The HDV format was developed by JVC and Sony with Both Canon and Sharp Supporting the format.
HDV is an inexpensive high-definition video recording format which uses MPEG2 compression to fit HD content onto the same MiniDV. Recording times for HDV are identical to DV -- a 60 minute MiniDV cassette can store 60 minutes of either DV or HDV footage. As of yet, no HDV cameras can record HDV at LP due to dropout issues.
HDV Camcorders are now sold to the mass market as well as its initial market, the video production. Prosumer models are designed for individuals and organizations specifically interested in video production, and are generally sold to amateur videographers, local production and marketing agencies.
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Hi-Def Media 
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