MPEG-5 will be a video coding standard to address business and technology needs in use cases that are not well served by existing ISO standards, such as HEVC.
The goal is to develop a new video coding standard that meets a combination of business and technology requirements:
- a Baseline profile containing technologies which are over 20 years old or which are accompanied only by Type 1 IPR declarations
- a Main profile containing a small number of additional tools, each of which is capable of being cleanly switched off or switched over to Baseline tools on an individual basis
- Encouragement of the timely publication of licensing terms\
- Coding efficiency at least as good as that of HEVC\
- Complexity suitable for real time encoding and decoding
In particular Part 2 of ISO/IEC 23094 which is called “Low Complexity Enhancement Video Coding (MPEG-5 Part 2 LCEVC)” provides a standardized video coding solution that leverages other video codecs in a manner that improves video compression efficiency while maintaining or lowering the overall encoding and decoding complexity.