The origins of Canon date back to the founding of Precision Optical Instruments Laboratory in Japan in 1933 by Takeshi Mitarai, Goro Yoshida, Saburo Uchida and Takeo Maeda. It became the company Precision Optical Instruments, Co., Ltd. in 1937. For more than 75 years, Canon has been known for pioneering innovative imaging products. One of the world’s largest manufacturers of cameras, copiers, and printers, the company maintains its leadership position by continuously innovating new features and technologies.
This can only be achieved through a firm with extensive knowledge, experience, and innovative strategies. To determine the strengths of the company potential, weaknesses, opportunities, and threats, it is necessary to conduct a SWOT analysis by Canon.
Canon At A Glance – Canon SWOT Analysis
Company: Canon Inc.
Founders: Takeshi Mitarai | Saburo Uchida | Goro Yoshida | Takeo Maeda
Year of establishment: 10 August 1937, Tokyo, Japan
CEO: Fujio Mitarai
Headquarters: Ota City, Tokyo, Japan
Employees (Dec 2020): 2,04,132
Ticker Symbol: CAJ
Annual Revenue (Dec 2020): US30.39 Billion
Profit net income (Dec 2020): US$783 Million
Products & Services: Digital Production Printers | Large Format Printers | Commercial Printers | Multi-Functional Devices | Managed Document Services | Inkjet & Laser Printers
Company Website: global.canon
Top Canon Competitors
Competitors: Fujio Mitarai | Xerox | Ricoh | Konica Minolta | Sony | Nikon | Seiko Epson | ARC Document Solutions | Hewlett Packard Enterprise | Olympus Corporation | Leica Camera | ASML Holding | Go-Pro Inc | Casio | Pentax | Panasonic | KODAK
Canon SWOT Analysis – SWOT Analysis Of Canon
SWOT Analysis Of Canon analyzes the brand based on its strengths weak points, weaknesses, opportunities, and threats. With Canon SWOT Analysis it is clear that the advantages and disadvantages are internal factors, while threats and opportunities are external elements. Here we are going to talk about Canon SWOT Analysis. Below Is The Detailed SWOT Analysis Of Canon.
Canon Strengths – Canon SWOT Analysis
1. A robust product Portfolio: Canon has diverse consumer offerings that are that differ in the different consumer segments. The product portfolio is broad and includes laser printers, office MFDs laser MFPs, laser production printers and more. The wide range of products lets the company concentrate on particular segments and minimizes the risk of being too dependent on a single segment.
2. A broad and diverse production processes: Canon has focused on manufacturing in-house facilities in its diverse markets across the globe. Apart from Japan, Canon has manufacturing factories in 18 countries. This helps them improve quality and lower costs. It also increases their to increase efficiency when it comes to operations.
3. Strong R&D: Canon is among the businesses that is looking to continue improvement and growth, which is supported by its robust R&D capabilities that allow Canon to create disruptive products across its various categories and segments. The company’s strong R&D contributed to the development of solid Intellectual property as Canon has received numerous patents for its inventions.
4. Customers who are loyal: Canon enjoys a long history of successful marketing campaigns as well as superior performance that has helped create an impressive image for the brand. impression for their business. This has also assisted Canon to build the trust of its customers.
5. Amazing value of the brand: Canon has been valued at an astounding $40 billion that makes it among the 500 top valuable brands around the globe.
Canon Weaknesses – Canon SWOT Analysis
1. Reliance dependent on HP: HP is among the top customers for Canon’s printers producing around 18 percent of all sales for Canon. This is, however, a major advantage of Canon but the saying “your most trusted friend is also your most dangerous enemy” is a common thought. The termination of this contract could have a negative impact on the bottom line of Canon.
2. Product defects affect image quality: Canon the company well-known for its performance, has also encountered controversy concerning product flaws. In the case of T6I, for instance. Canon recognized the existence of defects with the Rebel T6s and T6I DSLRs as of 2015. This impacts the image of the brand and the trust of Canon.
3. The brand is only recognized through Imaging Products: Canon is well-known worldwide for its camera and imaging products, and more. However, its other products such as projectors , for instance, are not as well-known and therefore there is a lack recognition and recognition.
Canon Opportunities – Canon SWOT Analysis
1. Growth in the Universal Consumer Electronics market: The consumer electronics market is predicted to expand at a rate of over 2.5 percent from 2015 to 2020. This is driven by the growth of emerging markets and an increase in household income.
2. The growth of the digital printing market: Digital printing market is predicted to increase from $130 billion by 2013 and reach $290 billion by 2020. Inkjet will continue to be the main factor in the growth of this segment. This is a good sign on Canon in the near future.
3. The market for medical devices is growing: There is a steady expansion of the market for medical devices across the world. This is a benefit to in the firm’s approach to grow its business in the field of medical devices. This will enable the company expand its product line as well as its increase its market share.
Canon Threats – Canon SWOT Analysis
1. Shrinking Camera Industry: The Camera Industry is shrinking due to the advancement of mobile phone cameras , and has affected the sales of Canon’s Camera division.
2. Strict regulations in the medical device industry: The medical device industry is subject to strict and varied regulations across countries. This can increase costs of compliance and can affect the profits.
3. Rapid advancements in technology: The company must stay on top to keep up with changes in technology. This means a significant expenditure in R&D and can increase costs for Canon.
Canon SWOT Analysis Overview Template
This is the SWOT report that Canon has done. Please let us know if you have additional suggestions to add.
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