The transcoding of video data remotely in the cloud is experiencing signifcant growth that is driven by a variety of cloud video applications. As a result, there is a pressing need for a video coding technology that enables encoders to address the many transcoding requirements of such video applications. Scalable Video Technology (SVT) is a software-based video coding technology that allows ...encoders to achieve, on Intel® Xeon® Scalable processors, the best possible tradeoﬀs between performance, latency, and visual quality. SVT also allows encoders to scale their performance levels, given the quality and latency requirements of the target applications. The efciency and scalability of SVT are enabled through mainly architectural and algorithmic features, and via specific optimizations for the Intel Xeon Scalable processor. All SVT encoders are made available to the open source community via a highly permissive Open Source Initiative (OSI) approved BSD+Patent license, allowing adopters to reduce the time-to-market and cost of ownership of each of their SVT-enabled cloud video transcoding solutions. This paper explains the benefts and features of SVT, and it also presents some results that illustrate the performance quality tradeoﬀs of two SVT encoders: SVT-HEVC and SVT-AV1.