Canon is betting on AI, industrial print, medical imaging and semiconductors for next growth phase

Canon Inc. released its Integrated Report, giving insight into the direction the company expects to go over the next five years. The report is designed to help investors and other stakeholders achieve a greater understanding of Canon’s management policies and the story behind its long-term value creation process, according to the announcement. For the photo and imaging industry, Canon’s roadmap suggests a company increasingly focused on industrial and professional markets, using AI and advanced manufacturing technologies to offset slower growth in traditional consumer imaging segments.

The company is entering the latest phase of its long-running corporate transformation with an ambitious target to increase annual revenue from ¥4.6 trillion in 2025 to ¥5.6 trillion by 2030 while raising its operating profit margin from 9.8% to 15%. Rather than relying on its traditional camera and office-imaging businesses, the company is betting that productivity improvements, industrial printing, advanced medical imaging, semiconductor manufacturing equipment, and artificial intelligence will drive the next stage of growth.

The company’s new five-year management program centers on what Canon calls “innovations in productivity.” Management plans to complete structural reforms in sales, manufacturing, and its medical business by 2028, then accelerate growth through new products and market expansion. Key targets include ¥5 trillion in revenue by 2028 and ¥5.6 trillion by 2030.

Canon Chairman and CEO Fujio Mitarai argues the company has already undergone a major portfolio shift in response to the decline of traditional camera and office-equipment markets following the rise of smartphones and cloud computing. Through acquisitions and internal development, Canon reorganized around four business pillars: Printing, Medical, Imaging, and Industrial.

For the imaging industry, the most significant development may be Canon’s continued commitment to commercial and industrial printing. Printing remains the company’s largest business segment, accounting for more than half of total revenue at ¥2.49 trillion in 2025. While office printing markets continue to mature, Canon sees growth opportunities in digital production printing, packaging, labels, and corrugated applications. The company plans to expand its industrial printing portfolio with products such as the corrPRESS iB17 corrugated press and LabelStream LS2000 label press, while leveraging partnerships such as its equipment supply agreement with Heidelberg.

Canon is also positioning AI as a company-wide productivity tool. Management plans to use AI in manufacturing automation, product development, intellectual-property management, and service operations. The company is exploring AI-based services that analyze operational data from printing and medical systems to improve customer productivity.

Beyond printing and imaging, Canon expects significant growth from its Industrial and Medical groups. The company highlighted nanoimprint lithography systems for semiconductor production and photon-counting CT scanners as major growth drivers. Management believes demand for both technologies could help support the company’s profitability targets through the end of the decade.

Perhaps the most unexpected initiative is Canon’s plan to develop a space business. Building on satellite technology developed by Canon Electronics, the company intends to combine expertise in optics, sensing, image processing, and equipment control to create a globally competitive space-related business.