SWOT Analysis of Canon

Canon is an imaging, lenses, medical equipment, scanner, consumer electronics, and Semiconductor manufacturing Japanese multinational company. The electronics company started its business in 1937. Today, we’ll discuss the SWOT analysis of Canon; it outlines strengths and weaknesses; opportunities, and threats that the company has to face; as a business strategy analysis example company.

The products and services portfolio of Canon

• Micromotors
• Magnet heads
• Ophthalmic instruments
• LCDs
• Lenses
• Binoculars
• Printer
• Scanner
• Camcorder
• SLR cameras
• Photocopiers

Subsidiaries of Canon

• Axis Communications
• Canon Medical System
• Tokki Canon
• Canon Production Printing

Statistical facts and figures of Canon

• Annual revenue: 30.31billion USD (2022)
• Net income: 2.65 billion USD (2022)
• Employees: 185000
• Asset net worth: 23.41billion USD (2022)

Competitors of Canon

• HP
• Brother Industries
• Epson
• Olympus
• Fujifilm
• Samsung
• Panasonic
• Casio

The SWOT analysis of Canon would analyze the internal strengths and weaknesses of the company; and external opportunities and threats that the brand has to face. Here’s Canon SWOT analysis as a business strategy analysis example company as follows;

Strengths of Canon 

Some of the main internal strengths in the Canon SWOT analysis example company as business strategy analysis are as follows;

Large Network

Canon has established a very large network and the company is operating its business in 40 countries across the world. The large market network helps the company to serve the needs and requirements of various types of customers worldwide.

Diverse Portfolio

Canon has developed a well-diversified product portfolio comprising printers, scanners, lenses, consumer electronics, and various other office supplies. The large and diversified portfolio stabilizes the company’s sales, revenue, and profitability by decreasing the risk factor.

Marketing

Canon runs various types of marketing and advertisement campaigns. The company employs various media channels; including social media, digital media, TV, print media, and others to approach the targeted consumer market and sell its products there.

Leading Camera Brand

Canon has established a strong market position in the camera, printer, lenses, and camcorder manufacturing industry. Customers trust the brand for providing the top image quality and video results without any differentiation.

Environmental Friendly Initiative

Canon is engaging in various types of environmentally sustainable initiatives. The camera and consumer electronics brand has made a strong commitment to the environment, social responsibility, and ordinary customers.

Sponsorships

Canon has also been sponsoring various mega sporting events of football, motor races, and others. Along with sporting sponsorship, the company is also donating to various charitable causes. It shows the company’s strong commitment to the society and the environment.

Weaknesses of Canon 

Some of the main internal weaknesses in the Canon SWOT analysis example company as business strategy analysis are as follows;

Limited Market Share

Canon has limited market share in terms of market network. The company is only operating its business in roundabout 40 countries across the world. The limited market share is negatively impacting the growth rate and profitability of the company.

Over-Reliance on Cameras

Camera, camcorder, and other camera accessories are some of the top-selling products of Canon. In fact, the company is heavily relying on them as its main sources of sales, revenue, and profitability.

Opportunities for Canon

Some of the main available opportunities in the Canon SWOT analysis example company as business strategy analysis are as follows;

Market Expansion

Canon should expand its business market and enter new geographical regions, markets, and countries across the globe. The camera business holds great growth potential due to the social media platforms’ growth and video content promotion. People want top-quality images and videos to share with their friends and social network.

Portfolio Expansion

Along with market expansion, Canon should expand its product portfolio by launching new product lines and expanding the existing product lines with unique features. The portfolio expansion would help the company target and serve new types of customers.

Research & Innovation

Canon should keep investing capital resources in research and development. It would help the company to develop advanced cameras, printers, scanners, and camcorders with top-quality images and extraordinary results. Ultimately, it would increase the customer satisfaction level.

Strategic Alliance

Canon should develop strategic alliances with other consumer electronics and camera manufacturing businesses and companies. The joint venture and sharing of knowledge and expertise would help the company to cover more market grounds and launch new types of products.

Threats to Canon 

Some of the main potential threats in the Canon SWOT analysis example company as business strategy analysis are as follows;

Tough Competition

Canon is facing tough competition from competitive brands like Samsung, Sony, and Panasonic. They’re the world’s leading consumer electronics brands and they have established a strong market share position in the global market. Their market presence is negatively impacting the growth rate of the brand.

Counterfeit

There are some cheap counterfeit manufacturers; they illegally copy the logo and design of the company Canon and deceive customers. Ordinary customers procure a cheap copy of the world’s leading brand and blame the company later for poor quality.

Conclusion: Canon SWOT Analysis Example Company |SWOT Analysis of Canon |Business Strategy Analysis 

After an in-depth study of the swot analysis of Canon; we have realized that Canon is the world’s leading camera and consumer electronics manufacturing company. If you are learning about Canon SWOT analysis example company; then you should keep in mind the abovementioned internal strengths and weaknesses; external opportunities and threats as brand strategy analysis.