Canon Middle East and Turkey Sets Sights on Robust Growth
Canon Middle East and Turkey (CMET) has set its sights on robust growth, projecting a revenue uptick of 11% in 2023. Driven by its commitment to serve the ‘Customer of Tomorrow’, the company anticipates double-digit growth in both consumer and business product segments in 2024.
Reinforcing its commitment to innovation, Canon continues to invest more than 8% of its global sales in R&D annually. The company’s growth mirrors global economic trends, with thriving markets such as the Middle East showcasing a healthy 4.8% growth rate, surpassing the global average.
The figures and projections were revealed during Canon’s 17th regional Annual Partner Conference. Centred on the theme ‘ONE’, the recent event emphasized the importance of collaboration and innovation in the ever-evolving world of customer-centricity. It also served as a platform to address the shifting industry landscape and respond to evolving customer needs across the Middle East and Turkey.
Reiterating, strengthening, and further building upon the ‘New Customers, New World’ vision, the conference stressed on the ‘RETHINK, REVIVE, REACH’ approach that is propelling Canon forward. This approach is rooted in the understanding that in a rapidly changing landscape, Canon and its partners must constantly adapt, evolve, and refresh their strategies to meet the needs of emerging customer segments.
Venkatasubramanian Hariharan, Managing Director at Canon Middle East and Turkey, spoke passionately about the significance of this annual gathering in the region. Emphasizing on the importance of unity, innovation, and customer-centricity, he says, “Our commitment to our partners and our shared vision to be lifetime imaging partners, enhancing the lives of the ‘Customers of Tomorrow’, has never been stronger. Canon’s achievements in 2023 are testament to our resolute mindset focused on understanding customers and elevating our value propositions in the market.”
Hariharan also highlighted the importance of investing in people and talent, developing the skills, capabilities, and mindsets of employees – both within Canon, its partner organizations, and local communities – in line with Canon’s corporate philosophy of Kyosei; harmoniously living and working together in happiness into the future.
The conference highlighted the shared successes and milestones achieved by Canon and its partners over the past year. The deepening partnership between Canon and its network of dedicated partners is testament to the company’s customer-centric approach, which remains at the core of its business philosophy.
During the conference, Canon representatives underscored the dawn of a post-pandemic landscape, spotlighting an emerging wave of consumers encompassing casual content creators, gamers, young storytellers, hybrid home enthusiasts, proponents of digital detox, socially hyperactive individuals, avid followers of video-on-demand, independent filmmakers, and ardent supporters of live streaming.
In the business realm, a shift in demand was emphasized, reflecting a surge in requests for Managed Print Services (MPS) fused with security solutions and sustainability factors. Other trends highlighted include the burgeoning sectors of creative and industrial printing, mirroring a growing interest in centralized work processes. Additionally, an uptick in regional investments directed toward tourism and business travel was highlighted during the discussions.
Canon showcased its forward-looking approach by addressing future customer needs in image capture, from crafting human avatars for the metaverse to enhancing live streaming and vlogging with improved kits. The company also outlined its commitment to businesses of tomorrow by embracing the digital shift, offering pioneering business applications for packaging and label printing. Canon’s innovative products and software offer unparalleled workplace and remote connectivity solutions.
“As we emerge from the shadows of the pandemic, our growth journey evolves and phase two beckons. From 2024 to 2026, we embark on an accelerated growth trajectory in this new world,” adds Hariharan.
Canon also supports the development of youth and future-ready employees by nurturing interns and empowering women in the workforce. Canon’s dedication to sustainability initiatives goes hand in hand with its ethos of giving back to society, ensuring a positive impact on both its customers and the broader community.
