MPEG-2 is a digital video compression standard developed by the Moving Picture Experts Group. It is widely used for encoding video and audio in formats such as DVDs and digital television broadcasts. By reducing the file size while maintaining quality, MPEG-2 allows for efficient storage and transmission of multimedia content. This standard supports various resolutions and bit rates, making it versatile for different applications. It uses techniques like inter-frame and intra-frame compression to minimize redundancy in video data. Overall, MPEG-2 has played a significant role in the evolution of digital media and broadcasting technologies.