Here is an excerpt from a Google Research Blog on our Video Stabilization on YouTube. Now even more improved.
One thing we have been working on within Research at Google is developing methods for making casual videos look more professional, thereby providing users with a better viewing experience. Professional videos have several characteristics that differentiate them from casually shot videos. For example, in order to tell a story, cinematographers carefully control lighting and exposure and use specialized equipment to plan camera movement.
We have developed a technique that mimics professional camera moves and applies them to videos recorded by handheld devices. Cinematographers use specialized equipment such as tripods and dollies to plan their camera paths and hold them steady. In contrast, think of a video you shot using a mobile phone camera. How steady was your hand and were you able to anticipate an interesting moment and smoothly pan the camera to capture that moment? To bridge these differences, we propose an algorithm that automatically determines the best camera path and recasts the video as if it were filmed using stabilization equipment.