Identiv, Inc. announced its Singapore transponder facility is fast approaching 350M+ units for specialty radio frequency identification (RFID) products through 2023. The company secured globally recognized compliance certifications and performance metrics to deliver accelerated growth in innovative IoT and RFID solutions. RFID and near field communication (NFC) are connective technologies enabling the rapid expansion of the IoT as the need to exchange more data between objects increases. Investment firm Craig-Hallum estimates the IoT market should grow at a 20% CAGR over several years, approaching a $1T market longer-term. As more products request specialized RFID technology, Identiv is uniquely positioned to accelerate growth.
Identiv continues to build a team with best-in-class engineering and operations talent to drive RFID business growth and expansion in its Singapore Center of Excellence in the Serangoon North cluster. The company has invested substantially in the Singapore production site and will continue to further its scale beyond the nine-figure production capabilities with premier manufacturing, converting, and encoding equipment.