Japanese imaging products major Canon is expecting a robust growth in India, one of its top five markets for DSLR cameras, on account of its entry into newer segments and introduction of advanced technologies, a top company official has said.
The company is exploring new opportunities in business segments like security cameras through its group firm Axis Communications and in health sector with its range of diagnostic medical imaging solutions.
“Canon Inc, Tokyo is expecting very rapid growth of the Indian market in terms of photography backed by population growth and economic growth and future development of the photo industry. Our expectation to Indian market is quite significant,” Yoshiyuki Mizoguchi, Group Executive - ICB Products Group, Canon Inc, told.
Presently, India is among top five markets for Canon along with the US, China, Japan and Germany.
Canon India, which is eyeing a turnover of Rs 13,500 crore in annual sales by FY 2020, is expecting a sustained growth in both B2B and B2C segments.
According to Canon India President and CEO Kazutada Kobayashi, the group is already present in the rapidly growing security camera market through group firm Axis Communications, which is gradually expanding its portfolio here.
“We are covering more high end products... Quality wise, we are a leading player in the world,” Kobayashi said.
Canon is also exploring opportunities in semiconductor business in India.
