Latest Progress of Video Compression Technology in 2023

What is the latest progress in video compression technology in 2023?

Video compression technology is the process of reducing the size of video files without compromising their quality or content. Video compression is essential for the efficient transmission and storage of video data, especially for streaming applications that require low latency and high bandwidth. Video compression technology has been evolving rapidly in recent years, thanks to the advances in artificial intelligence (AI) and machine learning (ML).

One of the most notable developments in video compression technology in 2023 is the acquisition of WaveOne by Apple. WaveOne was a startup that developed AI-powered video compression algorithms that could achieve up to a 50% reduction in file size compared to conventional methods. WaveOne’s technology uses content-aware techniques to prioritize the most critical elements in a video frame, such as faces or actions, and reduce the details of less relevant parts. WaveOne claimed that its technology was hardware-agnostic and could run on any device or platform without requiring new chips or hardware.

Apple’s acquisition of WaveOne suggests that the tech giant is interested in improving its video streaming services, such as Apple TV+, Apple Music, and FaceTime, by using AI-based video compression. This could enhance the user experience by delivering higher-quality video with lower bandwidth consumption and faster loading times. Apple could also leverage WaveOne’s technology to optimize its video editing and creation tools, such as iMovie, Final Cut Pro, and Clips, by enabling faster rendering and exporting of videos.

Image Credits: Lauren DeCicca / Stringer / Getty Images

Another notable development in video compression technology in 2023 is the launch of H.266/VVC (Versatile Video Coding) standard by the Moving Picture Experts Group (MPEG). H.266/VVC is the successor of H.265/HEVC (High-Efficiency Video Coding), which is currently the most widely used video compression standard for 4K and 8K videos. H.266/VVC promises to reduce the file size of 4K and 8K videos by half compared to H.265/HEVC while maintaining the same level of quality. H.266/VVC also supports new features such as 360-degree video, HDR (High Dynamic Range), and multi-view video.

H.266/VVC is expected to revolutionize the video industry by enabling more efficient delivery and consumption of ultra-high-definition videos across various platforms and devices. H.266/VVC could also facilitate the adoption of emerging technologies such as virtual reality (VR), augmented reality (AR), and mixed reality (MR), which require high-resolution and immersive video content. However, H.266/VVC also faces challenges, such as high computational complexity, patent licensing issues, and compatibility with existing hardware and software.

In conclusion, video compression technology is undergoing significant changes in 2023, driven by the increasing demand for high-quality and low-latency video streaming services. AI-based video compression algorithms, such as WaveOne’s technology acquired by Apple, offer a new way of optimizing video files based on their content and context. Meanwhile, H.266/VVC standard offers a new way of encoding and decoding video files based on their resolution and features. These developments could have a profound impact on the future of video production, distribution, and consumption.