LONDON — (BUSINESS WIRE) — January 31, 2017 — According to the latest procurement intelligence report from Technavio, the global advertising production services market is expected to grow at a CAGR of more than 6% over the next five years due to the increase in demand from APAC and Latin America.
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Technavio has published a new report on the global advertisement production services market from 2016-2020. (Graphic: Business Wire)
The research report titled ‘ Global Advertising Production Services: Procurement Intelligence Report 2016-2020’ provides an in-depth analysis of category spend, best procurement practices and cost saving opportunities, aimed at helping organizations achieve superior business performance. The report also provides insights on pricing, supplier positioning and top companies, enabling sourcing professionals to improve their competitive advantage through procurement excellence.
“Demand for animated videos with visual effects, following advancements in animation technologies, is driving demand for the overall market,” says lead Technavio procurement expert, Angad Singh for category spend intelligence. “To ensure high quality of audio and video, suppliers need to use equipment such as lavalier microphones, digital recorders, external shotguns, and high-resolution cameras,” adds Angad.
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Cost saving opportunities in the advertising production services market
The adoption of various cost-optimization levers helps buyers of advertising production services realize direct cost savings and enhance category management and value benefits (including reduced procurement complexities).
Technavio procurement experts have segmented the cost saving opportunities in the advertising production services market into the following value-enhancement opportunities:
- Adoption of technology
- Supplier Competition
- Adoption of negotiation strategies
- Optimization of procurement practices
- Bundling of services
Adoption of technology saving aspects
Technologies such as high-resolution video cameras can capture clear images and help reduce background noise.
Sculpting tools are used to create and modify 3D geometry and textures of pictures, while VFX technology helps create visual effects in videos.
Buyers look to procure the most effective services at competitive prices. Therefore, suppliers must offer pricing models that provide benefits such as allowing them to pay only for services availed.
Suppliers are extremely competitive on the basis of price discounts and negotiations on licensing fees and post-production work such as editing, sound mixing, color filling, and retouching.
Bundling of services
The chances of the recorded data becoming corrupt or getting deleted are high during the digitization and editing phases of the advertisement production process. Hence, suppliers need to ensure that both the raw and edited data are securely delivered to buyers on DVDs, USB drives, or other suitable media without any distortion.
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