Canon Middle East and Turkey poised for 11% growth in 2023, eyes double-digit growth in 2024
- Annual Partner Conference bolsters Canon's 'New Customers, New World' vision, anchored in a resilient 'Rethink, Revive, Reach' approach
- Company continues to invest in people and talent to enhance its customer-centric workforce
DUBAI, UAE, Nov. 27, 2023 /PRNewswire/ -- Canon Middle East and Turkey has set its sights on robust growth, projecting 11% revenue growth 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.
Canon continues to invest more than 8% of its global sales in R&D annually, underscoring its commitment to innovation. The company's growth mirrors global economic trends, with thriving markets such as the Middle East showcasing a robust 4.8% growth rate, surpassing the global average.
These figures and projections were revealed during Canon's 17th regional Annual Partner Conference. Centred around 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 Middle East and Turkey.
Reaffirming the 'New Customers, New World' vision, the conference stressed on the approach of 'Rethink, Revive, Reach' 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 (Subbu) Hariharan, Managing Director of Canon Middle East & Turkey, spoke passionately about the significance of this annual gathering in the region. He emphasized the importance of unity, innovation, and customer-centricity, stating: "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."
Subbu continued by highlighting 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 philosophy of KYOSEI; living and working together for the common good.
"As we journey ahead, my message to our partners remains simple yet profound: let's steadfastly live our purpose. Embracing this purpose fosters a continuous focus on our people, customers, corporate values, and brand ethos. This collective commitment brings forth the finest in both our people and our organizations," Subbu added.
With a strategic focus on nurturing new skills essential to meet the needs of tomorrow's customer, Canon supports the development of youth and future-ready employees through 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.
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. These encompass 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 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, Subbu concluded.
The discussions and collaborations that took place at the conference are expected to pave the way for future success. This shared commitment to excellence sets Canon and its partners on the right path to explore new horizons, address challenges with innovation, and unlock opportunities for sustainable growth.
About Canon Middle East
Canon Middle East, a subsidiary of Canon Europe, is the operational headquarters for Canon in the Middle East is based in Dubai, UAE.
Founded in 1937, the desire to continuously innovate has kept Canon at the forefront of imaging excellence throughout its 80-year history and has commitments to invest in the right areas and capture growth opportunities. From cameras to commercial printers, and business consultancy to healthcare technologies, Canon enriches lives and businesses through imaging innovation.
Canon's corporate philosophy is Kyosei– 'living and working together for the common good'. In EMEA, Canon Europe pursues sustainable business growth, focusing on reducing its own environmental impact and supporting customers to reduce theirs using Canon's products, solutions and services.
Canon invests heavily in R&D to deliver the richest and most innovative products and services to satisfy customers' creative needs. From amateur photographers to professional print companies, Canon enables each customer to realize their own passion for image. Further information about Canon Middle East is available at www.canon-me.com
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SOURCE Canon Middle East and Turkey
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