Canon's Manabu Yamazaki says India's book market is expected to hit one trillion

Manabu Yamazaki, the president & CEO of Canon India began his chief guest address at the PrintWeek Awards by saying, “The printing industry in India is one of the fastest growing in the world and continues to show immense potential for further market expansion.” 

Manabu Yamazaki added, “Despite the pandemic-induced slowdown, the industry was quick to pick up, especially with the increased adoption of digital across industries. The printing industry has undergone rapid transformation in the last couple of years augmented by advanced innovations and a rise in customers adopting digital experiences.”

Then, Manabu Yamazaki highlighted some of the key trends which he has discerned. He said, “In India, volume growth of commercial printing, decentralisation of digital printing, and its expansion in tier-II and III cities is driving new applications for industry. It has been up to each industry as to how they join the digital bandwagon and stay relevant in today’s dynamic landscape.”

He added, “The packaging print industry has evolved over time to compete with the new digital age by embracing digital printing services. Today, packaging is the world’s third largest industry following the food industry (first) and energy (second) and the only industry that has to do with every single product produced in an economy.”

He shared that packaging consumption in India has increased by 200% in the past decade. This, he said, is in line with the growing consumer market in India as the highest growth sector in the country.

He alluded to the rise of the Indian middle class, the rapid expansion of organised retail, the growth of exports, and India’s rising eCommerce sector as further factors facilitating this growth. This, Yamazaki said, “shows the potential that the segment holds, with the adoption of the right technologies by side.”

Similarly, Manabu Yamazaki extolled the vastness of India, different regions and languages which has contributed to the growth of the publishing industry. He said, “India's print book market is expected to hit one trillion by 2024, as per India Book Market Report With the rising industry demand, the publishing industry can greatly benefit from the latest technologies aimed at improving production efficiencies and catering to large bulk orders.”

He said the industry has to adapt to these trends, and the industry needs to constantly evolve. He pointed out how Canon is following the strategy of ‘Henkaku’ which means transformation. He said, “We have transformed our printing portfolio to include the latest and revolutionary technologies.”

He said, “The digital revolution has significantly impacted the printing industry, transforming how printing services are produced, delivered, and consumed, enabling more personalised, targeted, and cost-effective printing solutions. Which is why, Canon has been committed to leveraging world-class technology and supporting customers in their digital transformation journey and will continue to do so.”

He spotlighted Canon's role as a pioneer in the production printing segment, and how the group has consistently introduced products and solutions leveraging its global technical expertise, R&D and diversified presence across segments. 

Yamazaki said, “As a global brand, we look at the overall development of the industry along with establishing strong customer relationships. For this, it is our endeavour to help our customers and partners in leveraging the full potential of digital.”

Manabu Yamazaki signed off his address by stating, “The growth of the printing industry can also be attributed to the collective efforts of all the stakeholders and the PrintWeek Awards is imperative in recognising some of the best works. A hearty congratulations to all the winners!”

Later, Manabu Yamazaki and the Canon team handed over three awards Digital Printer of the Year, Digital Photo Album Printer of the Year and Innovative Printer of the Year. Later, he and Hormazd Sorabjee, the managing director of Haymarket Sac India and editor of Autocar in India handed over the PrintWeek Company of the Year to TCPL Packaging.