With brand image playing a critical role in the rise and fall of businesses, advertising production services has emerged as a vibrant market that promises enterprises a bright future. Valued at $39.3 billion in 2015, this is one service industry that is set to expand and grow in the forthcoming years. Market analysts at Technavio expect the global advertising production services market to register a CAGR of more than 6% by 2020.
Advertising is, without a doubt, a creative space. A lot goes into establishing the best advertising solution – from storyboarding to casting to shooting, to editing and making use of the best technical tools. Thus it goes without saying that innovation is one of the major drivers of this industry. The advertising industry began with audio-video mixing tools, and rolling cameras saw a major increase with the evolution of computer technologies, animation software and digital cameras. Additionally, advanced animation and editing software has made it easier to simulate real life scenarios in video advertisements. Among other innovations in the industry, VFX technology and digital sculpting tools have already raised the bar for creative advertising production services.
VFX technology deals with the creation of visual effects in videos. Regarded as one of the latest technological innovations in advertising production, VFX makes use of computer-generated imagery to create user-friendly animation. This technology is categorized into animation, compositing, rigging, matte painting and texturing, and is being used extensively by organizations to create backgrounds or images that are difficult to capture on camera. MJZ and Phenomena are some of the major suppliers who are employing this technology.
Digital sculpting is yet another technological innovation that has had a major effect on the advertising production services market. Digital sculpting tools make use of modern technologies and programs to create real and high-quality sculptures through normal primitives such as spheres and boxes. These tools help create and modify 3D geometry and textures of pictures. Unlike traditional sculpting methods, this method provides a great deal of opportunity for improvement and innovation. Zbrush, Mudbox, Sculptris, 3D Coat, and Geomagic Freeform are some of the popular and highly efficient digital sculpting tools.
Apart from these two technological innovations, high-resolution cameras as well as editing software also play a critical role in the advertising production industry. Regularly used by RSA and 1stAveMachine, high resolution cameras display intricate details of images on high-resolution TVs or monitors. They also help in reducing noise in images or videos via down sampling or resampling. Canon 60D is one such camera that has high resolution and provides clear, HD quality videos. Additionally, editing software such as FCP helps advertisements look more effective by enabling changes in photo, audio, video, CD and DVD labels, and graphics, as well as 3D models.
In spite of some incredible innovations taking place, the advertising production industry faces challenges, as production budgets have decreased significantly over the past few years. The industry is also struggling due to a lack of skilled resources. This is not just a regional phenomenon; at the global level, there is a scarcity of animation and videography experts. With easy access to high-quality cameras and the latest technologies, several new players have joined the industry, leading to intensified competition.
Therefore, even though the latest technology has fueled innovation, it has also contributed to a lowering of profit margins.
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