The Alliance For Open Media "AOMedia" has officially released the AV2 v1.0 specification as this next-generation video coding standard that builds off the very popular AV1.
AV2 is summed up by AOMedia as:
"Building on the foundation of AV1, AV2 is engineered to provide superior compression efficiency, enabling high-quality video delivery at significantly lower bitrates. It is optimized for the evolving demands of streaming, broadcasting, and real-time video conferencing."
AV2 was already in development more than five years .
It will likely be a while before seeing new GPUs with built-in AV2 support while today AOMedia has their AOMedia Video Model (AVM) reference software. VideoLAN developers have been working on DAV2D as a CPU-based AV2 decoder .
The AV2 1.0 specification is available at av2.aomedia.org .