Japanese imaging product major Canon is looking to widen presence in non-metros in India and betting on its medical imaging systems and security and surveillance camera products for expansion in the next 10 years.
Cannon, which has acquired Sweden's Axis Communications to expand into video surveillance, expects that it would play a big role in this segment along with its Milestone Systems, a provider of open platform video management software.
Besides, the company, which is celebrating its 20th anniversary in India, is targeting around Rs 3,500 crore sales by 2020, and has plans to expand its presence in the non-metro places by adding 100 more 'Canon Image Square' shops by 2019 taking its total count to 360.
"Our new area of domain which we recently acquired is in the medical products and in security and surveillance cameras. Hopefully these two areas will also have expansion in this country in coming ten years time," Canon India President and CEO Kazutada Kobayashi told PTI.
He further added: "We have already acquired Swedish firm Axis Communications in our group... Also with software company Milestone, which has software to control surveillance camera system, with this tie up, we have a chance to come in this market."
Canon, world leader in imaging solutions, has acquired Denmark-based Milestone Systems, a world leading provider of open platform video management software through its subsidiary Canon Europa NV.
Presently, the security and surveillance cameras system market is dominated by Chinese and Taiwanese players.
"Off course Chinese brands are very strong on the bottom line and mid to below but we are not in that area. But in mid to high, quantity might be smaller but the quality required is very high and we would be there," Kobayashi said.
Presently, India is contributing around 1.2 to 1.5 per
cent to the Canon's global sales and Kobayashi is expecting this to increase in coming years.
"At Canon, we are embracing the challenge of new growth through a grand strategic transformation. India is a key market in Canon's global development... I am confident that India, as a market, will be a vital contributor to this future success," said Noriko Gunji, President & CEO, Canon Singapore (Regional headquarters of South and Southeast Asia).
Continuing a year on year growth of 9 per cent, Canon which is present in printers and imaging products business, closed 2016 with revenues of Rs 2,348.6 crore.
"The company in the next three years, aims to penetrate further in the country with its offerings, augment the photography culture in India and introduce technological advancements across business and consumer products," it said.
The company is expanding the number of its Canon Image Square to 360 by 2019, which retail its camera business and range of printers and projectors.
It would be on franchisee model and help Canon India to tap into small cities and towns.
