Absolutely not.
Picture compression is a method to store image in a smaller file size.
While picture resize is a method to make image dimension (width or height) smaller or larger.

It's true that smaller image dimension can reduce the file size as well. But smaller image also means losing your image details and clarity.

So, it all depends on your need. If you want to keep all the detail of your image, you need an image compressor, not an image resizer. But if you are willing to lose some details, and shrink the image dimension, you can make smaller image dimension, and then further compress it.

Luckily, Image Compressor supports them both. Whether you want to compress, resize or resize then compress - all can be done individually or in batch mode for speedy and hassle-free solution.

If Small Image Dimension Is Acceptable, Why Digital Cameras Megapixel Ever Growing?

Good question.
It's human nature that everyday we want to have better quality on everything. For imaging and photography that means better detail, color and sharpness. And that means the megapixel has to be increased.
More megapixels means larger file size, and larger image dimension too.
And that's why Image Compressor is for you.

As the general rule of thumb:
Always buy and use the largest megapixel camera you can, and later you can shrink and compress the photos for your particular needs.