Canva is a software and graphic designing web platform and company. Cameron Adams, Cliff Obrecht, and Melanie Parkins founded the company in 2013. Today, we’ll discuss the SWOT analysis of Canva; 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 Canva
- Non-Profit Canva
- Education Canva
- Enterprise Canva
- Canva Professional
- Graphic Designing Canva
- Subsidiaries of Canva
- Flourish
Smartmockups
- Kaleido
- Serifs
- Pixel
- Pixabay
Statistical facts and figures of Canva
- Annual revenue: 2 billion USD (2023)
- Network: 170 million users
- Employees: 3500
- Market: 190countries
Competitors of Canva
- Fotor
- Adobe
- Visme
- Snapa
- Pixlr
- Adobe Express
- Piktochart
- PicMonkey
- Vista Create
The SWOT analysis of Canva would analyze the internal strengths and weaknesses of the company; and external opportunities and threats that the brand has to face. Here’s Canva SWOT analysis as a business strategy analysis example company as follows;
Strengths of Canva
Some of the main internal strengths in the Canva SWOT analysis example company as business strategy analysis are as follows;
Large Network
Canva has a very large market network comprising over 190 countries across the world. According to estimates, the company has roundabout 170 million monthly active users. The large market network and database of users show the company’s strong commitment to the customer market.
Diversified Portfolio
Canva has developed a well-diversified product portfolio comprising multiple products, services, and subsidiary web platforms. The large product and service portfolio and subsidiaries would help the company stabilize its earnings, revenue, and profitability.
User-Friendly
Canva has developed a very user-friendly platform with multiple easy-to-use interfaces and features. The user-friendly features and interface played a key role in the growth and popularity of the platform among users in a very short time.
Freemium & Paid
Canva offers both types of packages and offers to customers. Freemium package to the free users and if they want additional professional services, they would have to get the paid subscription package that would give them unlimited access.
Integration
Canva offers easy integration with other social media platforms, Google Drive, and other applications and web platforms. The easy integration helps the company to keep users on the platforms without switching to other platforms.
Updates
Canva regularly launches new updates and features on its platform. It allows the company to keep updating the platform in order to keep up with growing market trends. The latest features would help the company to attract new customers and retain existing ones.
Weaknesses of Canva
Some of the main internal weaknesses in the Canva SWOT analysis example company as business strategy analysis are as follows;
Limited Pro Tools
Canva has limited professional tools in its Pro and Free versions than other competitors like Adobe. The limited features of the web graphic designing platform would compel users to easily switch to other platforms.
Data Breach
Hackers and cybercriminals breached the database of the company Canva platform and had access to the 139 million users. Incidents of data breaches and data privacy violations are jeopardizing the trust and confidence of customers.
Over-reliance on Web Services
Canva is heavily relying on its web platforms as its main sources of revenue and profitability. Over-reliance on internet-based services and platforms is not a good business and market strategy.
Opportunities for Canva
Some of the main available opportunities in the Canva SWOT analysis example company as business strategy analysis are as follows;
Market Expansion
Canva should expand its business market and enter into new regions, markets, and countries across the world. The market expansion would help the company increase its revenue, total number of users, and market share.
Portfolio Expansion
Along with market expansion, Canva should keep expanding its product and service portfolio. There is always room for growth and development of the platforms.
Research & Innovation
In order to develop its platforms and launch new features and tools, Canva should invest a significant amount of capital resources in research and development. It would help the company to make its platform user-friendly and convenient.
Threats to Canva
Some of the main potential threats in the Canva SWOT analysis example company as business strategy analysis are as follows;
Competition
Canva is facing tough competition from competitive brands like Adobe, Fotor, and PicMonkey. They all are the world’s leading graphic designing web platforms; they established a strong market share and loyal database of customers; their market presence is negatively impacting the growth and profitability of the platform.
Data Privacy Regulations
Government regulations are very strict when it comes to the data privacy of individual users. Canva should comply with the data regulations of different countries; a data breach would jeopardize the trust of customers, negative market reputation, and expensive lawsuits.
Conclusion: Canva SWOT Analysis Example Company |SWOT Analysis of Canva |Business Strategy Analysis
After an in-depth study of the swot analysis of Canva; we have realized that Canva is the world’s leading graphic designing web platform. If you are learning about Canva SWOT analysis example company; then you should keep in mind the abovementioned internal strengths and weaknesses; and external opportunities and threats as brand strategy analysis.
Ahsan Ali Shaw is an accomplished Business Writer, Analyst, and Public Speaker. Other than that, he’s a fun loving person.
