encoding.com is offering free H.265 HEVC cloud transcoding. Ok, its limited to only 1GB per month but, its near real time and there are plans that handle up to 500 concurrent input streams and at multi-terabyte levels. They will also host the video and deliver via akamai and others in the most efficient and optimized way possible.
I'm not sure it has a ready application in security even if was a free TB per month, because the latency is still too much for live, but maybe if part of a value added video services component, i.e., archiving, time-lapse, analytics it would have benefit. Pie in the sky or sauce in the sky?
You would think that the way its being commoditized like this, that camera supported HEVC en masse is just around the corner...