Digital videos consists major applications in today's world, like television broadcasting, multimedia and gaming. An uncompressed video of normal as well as high definition requires large amount of bandwidth in gigabytes. Video compression techniques have got immense interest which has led to efficient solutions for storage and transmission of video. With the age of parallel computing technology, the sequential computation algorithms can be converted in parallel computing algorithms. In the current decade, the GPUs (Graphics Processing Units) have proved as a very powerful and highly parallel processing environment.