Canon is also expanding its presence in surveillance and security, medical diagnostic imaging, and industrial printing.
Canon India is looking to tap the country’s emerging semiconductor manufacturing ecosystem by supplying equipment for chip production, as the company seeks to diversify beyond its traditional printing and imaging businesses.
The Japanese imaging major expects semiconductor manufacturing to become a potential growth opportunity over the next one to two years as India develops domestic fabrication capacity, Toshiaki Nomura, President and CEO, Canon India, said.
Canon supplies lithography equipment used in semiconductor manufacturing. While ASML dominates the global lithography market, particularly in advanced and extreme ultraviolet (EUV) systems, Canon also has a presence in semiconductor lithography.
“We expect a significant opportunity” once semiconductor manufacturing develops in India, Nomura said. He added that the pace of development of India’s chip industry remains outside Canon’s control.
The company’s semiconductor equipment ambitions form part of a broader strategy to build new business segments in India. Canon is also expanding its presence in surveillance and security, medical diagnostic imaging, and industrial printing.
Canon entered India’s surveillance and security market around four years ago and expects the business to grow at an annual rate of 40–50%. The segment grew 43% in 2025 compared with the previous year, according to the company.
Canon is seeking to build an integrated security offering by combining CCTV cameras, video management software, and video analytics through group companies such as Axis Communications and Milestone.
Medical imaging is another area where Canon expects significant growth over the next two to three years. Although the company has a stronger presence in medical imaging in Japan than in India, it sees increasing opportunities in the Indian market.
Industrial printing, particularly for labels and packaging, is also expected to gain momentum from next year, adding another growth avenue as Canon expands into businesses beyond its traditional imaging portfolio.
