The organization responsible for the development of jpeg comes with a new format: jpeg XS. This is mainly suitable for streaming video, but also for virtual reality content.
Where the original jpeg format is primarily intended to store images on carriers with a limited amount of memory, the new XS format intended for streaming. The organization behind the file format states that the lag in streaming video and virtual reality can be reduced by encoding material with jpeg XS, because the new encoding process has been made more efficient. However, the final files are larger than with the standard jpeg-coding, but that does not have to be a problem with streaming, according to the developers.
The European space agency ESA would have shown interest in jpeg XS. The more efficient compression could provide a solution for space probes, where photographs have to be taken with relatively little energy. Of course, this has the consequence that images with a larger size have to be sent back to earth.
Last year Google came up with a new way of compression on jpeg files that converts images on the web to a third smaller without visible loss of quality. Because of the smaller files, websites have to load faster.