Three names you can’t avoid in OTT delivery — and a lot of confusion about which you actually need. Here’s the operator’s version, without the standards-body jargon.

All three are ways of chopping a stream into segments and describing them so a player can adapt quality on the fly. The differences are about who supports them and how much duplicate work they force on you.
Before CMAF, reaching both Apple and non-Apple devices often meant two full sets of segments — double the packaging, double the storage, double the cache footprint. CMAF lets one set of fragmented-MP4 segments serve both, halving that overhead.
Your DRM choice ties in here: HLS traditionally leaned on FairPlay/AES, DASH on Widevine/PlayReady. CMAF with common encryption (CENC) lets one encrypted copy work across DRMs, which is the practical way to cover Apple and Android without re-encrypting.
Talk to a team that runs a live operator, not just sells software.