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Canon aims to generate US$10 billion by 2020 within Asian markets

By Liu Hongzuo - on 19 May 2016, 6:37pm

Canon aims to generate US$10 billion by 2020 within Asian markets

Hideki Ozawa, President of Canon Asia Marketing Group, announcing his aim of bringing in US$10 billion for Canon by 2020, through Asian markets.

The imaging industry may be in a  lackluster position as of late, but that has not stopped Canon from projecting an ambitious goal of achieving US$10 billion in revenue by 2020, within Asia alone. A keynote given at the Canon Expo 2016 Shanghai by Hideki Ozawa, President of Canon Asia Marketing Group, listed the following strategies together with sparse details on expanding Canon's reach within Asia.


Creating new customers

Canon will be analyzing the Asian market with a keen eye, and the Japanese imaging titan has singled out segmented markets to focus on, namely females, senior citizens, and tourists. "It is our fundamental task to make non-camera users see the value of photographic equipment, and develop them into camera users," said Mr. Hideki.

To spur non-camera users into utilizing cameras, Canon will be revamping their online service programs by launching new services in China, before expanding these services to other Asian cities. According to Canon, the new online service is aimed to inspire Internet-savvy folks to become more interested in "better" photography (at a tier higher than smartphone photography, going by Canon's examples).


Cultivation and development of emerging Asian markets

In order to reach out to more users, Canon will build upon existing Canon Image Squares found in various Asian cities such as Thailand and Vietnam. Canon Image Squares generally work as a point of communication between product users and Canon products within well-developed cities.

As such, Canon will set up more of these communication points in downtown areas within rural cities. For example, they will reach out to "tier three to tier six" markets within China via the use of roadshows and caravans.

Canon will be also be integrating new markets by including a point of distribution via online services and programs. By setting up their own online e-commerce program, the company will effectively increase the number of existing distribution channels while increasing the opportunity for face-to-face activities.


Expanding scope of B2B products

To tap into more B2B channels, Canon will continue to expand their current and new office multifunctional devices, commercial printing products, and office printers. Canon will also reinforce their end-user office solutions and services. The imaging company will also focus on promoting new and existing medical equipment, as well as providing imaging products within the security business with the addition of mainstream security camera products and solutions.


Other predictions

"By 2020, the overall GDP growth rate of Asian countries will stabilize at 5 percent, with China at 6 percent, and India at 7 percent. They are much higher than Japan's, the USA's and Europe's (GDP)," said Mr. Hideki. The projected numbers are also attributed to major upcoming events within Asia, such as the Tokyo Olympics in 2020. The boost in business opportunities and development within Asia will help the region generate more business via the tourism industry.

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