/Gems/Atom/Asset/ImageProcessingAtom/Code/Source/ImageLoader/QtImageLoader.cpp
@@ -28,6 +28,7 @@ namespace ImageProcessingAtom
             QImage qimage(filename.c_str());
             if (qimage.isNull())
             {
+                AZ_Error("ImageProcessing", false, "Failed to load [%s] via QImage", filename.c_str());
                 return NULL;
             }
 
diff --git a/Gems/Atom/Asset/ImageProcessingAtom/Code/Source/Platform/Android/ImageProcessing_Traits_Android.h b/Gems/Atom/Asset/ImageProcessingAtom/Code/Source/Platform/Android/ImageProcessing_Traits_Android.h
index 22d0061573..0bd7ba3732 100644
--- a/Gems/Atom/Asset/ImageProcessingAtom/Code/Source/Platform/Android/ImageProcessing_Traits_Android.h
+++ b/Gems/Atom/Asset/ImageProcessingAtom/Code/Source/Platform/Android/ImageProcessing_Traits_Android.h
@@ -13,4 +13,3 @@
 #define AZ_TRAIT_IMAGEPROCESSING_PVRTEXLIB_USE_WINDLL_IMPORT 0
 #define AZ_TRAIT_IMAGEPROCESSING_SQUISH_DO_NOT_USE_FASTCALL 0
 #define AZ_TRAIT_IMAGEPROCESSING_USE_BASE10_BYTE_PREFIX 0
-#define AZ_TRAIT_IMAGEPROCESSING_USE_ISPC_TEXTURE_COMPRESSOR 0
diff --git a/Gems/Atom/Asset/ImageProcessingAtom/Code/Source/Platform/Linux/ImageProcessing_Traits_Linux.h b/Gems/Atom/Asset/ImageProcessingAtom/Code/Source/Platform/Linux/ImageProcessing_Traits_Linux.h
index 19b7621f8a..43e8a2b3f9 100644
--- a/Gems/Atom/Asset/ImageProcessingAtom/Code/Source/Platform/Linux/ImageProcessing_Traits_Linux.h
+++ b/Gems/Atom/Asset/ImageProcessingAtom/Code/Source/Platform/Linux/ImageProcessing_Traits_Linux.h
@@ -13,4 +13,3 @@
 #define AZ_TRAIT_IMAGEPROCESSING_PVRTEXLIB_USE_WINDLL_IMPORT 0
 #define AZ_TRAIT_IMAGEPROCESSING_SQUISH_DO_NOT_USE_FASTCALL 1
 #define AZ_TRAIT_IMAGEPROCESSING_USE_BASE10_BYTE_PREFIX 0
-#define AZ_TRAIT_IMAGEPROCESSING_USE_ISPC_TEXTURE_COMPRESSOR 0
diff --git a/Gems/Atom/Asset/ImageProcessingAtom/Code/Source/Platform/Mac/ImageProcessing_Traits_Mac.h b/Gems/Atom/Asset/ImageProcessingAtom/Code/Source/Platform/Mac/ImageProcessing_Traits_Mac.h
index a494f7ace7..2704fb0185 100644
--- a/Gems/Atom/Asset/ImageProcessingAtom/Code/Source/Platform/Mac/ImageProcessing_Traits_Mac.h
+++ b/Gems/Atom/Asset/ImageProcessingAtom/Code/Source/Platform/Mac/ImageProcessing_Traits_Mac.h
@@ -13,4 +13,3 @@
 #define AZ_TRAIT_IMAGEPROCESSING_PVRTEXLIB_USE_WINDLL_IMPORT 0
 #define AZ_TRAIT_IMAGEPROCESSING_SQUISH_DO_NOT_USE_FASTCALL 1
 #define AZ_TRAIT_IMAGEPROCESSING_USE_BASE10_BYTE_PREFIX 1
-#define AZ_TRAIT_IMAGEPROCESSING_USE_ISPC_TEXTURE_COMPRESSOR 0
diff --git a/Gems/Atom/Asset/ImageProcessingAtom/Code/Source/Platform/Windows/ImageProcessing_Traits_Windows.h b/Gems/Atom/Asset/ImageProcessingAtom/Code/Source/Platform/Windows/ImageProcessing_Traits_Windows.h
index 3fdd1ddf66..e8d25c2dad 100644
--- a/Gems/Atom/Asset/ImageProcessingAtom/Code/Source/Platform/Windows/ImageProcessing_Traits_Windows.h
+++ b/Gems/Atom/Asset/ImageProcessingAtom/Code/Source/Platform/Windows/ImageProcessing_Traits_Windows.h
@@ -13,4 +13,3 @@
 #define AZ_TRAIT_IMAGEPROCESSING_PVRTEXLIB_USE_WINDLL_IMPORT 1
 #define AZ_TRAIT_IMAGEPROCESSING_SQUISH_DO_NOT_USE_FASTCALL 0
 #define AZ_TRAIT_IMAGEPROCESSING_USE_BASE10_BYTE_PREFIX 0
-#define AZ_TRAIT_IMAGEPROCESSING_USE_ISPC_TEXTURE_COMPRESSOR 1
diff --git a/Gems/Atom/Asset/ImageProcessingAtom/Code/Source/Platform/Windows/platform_windows.cmake b/Gems/Atom/Asset/ImageProcessingAtom/Code/Source/Platform/Windows/platform_windows.cmake
index ca8dad1013..5cd1fb5a22 100644
--- a/Gems/Atom/Asset/ImageProcessingAtom/Code/Source/Platform/Windows/platform_windows.cmake
+++ b/Gems/Atom/Asset/ImageProcessingAtom/Code/Source/Platform/Windows/platform_windows.cmake
@@ -6,11 +6,3 @@
 #
 #
 
-# windows requires the 3rd Party ISPCTexComp library.
-
-ly_associate_package(PACKAGE_NAME ISPCTexComp-2021.3-rev1-windows    TARGETS ISPCTexComp     PACKAGE_HASH 324fb051a549bc96571530e63c01e18a4c860db45317734d86276fe27a45f6dd)
-
-set(LY_BUILD_DEPENDENCIES
-        PUBLIC
-            3rdParty::ISPCTexComp
-    )
diff --git a/Gems/Atom/Asset/ImageProcessingAtom/Code/Source/Platform/Windows/platform_windows_files.cmake b/Gems/Atom/Asset/ImageProcessingAtom/Code/Source/Platform/Windows/platform_windows_files.cmake
index bb3cd74557..f404a9ef60 100644
--- a/Gems/Atom/Asset/ImageProcessingAtom/Code/Source/Platform/Windows/platform_windows_files.cmake
+++ b/Gems/Atom/Asset/ImageProcessingAtom/Code/Source/Platform/Windows/platform_windows_files.cmake
@@ -9,6 +9,4 @@
 set(FILES
     ImageProcessing_Traits_Platform.h
     ImageProcessing_Traits_Windows.h
-    ../../Compressors/ISPCTextureCompressor.cpp
-    ../../Compressors/ISPCTextureCompressor.h
 )
diff --git a/Gems/Atom/Asset/ImageProcessingAtom/Code/Source/Platform/iOS/ImageProcessing_Traits_iOS.h b/Gems/Atom/Asset/ImageProcessingAtom/Code/Source/Platform/iOS/ImageProcessing_Traits_iOS.h
index a494f7ace7..2704fb0185 100644
--- a/Gems/Atom/Asset/ImageProcessingAtom/Code/Source/Platform/iOS/ImageProcessing_Traits_iOS.h
+++ b/Gems/Atom/Asset/ImageProcessingAtom/Code/Source/Platform/iOS/ImageProcessing_Traits_iOS.h
@@ -13,4 +13,3 @@
 #define AZ_TRAIT_IMAGEPROCESSING_PVRTEXLIB_USE_WINDLL_IMPORT 0
 #define AZ_TRAIT_IMAGEPROCESSING_SQUISH_DO_NOT_USE_FASTCALL 1
 #define AZ_TRAIT_IMAGEPROCESSING_USE_BASE10_BYTE_PREFIX 1
-#define AZ_TRAIT_IMAGEPROCESSING_USE_ISPC_TEXTURE_COMPRESSOR 0
diff --git a/Gems/Atom/Asset/ImageProcessingAtom/Code/Source/Processing/ImageConvert.cpp b/Gems/Atom/Asset/ImageProcessingAtom/Code/Source/Processing/ImageConvert.cpp
index 3f28e89334..a1093ffc37 100644
--- a/Gems/Atom/Asset/ImageProcessingAtom/Code/Source/Processing/ImageConvert.cpp
+++ b/Gems/Atom/Asset/ImageProcessingAtom/Code/Source/Processing/ImageConvert.cpp
@@ -869,7 +869,7 @@ namespace ImageProcessingAtom
         return process;
     }
 
-    void ImageConvertProcess::CreateIBLCubemap(AZ::Uuid presetUUID, const char* fileNameSuffix, IImageObjectPtr cubemapImage)
+    void ImageConvertProcess::CreateIBLCubemap(AZ::Uuid presetUUID, const char* fileNameSuffix, IImageObjectPtr& cubemapImage)
     {
         const AZStd::string& platformId = m_input->m_platform;
         AZStd::string_view filePath;
diff --git a/Gems/Atom/Asset/ImageProcessingAtom/Code/Source/Processing/ImageConvert.h b/Gems/Atom/Asset/ImageProcessingAtom/Code/Source/Processing/ImageConvert.h
index db34c46e2a..190e68ca31 100644
--- a/Gems/Atom/Asset/ImageProcessingAtom/Code/Source/Processing/ImageConvert.h
+++ b/Gems/Atom/Asset/ImageProcessingAtom/Code/Source/Processing/ImageConvert.h
@@ -161,7 +161,7 @@ namespace ImageProcessingAtom
         bool FillCubemapMipmaps();
 
         //IBL cubemap generation, this creates a separate ImageConvertProcess
-        void CreateIBLCubemap(AZ::Uuid presetUUID, const char* fileNameSuffix, IImageObjectPtr cubemapImage);
+        void CreateIBLCubemap(AZ::Uuid presetUUID, const char* fileNameSuffix, IImageObjectPtr& cubemapImage);
 
         //convert color space to linear with pixel format rgba32f
         bool ConvertToLinear();
diff --git a/Gems/Atom/Asset/ImageProcessingAtom/Code/Source/Processing/ImageObjectImpl.h b/Gems/Atom/Asset/ImageProcessingAtom/Code/Source/Processing/ImageObjectImpl.h
index c4cbd13fea..c8b8ced496 100644
--- a/Gems/Atom/Asset/ImageProcessingAtom/Code/Source/Processing/ImageObjectImpl.h
+++ b/Gems/Atom/Asset/ImageProcessingAtom/Code/Source/Processing/ImageObjectImpl.h
@@ -36,10 +36,6 @@ namespace ImageProcessingAtom
         AZ::u32 GetWidth(AZ::u32 mip) const override;
         AZ::u32 GetHeight(AZ::u32 mip) const override;
         AZ::u32 GetMipCount() const override;
-        bool IsCubemap() const override
-        {
-            return false;
-        };
 
         void GetImagePointer(AZ::u32 mip, AZ::u8*& pMem, AZ::u32& pitch) const override;
         AZ::u32 GetMipBufSize(AZ::u32 mip) const override;
diff --git a/Gems/Atom/Asset/ImageProcessingAtom/Code/Tests/ImageProcessing_Test.cpp b/Gems/Atom/Asset/ImageProcessingAtom/Code/Tests/ImageProcessing_Test.cpp
index 20aa1e927d..fa1b092e6b 100644
--- a/Gems/Atom/Asset/ImageProcessingAtom/Code/Tests/ImageProcessing_Test.cpp
+++ b/Gems/Atom/Asset/ImageProcessingAtom/Code/Tests/ImageProcessing_Test.cpp
@@ -71,11 +71,6 @@ using namespace ImageProcessingAtom;
 
 namespace UnitTest
 {
-    namespace
-    {
-        static const char* s_gemFolder;
-    }
-
     // Expose AZ::AssetManagerComponent::Reflect function for testing
     class MyAssetManagerComponent
         : public AZ::AssetManagerComponent
@@ -125,6 +120,8 @@ namespace UnitTest
         AZStd::unique_ptr<AZ::JsonSystemComponent> m_jsonSystemComponent;
         AZStd::vector<AZStd::unique_ptr<AZ::Data::AssetHandler>> m_assetHandlers;
         AZStd::string m_gemFolder;
+        AZStd::string m_outputRootFolder;
+        AZStd::string m_outputFolder;
 
         void SetUp() override
         {
@@ -172,7 +169,7 @@ namespace UnitTest
             AzQtComponents::PrepareQtPaths();
 
             m_gemFolder = AZ::Test::GetEngineRootPath() + "/Gems/Atom/Asset/ImageProcessingAtom/";
-            s_gemFolder = m_gemFolder.c_str();
+            m_outputFolder = m_gemFolder + AZStd::string("Code/Tests/TestAssets/temp/");
 
             m_defaultSettingFolder = m_gemFolder + AZStd::string("Config/");
             m_testFileFolder = m_gemFolder + AZStd::string("Code/Tests/TestAssets/");
@@ -185,7 +182,7 @@ namespace UnitTest
         void TearDown() override
         {
             m_gemFolder = AZStd::string();
-            s_gemFolder = "";
+            m_outputFolder = AZStd::string();
             m_defaultSettingFolder = AZStd::string();
             m_testFileFolder = AZStd::string();
 
@@ -226,16 +223,16 @@ namespace UnitTest
             Image_512X288_RGB8_Tga,
             Image_1024X1024_RGB8_Tif,
             Image_UpperCase_Tga,
-            Image_512x512_Normal_Tga,
+            Image_512x512_Normal_Tga,       // QImage doesn't support loading this file.
             Image_128x128_Transparent_Tga,
             Image_237x177_RGB_Jpg,
             Image_GreyScale_Png,
-            Image_BlackWhite_Png,
             Image_Alpha8_64x64_Mip7_Dds,
             Image_BGRA_64x64_Mip7_Dds,
             Image_Luminance8bpp_66x33_dds,
             Image_BGR_64x64_dds,
-            Image_Sunset_4096x2048_R16G16B16A16F_exr
+            Image_defaultprobe_cm_1536x256_64bits_tif,
+            Image_workshop_iblskyboxcm_exr
         };
 
         //image file names for testing
@@ -258,17 +255,29 @@ namespace UnitTest
             m_imagFileNameMap[Image_128x128_Transparent_Tga] = m_testFileFolder + "128x128_RGBA8.tga";
             m_imagFileNameMap[Image_237x177_RGB_Jpg] = m_testFileFolder + "237x177_RGB.jpg";
             m_imagFileNameMap[Image_GreyScale_Png] = m_testFileFolder + "greyscale.png";
-            m_imagFileNameMap[Image_BlackWhite_Png] = m_testFileFolder + "BlackWhite.png";
             m_imagFileNameMap[Image_Alpha8_64x64_Mip7_Dds] = m_testFileFolder + "Alpha8_64x64_Mip7.dds";
             m_imagFileNameMap[Image_BGRA_64x64_Mip7_Dds] = m_testFileFolder + "BGRA_64x64_MIP7.dds";
             m_imagFileNameMap[Image_Luminance8bpp_66x33_dds] = m_testFileFolder + "Luminance8bpp_66x33.dds";
             m_imagFileNameMap[Image_BGR_64x64_dds] = m_testFileFolder + "RGBA_64x64.dds";
-            m_imagFileNameMap[Image_Sunset_4096x2048_R16G16B16A16F_exr] = m_testFileFolder + "sunset_cm.exr";
+            m_imagFileNameMap[Image_defaultprobe_cm_1536x256_64bits_tif] = m_testFileFolder + "defaultProbe_cm.tif";
+            m_imagFileNameMap[Image_workshop_iblskyboxcm_exr] = m_testFileFolder + "workshop_iblskyboxcm.exr";
         }
 
     public:
+        void SetOutputSubFolder(const char* subFolderName)
+        {
+            if (subFolderName)
+            {
+                m_outputFolder = m_outputRootFolder + "/" + subFolderName;
+            }
+            else
+            {
+                m_outputFolder  = m_outputRootFolder;
+            }
+        }
+
         //helper function to save an image object to a file through QtImage
-        static void SaveImageToFile([[maybe_unused]] const IImageObjectPtr imageObject, [[maybe_unused]] const AZStd::string imageName, [[maybe_unused]] AZ::u32 maxMipCnt = 100)
+        void SaveImageToFile([[maybe_unused]] const IImageObjectPtr imageObject, [[maybe_unused]] const AZStd::string imageName, [[maybe_unused]] AZ::u32 maxMipCnt = 100)
         {
     #ifndef DEBUG_OUTPUT_IMAGES
             return;
@@ -278,12 +287,12 @@ namespace UnitTest
                 return;
             }
 
-            //create the directory if it's not exist
-            AZStd::string outputDir = s_gemFolder + AZStd::string("Code/Tests/TestAssets/Output/");
-            QDir dir(outputDir.data());
-            if (!dir.exists())
+            // create dir if it doesn't exist
+            QDir dir;
+            QDir outputDir(m_outputFolder.c_str());
+            if (!outputDir.exists())
             {
-                dir.mkpath(".");
+                dir.mkpath(m_outputFolder.c_str());
             }
 
             //save origin file pixel format so we could use it to generate name later
@@ -303,12 +312,13 @@ namespace UnitTest
                 finalImage->GetImagePointer(mip, imageBuf, pitch);
                 uint32 width = finalImage->GetWidth(mip);
                 uint32 height = finalImage->GetHeight(mip);
+                uint32 originalSize = imageObject->GetMipBufSize(mip);
 
                 //generate file name
                 char filePath[2048];
-                azsprintf(filePath, "%s%s_%s_mip%d_%dx%d.png", outputDir.data(), imageName.c_str()
+                azsprintf(filePath, "%s%s_%s_mip%d_%dx%d_%d.png", m_outputFolder.data(), imageName.c_str()
                     , CPixelFormats::GetInstance().GetPixelFormatInfo(originPixelFormat)->szName
-                    , mip, width, height);
+                    , mip, width, height, originalSize);
 
                 QImage qimage(imageBuf, width, height, pitch, QImage::Format_RGBA8888);
                 qimage.save(filePath);
@@ -385,7 +395,7 @@ namespace UnitTest
         }
 
 
-        static bool CompareDDSImage(const QString& imagePath1, const QString& imagePath2, QString& output)
+        bool CompareDDSImage(const QString& imagePath1, const QString& imagePath2, QString& output)
         {
             IImageObjectPtr image1, alphaImage1, image2, alphaImage2;
 
@@ -530,15 +540,7 @@ namespace UnitTest
     TEST_F(ImageProcessingTest, TestCubemapLayouts)
     {
         {
-            IImageObjectPtr srcImage(LoadImageFromFile(m_imagFileNameMap[Image_Sunset_4096x2048_R16G16B16A16F_exr]));
-            ImageToProcess imageToProcess(srcImage);
-            imageToProcess.ConvertCubemapLayout(CubemapLayoutHorizontalCross);
-            ASSERT_TRUE(imageToProcess.Get()->GetWidth(0) * 3 == imageToProcess.Get()->GetHeight(0) * 4);
-            SaveImageToFile(imageToProcess.Get(), "LatLong", 1);
-        }
-
-        {
-            IImageObjectPtr srcImage(LoadImageFromFile(m_testFileFolder + "defaultProbe_cm.tif"));
+            IImageObjectPtr srcImage(LoadImageFromFile(m_imagFileNameMap[Image_defaultprobe_cm_1536x256_64bits_tif]));
             ImageToProcess imageToProcess(srcImage);
 
             imageToProcess.ConvertCubemapLayout(CubemapLayoutVertical);
@@ -635,12 +637,8 @@ namespace UnitTest
         ASSERT_TRUE(img != nullptr);
         ASSERT_TRUE(img->GetPixelFormat() == ePixelFormat_B8G8R8);
 
-        // Exr files
-        img = IImageObjectPtr(LoadImageFromFile(m_imagFileNameMap[Image_Sunset_4096x2048_R16G16B16A16F_exr]));
-        ASSERT_TRUE(img != nullptr);
-        img = IImageObjectPtr(LoadImageFromFile(m_testFileFolder + "abandoned_sanatorium_staircase_cm.exr"));
-        ASSERT_TRUE(img != nullptr);
-        img = IImageObjectPtr(LoadImageFromFile(m_testFileFolder + "road_in_tenerife_mountain_cm.exr"));
+        // Exr file
+        img = IImageObjectPtr(LoadImageFromFile(m_imagFileNameMap[Image_workshop_iblskyboxcm_exr]));
         ASSERT_TRUE(img != nullptr);
     }
 
@@ -783,39 +781,36 @@ namespace UnitTest
         ASSERT_TRUE(dstImage3->CompareImage(dstImage1));
     }
 
-    TEST_F(ImageProcessingTest, DISABLED_TestConvertPVRTC)
-    {
-        //source image
-        AZStd::string inputFile;
-        inputFile = "../AutomatedTesting/Objects/ParticleAssets/ShowRoom/showroom_pipe_blue_001_ddna.tif";
-
-        IImageObjectPtr srcImage(LoadImageFromFile(inputFile));
-        ImageToProcess imageToProcess(srcImage);
-
-        for (EPixelFormat pixelFormat = ePixelFormat_PVRTC2; pixelFormat <= ePixelFormat_ETC2a;)
-        {
-            imageToProcess.Set(srcImage);
-            imageToProcess.ConvertFormat(pixelFormat);
-            SaveImageToFile(imageToProcess.Get(), "Compressor", 1);
-
-            //next format
-            pixelFormat = EPixelFormat(pixelFormat + 1);
-        }
-    }
-
-    TEST_F(ImageProcessingTest, DISABLED_TestConvertFormat)
+    TEST_F(ImageProcessingTest, TestConvertFormatCompressed)
     {
-        EPixelFormat pixelFormat;
         IImageObjectPtr srcImage;
 
         //images to be tested
-        static const int imageCount = 5;
+        static const int imageCount = 4;
         ImageFeature images[imageCount] = {
             Image_20X16_RGBA8_Png,
-            Image_32X32_16bit_F_Tif,
-            Image_32X32_32bit_F_Tif,
-            Image_512x512_Normal_Tga,
-            Image_128x128_Transparent_Tga };
+            Image_237x177_RGB_Jpg,
+            Image_128x128_Transparent_Tga,
+            Image_defaultprobe_cm_1536x256_64bits_tif};
+
+        // collect all compressed pixel formats
+        AZStd::vector<EPixelFormat> compressedFormats;
+        for (uint32 i = 0; i < ePixelFormat_Count; i++)
+        {
+            EPixelFormat pixelFormat = (EPixelFormat)i;
+            auto formatInfo = CPixelFormats::GetInstance().GetPixelFormatInfo(pixelFormat);
+            if (formatInfo->bCompressed)
+            {
+                // exclude astc formats until we add astc compressor to all platforms
+                // exclude pvrtc formats (deprecating) 
+                if (!IsASTCFormat(pixelFormat)
+                    && pixelFormat != ePixelFormat_PVRTC2 && pixelFormat != ePixelFormat_PVRTC4
+                    && !IsETCFormat(pixelFormat)) // skip ETC since it's very slow
+                {
+                    compressedFormats.push_back(pixelFormat);
+                }
+            }
+        }
 
         for (int imageIdx = 0; imageIdx < imageCount; imageIdx++)
         {
@@ -827,42 +822,37 @@ namespace UnitTest
             ImageToProcess imageToProcess(srcImage);
 
             //test ConvertFormat functions against all the pixel formats
-            for (pixelFormat = ePixelFormat_R8G8B8A8; pixelFormat < ePixelFormat_Unknown;)
+            for (EPixelFormat pixelFormat : compressedFormats)
             {
+                // 
+                if (!CPixelFormats::GetInstance().IsImageSizeValid(pixelFormat, srcImage->GetWidth(0), srcImage->GetHeight(0), false))
+                {
+                    continue;
+                }
+
+                auto formatInfo = CPixelFormats::GetInstance().GetPixelFormatInfo(pixelFormat);
                 imageToProcess.Set(srcImage);
                 imageToProcess.ConvertFormat(pixelFormat);
 
-                ASSERT_TRUE(imageToProcess.Get());
-
-                //if the format is compressed and there is no compressor for it, it won't be converted to the expected format
-                if (ICompressor::FindCompressor(pixelFormat, ImageProcessingAtom::ColorSpace::autoSelect, true) == nullptr
-                    && !CPixelFormats::GetInstance().IsPixelFormatUncompressed(pixelFormat))
-                {
-                    ASSERT_TRUE(imageToProcess.Get()->GetPixelFormat() != pixelFormat);
-                }
-                else
+                if (!imageToProcess.Get())
                 {
-                    //validate the size and it may not working for some uncompressed format
-                    if (!CPixelFormats::GetInstance().IsImageSizeValid(
-                        pixelFormat, srcImage->GetWidth(0), srcImage->GetHeight(0), false))
-                    {
-                        ASSERT_TRUE(imageToProcess.Get()->GetPixelFormat() != pixelFormat);
-                    }
-                    else
-                    {
-                        ASSERT_TRUE(imageToProcess.Get()->GetPixelFormat() == pixelFormat);
-
-                        //save the image to a file so we can check the visual result
-                        SaveImageToFile(imageToProcess.Get(), imageName, 1);
-
-                        //convert back to an uncompressed format and expect it will be successful
-                        imageToProcess.ConvertFormat(ePixelFormat_R8G8B8A8);
-                        ASSERT_TRUE(imageToProcess.Get()->GetPixelFormat() == ePixelFormat_R8G8B8A8);
-                    }
+                    AZ_Warning("test", false, "unsupported format: %s",  formatInfo->szName);
+                    continue;
                 }
+                ASSERT_TRUE(imageToProcess.Get());
+                ASSERT_TRUE(imageToProcess.Get()->GetPixelFormat() == pixelFormat);
+
+                // Get compressor name
+                ColorSpace sourceColorSpace = srcImage->HasImageFlags(EIF_SRGBRead) ? ColorSpace::sRGB : ColorSpace::linear;
+                ICompressorPtr compressor = ICompressor::FindCompressor(pixelFormat, sourceColorSpace, true);
 
-                //next pixel format
-                pixelFormat = EPixelFormat(pixelFormat + 1);
+                //save the image to a file so we can check the visual result
+                AZStd::string outputName = AZStd::string::format("%s_%s", imageName.c_str(), compressor->GetName());
+                SaveImageToFile(imageToProcess.Get(), outputName, 1);
+
+                //convert back to an uncompressed format and expect it will be successful
+                imageToProcess.ConvertFormat(ePixelFormat_R8G8B8A8);
+                ASSERT_TRUE(imageToProcess.Get()->GetPixelFormat() == ePixelFormat_R8G8B8A8);
             }
         }
     }
@@ -932,22 +922,22 @@ namespace UnitTest
     #endif //AZ_TOOLS_EXPAND_FOR_RESTRICTED_PLATFORMS
     }
 
-    TEST_F(ImageProcessingTest, DISABLED_TestCubemap)
+    //test image conversion for builder
+    TEST_F(ImageProcessingTest, TestBuilderImageConvertor)
     {
         //load builder presets
         auto outcome = BuilderSettingManager::Instance()->LoadConfigFromFolder(m_defaultSettingFolder);
         ASSERT_TRUE(outcome.IsSuccess());
 
-        const AZStd::string outputFolder = m_gemFolder + AZStd::string("Code/Tests/TestAssets/temp/");
         AZStd::string inputFile;
         AZStd::vector<AssetBuilderSDK::JobProduct> outProducts;
 
-        inputFile = m_testFileFolder + "defaultProbe_cm.tif";
-
-        ImageConvertProcess* process = CreateImageConvertProcess(inputFile, outputFolder, "pc", outProducts);
+        inputFile = m_imagFileNameMap[Image_128x128_Transparent_Tga];
+        ImageConvertProcess* process = CreateImageConvertProcess(inputFile, m_outputFolder, "pc", outProducts, m_context.get());
 
         if (process != nullptr)
         {
+            //the process can be stopped if the job is canceled or the worker is shutting down
             int step = 0;
             while (!process->IsFinished())
             {
@@ -958,78 +948,49 @@ namespace UnitTest
             //get process result
             ASSERT_TRUE(process->IsSucceed());
 
-            SaveImageToFile(process->GetOutputImage(), "cubemap", 100);
-            SaveImageToFile(process->GetOutputIBLSpecularCubemap(), "iblspecularcubemap", 100);
-            SaveImageToFile(process->GetOutputIBLDiffuseCubemap(), "ibldiffusecubemap", 100);
-            SaveImageToFile(process->GetOutputAlphaImage(), "alpha", 1);
+            SaveImageToFile(process->GetOutputImage(), "rgb", 10);
+            SaveImageToFile(process->GetOutputAlphaImage(), "alpha", 10);
+
             process->GetAppendOutputProducts(outProducts);
 
             delete process;
         }
     }
 
-    //test image conversion for builder
-    TEST_F(ImageProcessingTest, TestBuilderImageConvertor)
+    TEST_F(ImageProcessingTest, TestIblSkyboxPreset)
     {
         //load builder presets
         auto outcome = BuilderSettingManager::Instance()->LoadConfigFromFolder(m_defaultSettingFolder);
         ASSERT_TRUE(outcome.IsSuccess());
 
-        const AZStd::string outputFolder = m_gemFolder + AZStd::string("Code/Tests/TestAssets/temp/");
         AZStd::string inputFile;
         AZStd::vector<AssetBuilderSDK::JobProduct> outProducts;
 
-        inputFile = m_imagFileNameMap[Image_128x128_Transparent_Tga];
-        ImageConvertProcess* process = CreateImageConvertProcess(inputFile, outputFolder, "pc", outProducts, m_context.get());
+        inputFile = m_imagFileNameMap[Image_workshop_iblskyboxcm_exr];
+        ImageConvertProcess* process = CreateImageConvertProcess(inputFile, m_outputFolder, "pc", outProducts, m_context.get());
 
         if (process != nullptr)
         {
-            //the process can be stopped if the job is canceled or the worker is shutting down
-            int step = 0;
-            while (!process->IsFinished())
-            {
-                process->UpdateProcess();
-                step++;
-            }
+            process->ProcessAll();
 
             //get process result
             ASSERT_TRUE(process->IsSucceed());
 
-            SaveImageToFile(process->GetOutputImage(), "rgb", 10);
-            SaveImageToFile(process->GetOutputAlphaImage(), "alpha", 10);
+            auto specularImage = process->GetOutputIBLSpecularCubemap();
+            auto diffuseImage = process->GetOutputIBLDiffuseCubemap();
+            ASSERT_TRUE(process->GetOutputImage());
+            ASSERT_TRUE(specularImage);
+            ASSERT_TRUE(diffuseImage);
 
-            process->GetAppendOutputProducts(outProducts);
+            // output converted result if save image is enabled
+            SaveImageToFile(process->GetOutputImage(), "ibl_skybox", 10);
+            SaveImageToFile(specularImage, "ibl_specular", 10);
+            SaveImageToFile(diffuseImage, "ibl_diffuse", 10);
 
             delete process;
         }
     }
 
-
-    //test image loading function for output dds files
-    TEST_F(ImageProcessingTest, DISABLED_TestLoadDdsImage)
-    {
-        IImageObjectPtr originImage, alphaImage;
-        AZStd::string inputFolder = "../AutomatedTesting/Cache/pc/engineassets/texturemsg/";
-        AZStd::string inputFile;
-
-        inputFile = "E:/Javelin_NWLYDev/dev/Cache/Assets/pc/assets/textures/blend_maps/moss/jav_moss_ddn.dds";
-
-        IImageObjectPtr newImage = IImageObjectPtr(DdsLoader::LoadImageFromFileLegacy(inputFile));
-        if (newImage->HasImageFlags(EIF_AttachedAlpha))
-        {
-            if (newImage->HasImageFlags(EIF_Splitted))
-            {
-                alphaImage = IImageObjectPtr(DdsLoader::LoadImageFromFileLegacy(inputFile + ".a"));
-            }
-            else
-            {
-                alphaImage = IImageObjectPtr(DdsLoader::LoadAttachedImageFromDdsFileLegacy(inputFile, newImage));
-            }
-        }
-
-        SaveImageToFile(newImage, "jav_moss_ddn", 10);
-    }
-
     TEST_F(ImageProcessingTest, DISABLED_CompareOutputImage)
     {
         AZStd::string curretTextureFolder = "../TestAssets/TextureAssets/assets_new/textures";
diff --git a/Gems/Atom/Asset/ImageProcessingAtom/Code/Tests/TestAssets/.gitignore b/Gems/Atom/Asset/ImageProcessingAtom/Code/Tests/TestAssets/.gitignore
new file mode 100644
index 0000000000..de16d18e9c
--- /dev/null
+++ b/Gems/Atom/Asset/ImageProcessingAtom/Code/Tests/TestAssets/.gitignore
@@ -0,0 +1 @@
+[Tt]emp/**
diff --git a/Gems/Atom/Asset/ImageProcessingAtom/Code/Tests/TestAssets/BlackWhite.png b/Gems/Atom/Asset/ImageProcessingAtom/Code/Tests/TestAssets/BlackWhite.png
deleted file mode 100644
index dfe856790a..0000000000
--- a/Gems/Atom/Asset/ImageProcessingAtom/Code/Tests/TestAssets/BlackWhite.png
+++ /dev/null
@@ -1,3 +0,0 @@
-version https://git-lfs.github.com/spec/v1
-oid sha256:969c6597a6346c5ff8ae24b4ae143bacbeed2944dd139ddef9b440483dbe4c02
-size 8866921
diff --git a/Gems/Atom/Asset/ImageProcessingAtom/Code/Tests/TestAssets/LatLong_cm.png b/Gems/Atom/Asset/ImageProcessingAtom/Code/Tests/TestAssets/LatLong_cm.png
deleted file mode 100644
index 729868e8c0..0000000000
--- a/Gems/Atom/Asset/ImageProcessingAtom/Code/Tests/TestAssets/LatLong_cm.png
+++ /dev/null
@@ -1,3 +0,0 @@
-version https://git-lfs.github.com/spec/v1
-oid sha256:ef6c54d5fa8dd3906d07eb4d3a4d664e82d957103e4bfbcaa951e3722348300d
-size 749794
diff --git a/Gems/Atom/Asset/ImageProcessingAtom/Code/Tests/TestAssets/Lenstexture_dirtyglass.tif b/Gems/Atom/Asset/ImageProcessingAtom/Code/Tests/TestAssets/Lenstexture_dirtyglass.tif
deleted file mode 100644
index 090991ec7a..0000000000
--- a/Gems/Atom/Asset/ImageProcessingAtom/Code/Tests/TestAssets/Lenstexture_dirtyglass.tif
+++ /dev/null
@@ -1,3 +0,0 @@
-version https://git-lfs.github.com/spec/v1
-oid sha256:265ae231486dc6d5d61aa2416b0010ea743722f7238660faeed9edacd46e8a6b
-size 6303186
diff --git a/Gems/Atom/Asset/ImageProcessingAtom/Code/Tests/TestAssets/abandoned_sanatorium_staircase_cm.exr b/Gems/Atom/Asset/ImageProcessingAtom/Code/Tests/TestAssets/abandoned_sanatorium_staircase_cm.exr
deleted file mode 100644
index f4612e45dc..0000000000
--- a/Gems/Atom/Asset/ImageProcessingAtom/Code/Tests/TestAssets/abandoned_sanatorium_staircase_cm.exr
+++ /dev/null
@@ -1,3 +0,0 @@
-version https://git-lfs.github.com/spec/v1
-oid sha256:a559d4b21606d663bc9c7f9d8086646770f5e383c2214e6d3be0b192abbc6888
-size 7736382
diff --git a/Gems/Atom/Asset/ImageProcessingAtom/Code/Tests/TestAssets/red.png b/Gems/Atom/Asset/ImageProcessingAtom/Code/Tests/TestAssets/red.png
deleted file mode 100644
index 800faddee4..0000000000
--- a/Gems/Atom/Asset/ImageProcessingAtom/Code/Tests/TestAssets/red.png
+++ /dev/null
@@ -1,3 +0,0 @@
-version https://git-lfs.github.com/spec/v1
-oid sha256:37d146db3de179add861ee86d2316ef1dd413cdb0b02448b3b95bf0023f44bae
-size 613
diff --git a/Gems/Atom/Asset/ImageProcessingAtom/Code/Tests/TestAssets/road_in_tenerife_mountain_cm.exr b/Gems/Atom/Asset/ImageProcessingAtom/Code/Tests/TestAssets/road_in_tenerife_mountain_cm.exr
deleted file mode 100644
index 358f4a3fcb..0000000000
--- a/Gems/Atom/Asset/ImageProcessingAtom/Code/Tests/TestAssets/road_in_tenerife_mountain_cm.exr
+++ /dev/null
@@ -1,3 +0,0 @@
-version https://git-lfs.github.com/spec/v1
-oid sha256:95ec8e752ba10edb8242a9bb8cc78e5b85fe2861268cf95e06942e2a10ef243c
-size 7484335
diff --git a/Gems/Atom/Asset/ImageProcessingAtom/Code/Tests/TestAssets/sunset_cm.exr b/Gems/Atom/Asset/ImageProcessingAtom/Code/Tests/TestAssets/sunset_cm.exr
deleted file mode 100644
index d1179b96de..0000000000
--- a/Gems/Atom/Asset/ImageProcessingAtom/Code/Tests/TestAssets/sunset_cm.exr
+++ /dev/null
@@ -1,3 +0,0 @@
-version https://git-lfs.github.com/spec/v1
-oid sha256:da49114be7305fad10121f92cdf6f153ebb3bc302edc662f2ed75cd45306ab7f
-size 50364729
diff --git a/Gems/Atom/Asset/ImageProcessingAtom/Code/Tests/TestAssets/temp/128x128_RGBA8.tga.streamingimage b/Gems/Atom/Asset/ImageProcessingAtom/Code/Tests/TestAssets/temp/128x128_RGBA8.tga.streamingimage
deleted file mode 100644
index 6826f2a76e..0000000000
Binary files a/Gems/Atom/Asset/ImageProcessingAtom/Code/Tests/TestAssets/temp/128x128_RGBA8.tga.streamingimage and /dev/null differ
diff --git a/Gems/Atom/Asset/ImageProcessingAtom/Code/Tests/TestAssets/workshop_iblskyboxcm.exr b/Gems/Atom/Asset/ImageProcessingAtom/Code/Tests/TestAssets/workshop_iblskyboxcm.exr
new file mode 100644
index 0000000000..72937bd6d0
--- /dev/null
+++ b/Gems/Atom/Asset/ImageProcessingAtom/Code/Tests/TestAssets/workshop_iblskyboxcm.exr
@@ -0,0 +1,3 @@
+version https://git-lfs.github.com/spec/v1
+oid sha256:010165af78bdafe61dad187b250598fa670325428271f5bcf9bd4d839f4cc1c0
+size 20114684
diff --git a/Gems/Atom/Asset/ImageProcessingAtom/Code/imageprocessing_files.cmake b/Gems/Atom/Asset/ImageProcessingAtom/Code/imageprocessing_files.cmake
index e8bc033f08..55ccdf1d89 100644
--- a/Gems/Atom/Asset/ImageProcessingAtom/Code/imageprocessing_files.cmake
+++ b/Gems/Atom/Asset/ImageProcessingAtom/Code/imageprocessing_files.cmake
@@ -129,6 +129,8 @@ set(FILES
     Source/Compressors/CryTextureSquisher/ColorBlockRGBA4x4s.h
     Source/Compressors/CryTextureSquisher/ColorBlockRGBA4x4c.h
     Source/Compressors/CryTextureSquisher/ColorTypes.h
+    Source/Compressors/ISPCTextureCompressor.cpp
+    Source/Compressors/ISPCTextureCompressor.h
     Source/Thumbnail/ImageThumbnail.cpp
     Source/Thumbnail/ImageThumbnail.h
     Source/Thumbnail/ImageThumbnailSystemComponent.cpp
diff --git a/cmake/3rdParty/Platform/Linux/BuiltInPackages_linux.cmake b/cmake/3rdParty/Platform/Linux/BuiltInPackages_linux.cmake
index 7df364121b..ba63ef5d64 100644
--- a/cmake/3rdParty/Platform/Linux/BuiltInPackages_linux.cmake
+++ b/cmake/3rdParty/Platform/Linux/BuiltInPackages_linux.cmake
@@ -9,7 +9,6 @@
 # shared by other platforms:
 ly_associate_package(PACKAGE_NAME ilmbase-2.3.0-rev4-multiplatform                  TARGETS ilmbase                     PACKAGE_HASH 97547fdf1fbc4d81b8ccf382261f8c25514ed3b3c4f8fd493f0a4fa873bba348)
 ly_associate_package(PACKAGE_NAME assimp-5.0.1-rev11-multiplatform                  TARGETS assimplib                   PACKAGE_HASH 1a9113788b893ef4a2ee63ac01eb71b981a92894a5a51175703fa225f5804dec)
-ly_associate_package(PACKAGE_NAME squish-ccr-20150601-rev3-multiplatform            TARGETS squish-ccr                  PACKAGE_HASH c878c6c0c705e78403c397d03f5aa7bc87e5978298710e14d09c9daf951a83b3)
 ly_associate_package(PACKAGE_NAME ASTCEncoder-2017_11_14-rev2-multiplatform         TARGETS ASTCEncoder                 PACKAGE_HASH c240ffc12083ee39a5ce9dc241de44d116e513e1e3e4cc1d05305e7aa3bdc326)
 ly_associate_package(PACKAGE_NAME md5-2.0-multiplatform                             TARGETS md5                         PACKAGE_HASH 29e52ad22c78051551f78a40c2709594f0378762ae03b417adca3f4b700affdf)
 ly_associate_package(PACKAGE_NAME RapidJSON-1.1.0-rev1-multiplatform                TARGETS RapidJSON                   PACKAGE_HASH 2f5e26ecf86c3b7a262753e7da69ac59928e78e9534361f3d00c1ad5879e4023)
@@ -45,5 +44,7 @@ ly_associate_package(PACKAGE_NAME DirectXShaderCompilerDxc-1.6.2104-o3de-rev3-li
 ly_associate_package(PACKAGE_NAME SPIRVCross-2021.04.29-rev1-linux                  TARGETS SPIRVCross                  PACKAGE_HASH 7889ee5460a688e9b910c0168b31445c0079d363affa07b25d4c8aeb608a0b80)
 ly_associate_package(PACKAGE_NAME azslc-1.7.23-rev2-linux                           TARGETS azslc                       PACKAGE_HASH 1ba84d8321a566d35a1e9aa7400211ba8e6d1c11c08e4be3c93e6e74b8f7aef1)
 ly_associate_package(PACKAGE_NAME zlib-1.2.11-rev1-linux                            TARGETS zlib                        PACKAGE_HASH 6418e93b9f4e6188f3b62cbd3a7822e1c4398a716e786d1522b809a727d08ba9)
+ly_associate_package(PACKAGE_NAME squish-ccr-deb557d-rev1-linux                     TARGETS squish-ccr                  PACKAGE_HASH 85fecafbddc6a41a27c5f59ed4a5dfb123a94cb4666782cf26e63c0a4724c530)
+ly_associate_package(PACKAGE_NAME ISPCTexComp-36b80aa-rev1-linux                    TARGETS ISPCTexComp                 PACKAGE_HASH 065fd12abe4247dde247330313763cf816c3375c221da030bdec35024947f259)
 
            
diff --git a/cmake/3rdParty/Platform/Linux/squish-ccr_linux.cmake b/cmake/3rdParty/Platform/Linux/squish-ccr_linux.cmake
deleted file mode 100644
index 80a0776765..0000000000
--- a/cmake/3rdParty/Platform/Linux/squish-ccr_linux.cmake
+++ /dev/null
@@ -1,9 +0,0 @@
-#
-# Copyright (c) Contributors to the Open 3D Engine Project.
-# For complete copyright and license terms please see the LICENSE at the root of this distribution.
-#
-# SPDX-License-Identifier: Apache-2.0 OR MIT
-#
-#
-
-set(SQUISH-CCR_LIBS ${BASE_PATH}/lib/Linux/Release/libsquish-ccr.a)
\ No newline at end of file
diff --git a/cmake/3rdParty/Platform/Mac/BuiltInPackages_mac.cmake b/cmake/3rdParty/Platform/Mac/BuiltInPackages_mac.cmake
index 353956a495..be89612c1b 100644
--- a/cmake/3rdParty/Platform/Mac/BuiltInPackages_mac.cmake
+++ b/cmake/3rdParty/Platform/Mac/BuiltInPackages_mac.cmake
@@ -9,7 +9,6 @@
 # shared by other platforms:
 ly_associate_package(PACKAGE_NAME ilmbase-2.3.0-rev4-multiplatform                  TARGETS ilmbase                     PACKAGE_HASH 97547fdf1fbc4d81b8ccf382261f8c25514ed3b3c4f8fd493f0a4fa873bba348)
 ly_associate_package(PACKAGE_NAME assimp-5.0.1-rev11-multiplatform                  TARGETS assimplib                   PACKAGE_HASH 1a9113788b893ef4a2ee63ac01eb71b981a92894a5a51175703fa225f5804dec)
-ly_associate_package(PACKAGE_NAME squish-ccr-20150601-rev3-multiplatform            TARGETS squish-ccr                  PACKAGE_HASH c878c6c0c705e78403c397d03f5aa7bc87e5978298710e14d09c9daf951a83b3)
 ly_associate_package(PACKAGE_NAME ASTCEncoder-2017_11_14-rev2-multiplatform         TARGETS ASTCEncoder                 PACKAGE_HASH c240ffc12083ee39a5ce9dc241de44d116e513e1e3e4cc1d05305e7aa3bdc326)
 ly_associate_package(PACKAGE_NAME md5-2.0-multiplatform                             TARGETS md5                         PACKAGE_HASH 29e52ad22c78051551f78a40c2709594f0378762ae03b417adca3f4b700affdf)
 ly_associate_package(PACKAGE_NAME RapidJSON-1.1.0-rev1-multiplatform                TARGETS RapidJSON                   PACKAGE_HASH 2f5e26ecf86c3b7a262753e7da69ac59928e78e9534361f3d00c1ad5879e4023)
@@ -43,3 +42,6 @@ ly_associate_package(PACKAGE_NAME OpenSSL-1.1.1b-rev1-mac
 ly_associate_package(PACKAGE_NAME qt-5.15.2-rev5-mac                                TARGETS Qt                          PACKAGE_HASH 9d25918351898b308ded3e9e571fff6f26311b2071aeafd00dd5b249fdf53f7e)
 ly_associate_package(PACKAGE_NAME libsamplerate-0.2.1-rev2-mac                      TARGETS libsamplerate               PACKAGE_HASH b912af40c0ac197af9c43d85004395ba92a6a859a24b7eacd920fed5854a97fe)
 ly_associate_package(PACKAGE_NAME zlib-1.2.11-rev1-mac                              TARGETS zlib                        PACKAGE_HASH 7fd8a77b3598423d9d6be5f8c60d52aecf346ab4224f563a5282db283aa0da02)
+ly_associate_package(PACKAGE_NAME squish-ccr-deb557d-rev1-mac                       TARGETS squish-ccr                  PACKAGE_HASH 155bfbfa17c19a9cd2ef025de14c5db598f4290045d5b0d83ab58cb345089a77)
+ly_associate_package(PACKAGE_NAME ISPCTexComp-36b80aa-rev1-mac                      TARGETS ISPCTexComp                 PACKAGE_HASH 8a4e93277b8face6ea2fd57c6d017bdb55643ed3d6387110bc5f6b3b884dd169)
+
diff --git a/cmake/3rdParty/Platform/Mac/squish-ccr_mac.cmake b/cmake/3rdParty/Platform/Mac/squish-ccr_mac.cmake
deleted file mode 100644
index 740e630570..0000000000
--- a/cmake/3rdParty/Platform/Mac/squish-ccr_mac.cmake
+++ /dev/null
@@ -1,9 +0,0 @@
-#
-# Copyright (c) Contributors to the Open 3D Engine Project.
-# For complete copyright and license terms please see the LICENSE at the root of this distribution.
-#
-# SPDX-License-Identifier: Apache-2.0 OR MIT
-#
-#
-
-set(SQUISH-CCR_LIBS ${BASE_PATH}/lib/Mac/Release/libsquish-ccr.a)
\ No newline at end of file
diff --git a/cmake/3rdParty/Platform/Windows/BuiltInPackages_windows.cmake b/cmake/3rdParty/Platform/Windows/BuiltInPackages_windows.cmake
index 2aded62bcd..2655b7247f 100644
--- a/cmake/3rdParty/Platform/Windows/BuiltInPackages_windows.cmake
+++ b/cmake/3rdParty/Platform/Windows/BuiltInPackages_windows.cmake
@@ -9,7 +9,6 @@
 # shared by other platforms:
 ly_associate_package(PACKAGE_NAME ilmbase-2.3.0-rev4-multiplatform                      TARGETS ilmbase                     PACKAGE_HASH 97547fdf1fbc4d81b8ccf382261f8c25514ed3b3c4f8fd493f0a4fa873bba348)
 ly_associate_package(PACKAGE_NAME assimp-5.0.1-rev11-multiplatform                      TARGETS assimplib                   PACKAGE_HASH 1a9113788b893ef4a2ee63ac01eb71b981a92894a5a51175703fa225f5804dec)
-ly_associate_package(PACKAGE_NAME squish-ccr-20150601-rev3-multiplatform                TARGETS squish-ccr                  PACKAGE_HASH c878c6c0c705e78403c397d03f5aa7bc87e5978298710e14d09c9daf951a83b3)
 ly_associate_package(PACKAGE_NAME ASTCEncoder-2017_11_14-rev2-multiplatform             TARGETS ASTCEncoder                 PACKAGE_HASH c240ffc12083ee39a5ce9dc241de44d116e513e1e3e4cc1d05305e7aa3bdc326)
 ly_associate_package(PACKAGE_NAME md5-2.0-multiplatform                                 TARGETS md5                         PACKAGE_HASH 29e52ad22c78051551f78a40c2709594f0378762ae03b417adca3f4b700affdf)
 ly_associate_package(PACKAGE_NAME RapidJSON-1.1.0-rev1-multiplatform                    TARGETS RapidJSON                   PACKAGE_HASH 2f5e26ecf86c3b7a262753e7da69ac59928e78e9534361f3d00c1ad5879e4023)
@@ -51,3 +50,5 @@ ly_associate_package(PACKAGE_NAME civetweb-1.8-rev1-windows
 ly_associate_package(PACKAGE_NAME OpenSSL-1.1.1b-rev2-windows                           TARGETS OpenSSL                     PACKAGE_HASH 9af1c50343f89146b4053101a7aeb20513319a3fe2f007e356d7ce25f9241040)
 ly_associate_package(PACKAGE_NAME Crashpad-0.8.0-rev1-windows                           TARGETS Crashpad                    PACKAGE_HASH d162aa3070147bc0130a44caab02c5fe58606910252caf7f90472bd48d4e31e2)
 ly_associate_package(PACKAGE_NAME zlib-1.2.11-rev1-windows                              TARGETS zlib                        PACKAGE_HASH 6fb46a0ef8c8614cde3517b50fca47f2a6d1fd059b21f3b8ff13e635ca7f2fa6)
+ly_associate_package(PACKAGE_NAME squish-ccr-deb557d-rev1-windows                       TARGETS squish-ccr                  PACKAGE_HASH 5c3d9fa491e488ccaf802304ad23b932268a2b2846e383f088779962af2bfa84)
+ly_associate_package(PACKAGE_NAME ISPCTexComp-36b80aa-rev1-windows                      TARGETS ISPCTexComp                 PACKAGE_HASH b6fa6ea28a2808a9a5524c72c37789c525925e435770f2d94eb2d387360fa2d0)
diff --git a/cmake/3rdParty/Platform/Windows/squish-ccr_windows.cmake b/cmake/3rdParty/Platform/Windows/squish-ccr_windows.cmake
deleted file mode 100644
index fb94cb6969..0000000000
--- a/cmake/3rdParty/Platform/Windows/squish-ccr_windows.cmake
+++ /dev/null
@@ -1,9 +0,0 @@
-#
-# Copyright (c) Contributors to the Open 3D Engine Project.
-# For complete copyright and license terms please see the LICENSE at the root of this distribution.
-#
-# SPDX-License-Identifier: Apache-2.0 OR MIT
-#
-#
-
-set(SQUISH-CCR_LIBS ${BASE_PATH}/lib/Windows/Release/squish-ccr.lib)
\ No newline at end of file