MATLAB Learn How to Efficiently Compress Color Images with SVD in Matlab

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Resources for compressing color images using Singular Value Decomposition (SVD) in Matlab are limited, with many tutorials focusing on grayscale images. A color image can be treated as three separate grayscale matrices corresponding to the RGB channels. Users can apply SVD compression techniques to each of these matrices individually. This approach allows for effective compression while retaining color information. Efficiently compressing color images with SVD in Matlab is feasible by handling each channel separately.
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Are there any resources which use Matlab to image compress a colour image using SVD? I can only find information where I need to convert to gray scale first.
 
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A color image is essentially 3 grayscale images, right? Can you just compress each of the three matrices individually using the methods available for grayscale images?
 

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