In fact, another very viable option would be JPEG XL, which has a couple of benefits over AVIF:
- Transcode JPEG images without loss of quality
- Much faster encoding/deciding speed
- Larger image dimension supported (AVIF only 8k x 4k)
with the same benefits as AVIF: Royalty-free, Much better compression than 'old' standards, more feature complete.
And the standard was succesfully finallized now.
One thing that comes to mind, which could be beneficial for AVIF is that the hardware encoders/decoders are much more matured and will probably be on most CPUs within the next 2 years. No such thing with JPEG XL yet.