Toshiaki Nomura, President & CEO, Canon India
Canon India is observing strong growth in wedding, surveillance and printing segments on demand from the wedding and surveillance segments to drive its imaging business in the country. The company aims to achieve double-digit year-on-year (y-o-y) growth across its key business verticals over the next 5 years, Toshiaki Nomura, President & CEO, Canon India told businessline.
The wedding segment alone contributes around 60 per cent to Canon’s overall camera business revenue, making it a critical growth driver.
Canon India operates across both B2C and B2B segments, with each contributing equally to its revenue. Its consumer-facing portfolio includes cameras and home printers, while its B2B offerings range from multifunction office printers to large-scale production printers.
The company is also observing growth in its surveillance category. The network video surveillance (NVS) division reported a 45 per cent growth in 2024 on-year. Similarly, consumer printers recorded a 15 per cent growth in 2024. To further strengthen its B2B play, Canon introduced the North Star initiative, which targets sectors such as education, media houses, podcast production, and 3D capture studios.
Healthcare, semiconductors
While the company’s healthcare business in India remains small, Nomura is confident of its long-term potential. “In the next 5-10 years, our presence in the Indian market will grow significantly,” he said.
Canon is also eyeing opportunities in India’s emerging semiconductor manufacturing ecosystem. “This is a completely new initiative in India. With the government’s push to bring in chip manufacturers, we plan to supply our equipment to help kickstart local production,” said Nomura. Canon is currently in discussions to set up a service facility to support chip manufacturers, but the timeline will depend on when these firms establish their factories.
India an important market
Nomura considers India to be one of Canon’s most important markets globally, citing its fast-growing economy, large population, growing middle-income segment, and rapid urbanisation, especially in tier-2, -3, and -4 cities. “All these infrastructure developments are contributing to the country’s overall potential,” he said.
Published on May 4, 2025