The camera you have is capable of three (3) different encoding formats


MJPEG:

When MJPEG is selected you are limited to a single stream; this is by far not the most efficient method of encoding and is used for some broadcast situations.


H.264

I would call this the current standard of efficiency and compatibility in encoding formats


H.265

This is brand new and is currently not supported by many systems however it is substantially more efficient than H.264 (Close to a 50% reduction in bandwidth)