Canada Radio-Frequency Identification (RFID) Market Overview, 2029

Canada Radio-Frequency Identification (RFID) Market Overview, 2029

The Radio-Frequency Identification (RFID) market in Canada has witnessed significant growth and innovation, positioning itself at the forefront of technological advancements in recent years. RFID technology, which utilises radio waves for the wireless identification and tracking of objects, has found widespread applications across various industries in the Canadian market. As a country known for its robust economy, advanced technological infrastructure, and commitment to innovation, Canada has embraced RFID solutions to enhance efficiency, visibility, and security in diverse sectors. From logistics and supply chain management to healthcare, retail, and manufacturing, Canadian businesses are leveraging RFID technology to streamline operations, reduce errors, and improve overall productivity. The adoption of RFID in Canada reflects a strategic response to the evolving demands of modern business environments, emphasising the country's commitment to staying at the forefront of global technological trends. With its versatility and ability to drive operational excellence, the RFID market in Canada is poised for continued growth, offering businesses innovative solutions to navigate the complexities of the digital era. The growth of e-commerce in Canada has significantly influenced the RFID market. RFID technology is increasingly used to improve the efficiency of order fulfilment, inventory management, and overall logistics operations in response to the demands of online retail. In Canada's climate, the RFID market in the country places a particular emphasis on applications related to cold chain logistics. RFID is utilised to monitor and ensure the integrity of temperature-sensitive products in industries such as food and pharmaceuticals.

According to the research report ""Canada Radio-Frequency Identification (RFID) Market Overview, 2029,"" published by Bonafide Research, the Canada Radio-Frequency Identification (RFID) market was valued at more than USD 650 Million in 2023. RFID technology plays a crucial role in optimising supply chain and logistics operations. Canadian businesses leverage RFID for real-time tracking, inventory management, and enhanced visibility, resulting in more efficient and streamlined supply chains. The surge in e-commerce activities in Canada has heightened the demand for advanced tracking and management solutions. RFID facilitates accurate order fulfilment, inventory control, and improved customer experiences, addressing the dynamic needs of the expanding online retail sector. In Canada's cold climate, RFID plays a vital role in cold chain logistics, ensuring the integrity of temperature-sensitive products during transportation and storage. This is particularly important in industries such as food and pharmaceuticals. RFID technology is employed for secure access control and authentication purposes. Canadian organisations use RFID cards and tags to enhance physical and digital security, controlling access to facilities and systems. Growing awareness of the benefits of RFID technology and ongoing education about its applications contribute to its adoption in Canada. Businesses recognise the potential for RFID to drive efficiency, reduce costs, and improve operational processes.

Based on the product types, there are three segments: tags, readers, and software and services. Among them, the reader market is leading the market. As the range of RFID applications expands across industries such as retail, healthcare, logistics, and manufacturing, the demand for RFID readers increases. These readers are essential for capturing data from RFID tags and facilitating various use cases, driving overall market growth. RFID readers are integral to supply chain optimisation efforts in Canada. They enable real-time tracking of goods, improving visibility and traceability throughout the supply chain. As companies prioritise efficiency in logistics, the demand for RFID readers increases. RFID technology, including readers, is increasingly adopted in the Canadian healthcare sector for patient tracking, asset management, and medication tracking. The healthcare industry's focus on improving patient care and operational efficiency drives the demand for RFID readers. Canada's adoption of Industry 4.0 principles, characterised by the integration of digital technologies into industrial processes, may drive the demand for RFID readers. As part of the broader technological landscape, RFID readers play a role in data collection and automation. In terms of the tag types active and passive, the passive is lead market. In retail and supply chain management, there is often a need for item-level tagging to track individual products. Passive RFID tags are suitable for this purpose, and the cost efficiency allows businesses to deploy RFID technology on a larger scale. Retailers in Canada often leverage passive RFID for inventory management. The technology enables accurate and efficient tracking of items on store shelves, reducing out-of-stock instances and improving overall inventory accuracy.

According to the frequency, it is segmented into low frequency, high frequency, and ultra-high frequency. Among them, the low frequency significantly contributes to the market. LF RFID is well-suited for applications where close proximity identification is required. In sectors such as access control, LF RFID is often used for security purposes where a short read range is sufficient for authentication. LF RFID is commonly employed in access control systems, including door entry systems and employee access cards. The technology allows for secure and contactless authentication, enhancing convenience and security in various settings. In certain asset tracking applications, especially those requiring close-range identification, LF RFID is chosen. This can include tracking and managing assets in environments such as libraries, warehouses, and manufacturing facilities. Based on the end user, they are bifurcated into Retail, Healthcare, Logistics & Supply Chain, Transportation, Aerospace & Defence, Animal Tracking/Agriculture, Commercial, Security & Access Control, and Others, among them in Canada. Healthcare is a growing market. RFID helps healthcare organisations in Canada manage and track medical equipment, devices, and assets efficiently. This reduces the time spent searching for equipment, improves asset utilisation, and ensures that critical medical tools are readily available when needed. RFID is utilised for patient tracking and identification within healthcare facilities. This includes tracking patients throughout their journey in the hospital, ensuring accurate identification during procedures, and preventing errors related to patient misidentification.

Considered in this report:
• Geography: Canada
• Historic year: 2018
• Base year: 2023
• Estimated year: 2024
• Forecast year: 2029

Aspects covered in this report:
• Canada Radio-Frequency Identification (RFID) market with its value and forecast along with its segments
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

By Products Types:
• Tags
• Readers
• Software & Services

By Tag Types:
• Passive
• Active

By Frequency Types:
• Low Frequency
• High Frequency
• Ultra-High Frequency

By End User
• Retail
• Healthcare
• Logistics & Supply Chain
• Transportation
• Aerospace & Defense
• Animal Tracking/Agriculture
• Commercial
• Security and Access Control
• Others

The approach of the report:
This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and list out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, and annual reports of companies, analyzing the government-generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers into regional aspects, tier aspects, age groups, and gender. Once we have primary data with us we started verifying the details obtained from secondary sources.

Intended audience:
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the Radio Frequency Identification industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.The Radio-Frequency Identification (RFID) market in Canada has witnessed significant growth and innovation, positioning itself at the forefront of technological advancements in recent years. RFID technology, which utilises radio waves for the wireless identification and tracking of objects, has found widespread applications across various industries in the Canadian market. As a country known for its robust economy, advanced technological infrastructure, and commitment to innovation, Canada has embraced RFID solutions to enhance efficiency, visibility, and security in diverse sectors. From logistics and supply chain management to healthcare, retail, and manufacturing, Canadian businesses are leveraging RFID technology to streamline operations, reduce errors, and improve overall productivity. The adoption of RFID in Canada reflects a strategic response to the evolving demands of modern business environments, emphasising the country's commitment to staying at the forefront of global technological trends. With its versatility and ability to drive operational excellence, the RFID market in Canada is poised for continued growth, offering businesses innovative solutions to navigate the complexities of the digital era. The growth of e-commerce in Canada has significantly influenced the RFID market. RFID technology is increasingly used to improve the efficiency of order fulfilment, inventory management, and overall logistics operations in response to the demands of online retail. In Canada's climate, the RFID market in the country places a particular emphasis on applications related to cold chain logistics. RFID is utilised to monitor and ensure the integrity of temperature-sensitive products in industries such as food and pharmaceuticals. According to the research report "Canada Radio-Frequency Identification (RFID) Market Overview, 2029," published by Bonafide Research, the Canada Radio-Frequency Identification (RFID) market was valued at more than USD 650 Million in 2023. RFID technology plays a crucial role in optimising supply chain and logistics operations. Canadian businesses leverage RFID for real-time tracking, inventory management, and enhanced visibility, resulting in more efficient and streamlined supply chains. The surge in e-commerce activities in Canada has heightened the demand for advanced tracking and management solutions. RFID facilitates accurate order fulfilment, inventory control, and improved customer experiences, addressing the dynamic needs of the expanding online retail sector. In Canada's cold climate, RFID plays a vital role in cold chain logistics, ensuring the integrity of temperature-sensitive products during transportation and storage. This is particularly important in industries such as food and pharmaceuticals. RFID technology is employed for secure access control and authentication purposes. Canadian organisations use RFID cards and tags to enhance physical and digital security, controlling access to facilities and systems. Growing awareness of the benefits of RFID technology and ongoing education about its applications contribute to its adoption in Canada. Businesses recognise the potential for RFID to drive efficiency, reduce costs, and improve operational processes. Based on the product types, there are three segments: tags, readers, and software and services. Among them, the reader market is leading the market. As the range of RFID applications expands across industries such as retail, healthcare, logistics, and manufacturing, the demand for RFID readers increases. These readers are essential for capturing data from RFID tags and facilitating various use cases, driving overall market growth. RFID readers are integral to supply chain optimisation efforts in Canada. They enable real-time tracking of goods, improving visibility and traceability throughout the supply chain. As companies prioritise efficiency in logistics, the demand for RFID readers increases. RFID technology, including readers, is increasingly adopted in the Canadian healthcare sector for patient tracking, asset management, and medication tracking. The healthcare industry's focus on improving patient care and operational efficiency drives the demand for RFID readers. Canada's adoption of Industry 4.0 principles, characterised by the integration of digital technologies into industrial processes, may drive the demand for RFID readers. As part of the broader technological landscape, RFID readers play a role in data collection and automation. In terms of the tag types active and passive, the passive is lead market. In retail and supply chain management, there is often a need for item-level tagging to track individual products. Passive RFID tags are suitable for this purpose, and the cost efficiency allows businesses to deploy RFID technology on a larger scale. Retailers in Canada often leverage passive RFID for inventory management. The technology enables accurate and efficient tracking of items on store shelves, reducing out-of-stock instances and improving overall inventory accuracy. According to the frequency, it is segmented into low frequency, high frequency, and ultra-high frequency. Among them, the low frequency significantly contributes to the market. LF RFID is well-suited for applications where close proximity identification is required. In sectors such as access control, LF RFID is often used for security purposes where a short read range is sufficient for authentication. LF RFID is commonly employed in access control systems, including door entry systems and employee access cards. The technology allows for secure and contactless authentication, enhancing convenience and security in various settings. In certain asset tracking applications, especially those requiring close-range identification, LF RFID is chosen. This can include tracking and managing assets in environments such as libraries, warehouses, and manufacturing facilities. Based on the end user, they are bifurcated into Retail, Healthcare, Logistics & Supply Chain, Transportation, Aerospace & Defence, Animal Tracking/Agriculture, Commercial, Security & Access Control, and Others, among them in Canada. Healthcare is a growing market. RFID helps healthcare organisations in Canada manage and track medical equipment, devices, and assets efficiently. This reduces the time spent searching for equipment, improves asset utilisation, and ensures that critical medical tools are readily available when needed. RFID is utilised for patient tracking and identification within healthcare facilities. This includes tracking patients throughout their journey in the hospital, ensuring accurate identification during procedures, and preventing errors related to patient misidentification. Considered in this report: • Geography: Canada • Historic year: 2018 • Base year: 2023 • Estimated year: 2024 • Forecast year: 2029 Aspects covered in this report: • Canada Radio-Frequency Identification (RFID) market with its value and forecast along with its segments • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation By Products Types: • Tags • Readers • Software & Services By Tag Types: • Passive • Active By Frequency Types: • Low Frequency • High Frequency • Ultra-High Frequency By End User • Retail • Healthcare • Logistics & Supply Chain • Transportation • Aerospace & Defense • Animal Tracking/Agriculture • Commercial • Security and Access Control • Others The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and list out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, and annual reports of companies, analyzing the government-generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers into regional aspects, tier aspects, age groups, and gender. Once we have primary data with us we started verifying the details obtained from secondary sources. Intended audience: This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the Radio Frequency Identification industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.