In recent decades, video compression has become the primary focus of intensive studies. Besides there is a great development in video compression technique in these days; and this technique is used in large number of applications. Video compression techniques is used to reduce and remove the less important video data and so the digital video data will be sent effectively and received over a network and stored on computer disks. In this paper, the research is set out with an idea about various techniques available for video compression. Nowadays, numerous video compression techniques were introduced. Those are with significant compression techniques, a vita land the reduced file will be gained without any loss in effect in the visual quality. H.265/HEVC exhibits higher improvement in coding performance over its predecessors. These are both VCEG and MPEG articulating the next generation norms. The overview of the advancement of these next-generation video coding initiatives and current upcoming video coding techniques was provided in this research work. Several papers and research materials were published related to these subject and some of these are taken for this research study. This survey is conducted to define the different fundamental methods available for video compression; video compression techniques application strategies ; different generations; the upcoming video compression techniques and trends; various issues parallel with the emerging technologies.