I. Introduction
Statistics show that Global video IP traffic will be 82 percent of all consumer Internet traffic by 2022, up from 75 percent in 2017. The annual global IP traffic will reach 4.8 ZB (ZB=1000 Exabytes) by 2022, 3.9 ZB of which will be video content [1]. Handling this enormous amount of data is a very challenging task for the video content providers in years to come. Another factor that highlights this problem is the fact that a range of different devices that can play video content is constantly growing. With such diversity of devices, that have different decoding capabilities, computing resources, network bandwidths, and resolutions, a single copy of the encoded video cannot match requirements of all devices.