Abstract
The amount of video content and the number of applications based on multimedia information increase each day. The development of new video coding standards is a challenge to increase the compression rate and other important features with a reasonable increase in the computational load. The Joint Video Experts Team of the ITU-T Video Coding Experts Group and the ISO/IEC Moving Picture Experts Group (MPEG) have worked together to develop the versatile video coding standard, finalized in July 2020 as the International Standard 23090-3 (MPEG-I Part 3). This article overviews some interesting consumer electronic use cases, the compression tools described in the standard, the current available real-time implementations, and the first industrial trials done with this standard.
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