Generally IEEE Transactions don't announce the review time, unlike Elsevier journals, however the review process in IEEE Transactions on Image processing takes from two to four months to get first reply.
I occasionally review articles for this journal and the time frame given to us as reviewers to return our comments (for the 1st round review) is 4 weeks. I know that not all reviewers commit themselves to this deadline but that is what is communicated to us via the IEEE TIP.
If paper is accepted in the first round (which is not usual), it may take between 2-3 months. If, on the other hand, your paper gets conditional acceptance (i.e. major revision), you should add around two more months. For minor revision times is not that long and it will normally depend how much time you spend on correcting your minor changes.