In this Research Note, we examine the Canon video surveillance businesses, incorporating Canon and Axis Communications network cameras, Milestone video management software, Arcules cloud services and BriefCam video analytics software. This analysis is based on the parent company 2022 financial results, investor presentations, Corporate Strategy conference 6th March 2023, Axis 2022 Sustainability Report, 29th March 2023 and Milestone Systems 2022 Annual Report. In 2022, Canon reported 293.8 billion yen (around $2.2 billion), +33.3% sales growth in the Network Cameras & Others line of business versus the prior year. In 2022, the network camera market returned to its original growth track as restrictions on economic activity were eased. Under this situation, by working to secure components that continued to be in short supply, Canon increased unit sales from the second quarter, which led to significant revenue growth. This record-high net sales result was due to significant growth in Axis Communications’ revenue. Canon Growth Strategy The network […]