Canon India banks on booming wedding and surveillance segments demand to power imaging business
Canon India’s Growth Strategy: Wedding Photography and Surveillance Drive Imaging Business
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Canon India targets double-digit year-on-year growth across key business verticals, with wedding photography contributing 60% to camera business revenue and surveillance systems showing remarkable growth.
Current Performance and Growth Drivers
Under the leadership of President & CEO Toshiaki Nomura, Canon India is experiencing robust growth across multiple segments. The company’s performance is particularly strong in key areas:
Key Growth Metrics
- Wedding segment: 60% contribution to camera business revenue
- Network Video Surveillance (NVS): 45% growth in 2024
- Consumer printers: 15% growth in 2024
- Targeting double-digit YoY growth for next 5 years
Business Segments and Expansion
Canon India maintains a balanced portfolio across both consumer and business segments:
Revenue Distribution
- B2C Segment (50% of revenue):
- Professional and consumer cameras
- Home printing solutions
- B2B Segment (50% of revenue):
- Multifunction office printers
- Large-scale production printers
- Surveillance systems
The North Star initiative targets specialized sectors including education, media houses, podcast production, and 3D capture studios, strengthening Canon’s B2B presence.
Future Initiatives
Canon India is strategically positioning itself in emerging sectors with high growth potential:
Strategic Focus Areas
- Healthcare Imaging:
- Long-term growth potential identified
- Significant market presence expected in 5-10 years
- Semiconductor Manufacturing:
- Planning equipment supply for chip manufacturers
- Service facility establishment in discussion
- Alignment with government’s semiconductor push
Indian Market Potential
Toshiaki Nomura emphasizes India’s significance as one of Canon’s most important global markets, citing several key factors:
Market Growth Drivers
- Rapidly growing economy
- Large population base
- Expanding middle-income segment
- Accelerating urbanization in tier-2, -3, and -4 cities
- Ongoing infrastructure development
The company’s optimistic outlook is supported by India’s comprehensive development across various sectors and regions, creating multiple growth opportunities for Canon’s diverse product portfolio.
Published on May 4, 2025
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