In our work, we present wavelet based video compression algorithms. The motion estimation and compensation, which is an essential part in compression, is based on segment movements. The proposed work based on wavelet transform algorithm like Set Partitioning In Hierarchical Trees (SPIHT) and Discrete Wavelet Transform (DWT). Results of average value of Peak Signal to Noise Ratio (PSNR), Mean Squared Error (MSE) and comparison chart is obtained using MATLAB. The proposed SPIHT and SWT algorithm achieves very good PSNR values, and MSE which makes the techniques more efficient than the 2D Discrete Cosine Transform (DCT) in the H.264/AVC codec.