Company profile

Future of Canon

#
Rank
204
| Quantumrun Global 1000

Canon Inc. is a Japanese corporation operating globally. It specializes in the production of optical and imaging products, including medical equipment, steppers, camcorders, cameras, photocopiers, and computer printers. Its headquartered in Ota, Tokyo, Japan.

Home Country:
Sector:
Industry:
Computers, Office Equipment
Website:
Founded:
1937
Global employee count:
Domestic employee count:
197673
Number of domestic locations:
25

Financial Health

Revenue:
$3401487000000 JPY
3y average revenue:
$3643003333333 JPY
Operating expenses:
$1444967000000 JPY
3y average expenses:
$1507374666667 JPY
Funds in reserve:
$633613000000 JPY
Market country
Revenue from country
0.28
Revenue from country
0.27
Revenue from country
0.24

Asset Performance

  1. Product/Service/Dept. name
    Office
    Product/Service revenue
    2110000000
  2. Product/Service/Dept. name
    Imaging system
    Product/Service revenue
    1260000000
  3. Product/Service/Dept. name
    Industry and others
    Product/Service revenue
    524000000

Innovation assets and Pipeline

Global brand rank:
196
Investment into R&D:
$302376000000 JPY
Total patents held:
11195
Number of patents field last year:
506

All company data collected from its 2016 annual report and other public sources. The accuracy of this data and the conclusions derived from them depend on this publicly accessible data. If a data point listed above is discovered to be inaccurate, Quantumrun will make the necessary corrections to this live page. 

DISRUPTION VULNERABILITY

Belonging to the technology sector means this company will be affected directly and indirectly by a number of disruptive opportunities and challenges over the coming decades. While described in detail within Quantumrun’s special reports, these disruptive trends can be summarized along the following broad points:

*First off, internet penetration will grow from 50 percent in 2015 to over 80 percent by the late-2020s, allowing regions across Africa, South America, the Middle East and parts of Asia to experience their first Internet revolution. These regions will represent the biggest growth opportunities for tech companies over the next two decades.
*Similar to the point above, the introduction of 5G internet speeds in the developed world by the mid-2020s will enable a range of new technologies to finally achieve mass commercialization, from augmented reality to autonomous vehicles to smart cities.
*Gen-Zs and Millennials are set to dominate the global population by the late-2020s. This tech-literate and tech-supporting demographic will fuel the adoption of an ever greater integration of technology into every aspect of human life.
*The shrinking cost and increasing computational capacity of artificial intelligence (AI) systems will lead to its greater use across a number of applications within the tech sector. All regimented or codified tasks and professions will see greater automation, leading to dramatically reduced operating costs and sizeable layoffs of white and blue-collar employees.
*One highlight from the point above, all tech companies that employ custom software in their operations will increasingly begin adopting AI systems (more so than humans) to write their software. This will eventually result in software that contains fewer errors and vulnerabilities, and a better integration with tomorrow's increasingly powerful hardware.
*Moore’s law will continue to advance the computational capacity and data storage of electronic hardware, while the virtualization of computation (thanks to the rise of the ‘cloud’) will continue to democratize computation applications for the masses.
*The mid-2020s will see significant breakthroughs in quantum computing that will enable game-changing computational abilities applicable to most offerings from technology sector companies.
*The shrinking cost and increasing functionality of advanced manufacturing robotics will lead to further automation of factory assembly lines, thereby improving manufacturing quality and costs associated with consumer hardware built by tech companies.
*As the general population becomes ever more dependant on the offerings of tech companies, their influence will become a threat to governments who will seek to increasingly regulate them into submission. These legislative power plays will vary in their success depending on the size of the tech company targeted.

SCENARIOS

Probable

*Canon creates an AI cancer assessment prototype in Scotland, which makes Scotland the world leader in cancer care. The tested prototype is later accessible also in the USA.

*Canon’s VR technologies, specifically VR imagery displays within magnetic resonance equipment, and noise cancellation system, are widely implemented in private hospitals around the world.

*Nikon will remain to be Canon’s main rival in the photography market. Both companies launch mirrorless cameras by the end of 2018, appealing to a range of users who want a camera that is more advanced than smartphone camera and less professional than DSLRs.

*Also, in 2018, Canon introduces a portable, pocketsize instant photo printer, with an idea that some photos do not belong in the smartphone storage only.

*Canon experience stores will become common first in Australia and Asia, then America and Europe. In the stores, it will be possible to try and explore different camera functions and lenses through a VR simulator.

*Drone cameras will become a very desired and common product; thus, it will be a natural step for Canon to launch their own drone device. Live streaming from drone cameras on social media will become a fixed feature and a new trend.

Plausible

*Fake or manipulated photo detection will become a normal procedure before posting any photo online. All photography-related companies, including Canon, will be required by law to instruct and warn customers about the consequences of manipulating photographs and violating someone’s privacy.

*Canon’s currently developed Free Viewpoint Video System will give an option of watching a football game, or any other sports, from a viewpoint of the sportsmen or stadium seats.

Possible

*If some photos don’t belong in the smartphone storage, neither do some videos. Canon will enable its users to view their videos in a VR mode and live the moment again, provided it’s been recorded in 360o mode.

*A non-stop recording and photo-shooting of one’s life using a small drone camera flying around its owner.

*Commonly available, professional, high-resolution cameras (including drone cameras) will meaningfully decrease the level of one’s privacy. It will also pose a threat to political affairs and expose governmental confidential issues. This will lead to a requirement of holding a camera license.

COMPANY’S FUTURE PROSPECTS

Growing strengths:

*Canon Medical Research – AI cancer assessment prototype in Scotland; VR technology used to increase patients’ comfort and wellbeing during examination (magnetic resonance).

*Photo printers: photo-friendly printers – ability to print high-quality, borderless images; pocket printer – printing images straight from one’s smartphone.

*The experience stores and VR simulators allowing customers to try a device before purchase.

Growing challenges:

*Appealing to smartphone users, who see no need in owning a professional camera when already having access to more and more advanced cameras on their phones. Canon will hope to highlight that it is possible to do more with a professional camera than it is with a smartphone camera.

*Entering the drone cameras industry.

*Drawing customers’ attention and building a better connection through stronger engagement.

Short Term Initiatives:

*Mirrorless camera launch by the end of 2018, another competition with Nikon.

*Canon store expansion and improvements. Canon follows Apple and Samsung experience store style, where customers can touch and try different cameras. The biggest stores will be equipped with a VR simulator, where users will be able to experience the functions of different devices and lenses. The first experience stores will open in Australia and Japan.

*Applying VR to increase the wellbeing of medical patients, e.g. during magnetic resonance examination.

*Further development and launch of Canon VR headset.

*Develop and disseminate a drone camera similar to the Lily Camera, which follows, leads and circulates around the owner shooting photos and recording videos.

Long Term Strategy Forecast:

*Medical research expansion; applying the newest technologies like AI to assess and work against cancer.

*Change in camera lens design, from bulky and curved lenses to flat metalenses.

* Development and introduction of single pixel cameras, which enable photographing through fog or thick falling snow, with an automatically increased resolution depending on the photographed object.

*Wider introduction of multi-sensor imaging (pointing many different detectors at one specific scene)

*To bring image printing on different surfaces and products to homes.

*Development of the Canon Free Viewpoint Video System which will revolutionize the way viewers experience sports.

Societal impact:

*Law adjustments needed for casual drone cameras operations.

*Professional, high-quality photography available for masses.

*The widespread availability of professional, high resolution cameras, including drones, will drastically decrease people’s privacy. Additionally, it will impact the security of political affairs and contribute to exposing state’s confidential issues. This will lead to a requirement of holding a camera ownership permission.

*A software able to detect fake images, or photos which were manipulated, becomes a normal part of a procedure happening before posting an image online.

*New scientific discoveries thanks to the new generation of cameras, especially the single-pixel camera, able to photograph what have not been seen before (e.g. the eye retina in darkness).

*Decrease in the number of sports events attendees due to the introduction of a far more attractive Free Viewpoint Video System.

- Forecasts collected by Alicja Halbryt

Company Headlines

Source/Publication name
Digital Camera World
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Source/Publication name
Which.co.uk
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Digital Trends
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Digital Trends (2)
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Popular Science
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Insider.co.uk
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Trusted Reviews
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Radiology Business
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The Sydney Morning Herald
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Campaign
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Source/Publication name
Forbes
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Canon