A new group will establish the VCM standard. Patrick Dong of Gyrfalcon Technology was appointed as the Co-Chair of the new group, with Yuan Zhang, of China Telecom, who was appointed as the Chair of the new group. Together they will lead VCM group to establish a new video codec standard that will improve the previous generation video coding and decoding standard H.26x.
According to sources at China Telecom, they will rapidly promote this new VCM standard, develop chips based on it and deepen the application for its broad use in the Internet of Things ecosystem.
There is a growing awareness that the majority of video traffic will be used by machines. According to recent information published by Cisco in 2018, Machine-to-Machine applications will represent the greatest usage of Internet video traffic over the next four years. This means that optimizing video data for machine use will be a key driver for commercializing new solutions and enabling mass adoption and innovation.
This is a critical step for many industries, as for more than 40 years, MPEG has taken the global lead in producing mainstream digital media standards and enabled the development and success of digital media products, services and applications. From inception, MPEG has spawned nearly 180 standards, including the well known, H.264 (AVC), H.265 (HEVC) and H.266 (VVC) (under development, launched in 2020) standards. The value generated by these essential MPEG standard patents with core codecs is quite high.