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Identity Verification Market to Grow by USD 16.92 Billion (2024-2028) with eID Cards and Smart Infrastructure Driving Demand, Report on How AI Redefines Landscape – Technavio

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NEW YORK, Nov. 27, 2024 /PRNewswire/ — Report with market evolution powered by AI – The global identity verification market size is estimated to grow by USD 16.92 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  20.3%  during the forecast period. Increase in digitalization with electronic id (eid) cards and smart infrastructure initiatives is driving market growth, with a trend towards growing adoption of bring your own device (BYOD) among enterprises. However, privacy and security concerns of data transferred through iot  poses a challenge.Key market players include Applied Recognition Corp., Authenteq Tarbena GmbH, Equifax Inc., Experian Plc, GB Group plc, Gen Digital Inc., ID Merit, Intellicheck Inc., Jumio Corp., Khosla Labs Pvt. Ltd., Mastercard Inc., Mitek Systems Inc., Onfido, PXL Vision AG, RELX Plc, Shufti Pro Ltd., Thales Group, TransUnion, UAB iDenfy., and WebID Solutions GmbH.

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Identity Verification Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 20.3%

Market growth 2024-2028

USD 16922.8 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

16.35

Regional analysis

North America, APAC, Europe, South America, and Middle East and Africa

Performing market contribution

North America at 32%

Key countries

US, Australia, UK, Canada, and Germany

Key companies profiled

Applied Recognition Corp., Authenteq Tarbena GmbH, Equifax Inc., Experian Plc, GB Group plc, Gen Digital Inc., ID Merit, Intellicheck Inc., Jumio Corp., Khosla Labs Pvt. Ltd., Mastercard Inc., Mitek Systems Inc., Onfido, PXL Vision AG, RELX Plc, Shufti Pro Ltd., Thales Group, TransUnion, UAB iDenfy., and WebID Solutions GmbH

Market Driver

The Identity Verification Market is experiencing significant growth due to increasing security risks associated with online transactions and digital identities. Businesses in finance, healthcare, emerging markets, and various industries are adopting advanced verification techniques such as artificial intelligence (AI), biometric technologies, and multi-factor authentication to secure their digital services and protect against identity-related theft incidents. These technologies include facial recognition, video analytics, liveness detection, and smart cities’ intelligent border control. The finance sector, in particular, is prioritizing security measures to comply with Anti-Money Laundering (AML) regulations and prevent cyber threats. Healthcare and life sciences, retail and e-commerce, energy and utilities, IT and ITES, and government and defense sectors are also investing in identity verification systems to secure confidential data, client financial details, and personal identifiers. Emerging technologies like blockchain-based identity verification, biometric checks, and cloud-based deployment are gaining popularity for their efficiency and security. However, a lack of awareness and potential losses due to fraudulent activities continue to be concerns for businesses. System integrators and security professionals are providing consulting, biometric devices, and security training to help organizations navigate the complex IT infrastructure and technical expertise required for effective identity verification. The identity verification industry is also addressing regulatory compliance, data analysis, and fraud detection needs across various sectors, including e-commerce, gaming, travel, and cryptocurrency exchanges. The market is expected to continue growing as digitization initiatives increase and cybersecurity needs become more pressing. 

In today’s business landscape, the Bring Your Own Device (BYOD) trend is gaining popularity among enterprises. This shift towards a mobile-first, web next scenario enables employees to access their privileged accounts via mobile devices, enhancing productivity and morale. Privileged users, also known as admin users, possess the authority to manage backend functions of a system. They can create, modify, and delete accounts, alter user roles, adjust settings, and view sensitive data. This streamlined approach allows enterprises to adapt to the evolving work environment while ensuring secure access to critical information. 

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Market Challenges

The Identity Verification Market is facing several challenges in today’s digital world. Security risks associated with online transactions and digital identities require advanced verification techniques to ensure safety. Artificial Intelligence (AI) and biometric technologies are emerging as effective solutions for businesses in finance, healthcare, and emerging markets. However, these technologies also pose new security challenges. Identity-related theft incidents, border controls, and intelligent border control systems using facial recognition, video analytics, and liveness detection are becoming increasingly common. Businesses need to invest in security measures, hire security personnel with technical expertise and security skills, and provide security training to prevent breaches. Regulations such as Anti-Money Laundering (AML) and data privacy concerns demand cloud-based deployment and data analysis for fraud detection and regulatory compliance. The eCommerce, gaming, and travel industries are particularly vulnerable to identity-related fraud and cybercrime. Traditional non-biometric solutions and industry-specific requirements call for fraud mitigation tools and machine learning models. The Identity Verification Industry is continuously evolving with emerging technologies like blockchain-based identity verification and biometric checks. Despite these challenges, the market offers opportunities for system integrators, consulting firms, and corporations to provide efficient and secure identity verification solutions for digital services, digitalization initiatives, and confidential data protection.In today’s security-challenged world, ensuring complete security for IoT systems and data is a formidable task. With the increasing use of customized software modules and connected devices, the number of potential entry points for hackers and cybercriminals grows. Sensitive information transferred through IoT devices is critical and must be protected. The challenge lies in securing the numerous interfaces linking system components. Organizations must implement identity verification solutions to mitigate risks and safeguard their IoT systems and data. Identity verification market offers advanced technologies like multi-factor authentication, biometric verification, and behavioral analytics to strengthen security measures. These solutions provide an additional layer of protection, ensuring only authorized access to IoT systems and data.

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Segment Overview 

This identity verification market report extensively covers market segmentation by  

Component 1.1 Solutions1.2 ServicesType 2.1 Large enterprises2.2 SMEsGeography 3.1 North America3.2 APAC3.3 Europe3.4 South America3.5 Middle East and Africa

1.1 Solutions-  Identity verification solutions are essential for businesses to authenticate the identity of users or customers. These solutions ensure that the person engaging in a process is the true owner of the provided information, preventing unauthorized use, false identities, and fraud. Offline methods include face-to-face verification, where individuals present themselves in person at a company location or institution. Online identity verification methods include knowledge-based authentication, biometric verification, and document verification. The global market for identity verification solutions is projected to expand due to the increasing need for secure and reliable identity verification processes.

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Research Analysis

The Identity Verification Market is witnessing significant growth due to the increasing number of online transactions and the need to secure digital identities. With the rise of emerging technologies such as artificial intelligence (AI) and biometric technologies, verification techniques are becoming more sophisticated and efficient. The finance and healthcare sectors are major contributors to this market, with AML requirements and data breach concerns driving demand. However, emerging markets and businesses in lower-income countries are also adopting identity verification solutions to meet cybersecurity needs and enable digital payment methods. Internet penetration is expanding, but data privacy concerns and cybersecurity risks, including data breaches and cyberattacks, remain significant challenges. Regulations are playing a crucial role in shaping the identity verification industry, with the financial sector and emerging technologies such as blockchain-based identity verification leading the way. On-premise solutions are still prevalent, but cloud-based and hybrid models are gaining popularity. Overall, the identity verification market is expected to continue growing as businesses and individuals seek to secure their digital identities and mitigate risks.

Market Research Overview

The Identity Verification Market is witnessing significant growth due to the increasing number of online transactions and the digitalization of various industries, including finance, healthcare, and emerging markets. Digital identities have become essential in today’s world, and the need for secure verification techniques is more critical than ever. Artificial intelligence (AI) and biometric technologies are playing a crucial role in identity verification, offering enhanced security measures and efficiency. However, with the increasing use of digital services, there are also rising security risks, such as identity-related theft incidents and cyber threats. Businesses across sectors, from BFSI to retail and e-commerce, are implementing identity verification systems to ensure regulatory compliance, prevent fraudulent activities, and protect confidential data. Technologies like facial recognition, video analytics, liveness detection, and multi-factor authentication are being used to verify identities in real-time. Emerging technologies like machine learning (ML) and biometrics are transforming the identity verification industry, offering data-driven verification methods and intelligent border control solutions. However, there are challenges, such as a lack of awareness, potential losses, and data privacy concerns, that need to be addressed. Industry-specific requirements, such as Anti-Money Laundering (AML) regulations and cybersecurity needs, are driving the adoption of identity verification systems in various sectors. Cloud-based deployment and cloud services are becoming increasingly popular due to their cost-effectiveness and scalability. Despite the benefits, there are also concerns around the use of traditional non-biometric solutions and the potential for breaches and data breaches. Security personnel, system integrators, and consulting firms are playing a crucial role in implementing security measures, providing security training, and offering technical expertise to businesses. In conclusion, the identity verification market is a critical component of the digital economy, offering essential security measures and enabling businesses to operate efficiently while protecting confidential data and ensuring regulatory compliance. However, it also presents challenges that need to be addressed to ensure data security and privacy.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ComponentSolutionsServicesTypeLarge EnterprisesSMEsGeographyNorth AmericaAPACEuropeSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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Technology

Broadridge Announces Strategic Investment in CENTRL to Enhance Due Diligence and RFP Solutions for Asset Management and Retirement Industry

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NEW YORK and LONDON, April 20, 2026 /PRNewswire/ — Broadridge Financial Solutions, Inc. (NYSE: BR), a global Fintech leader, today announced a strategic partnership and minority investment in CENTRL, a leading provider of AI-powered due diligence solutions for financial institutions. The partnership enhances Broadridge’s data and analytics solutions for the asset management and retirement advisory industries with leading due diligence technology and expands its AI-enabled capabilities, helping modernize counterparty due diligence and RFP processes through data-driven, innovative technology.

“This partnership represents an important step in expanding our AI-enabled capabilities and delivering greater value for clients across our platform,” said Dan Cwenar, President, Data-Driven Fund Solutions at Broadridge. “By combining Broadridge’s deep industry relationships and data assets with CENTRL’s purpose-built AI technology, we are helping clients modernize due diligence and RFP response workflows, improve operational efficiency and better manage risk, and accumulate more assets.”

The financial services industry continues to face increasing regulatory scrutiny, fragmented counterparty oversight processes and a growing volume of manual and duplicative due diligence requests. By integrating Broadridge’s trusted data and market infrastructure capabilities with CENTRL’s AI-driven due diligence platform, firms can reduce manual touchpoints, eliminate redundant data gathering, improve accuracy and consistency, and strengthen regulatory audit trails.

“Broadridge is a trusted partner to many of the world’s leading financial institutions,” said Sanjeev Dheer, Founder and Chief Executive Officer of CENTRL. “Together, we are bringing AI-driven intelligent automation to some of the industry’s most complex and resource-intensive processes. By embedding AI directly into due diligence, research, and DDQ/RFP response and communication workflows, we can help firms move from manual, fragmented processes to streamlined, data-driven operations.”

Through the partnership, Broadridge will integrate CENTRL’s AI-powered workflow and automation capabilities across solutions serving asset managers, retirement recordkeepers, and retirement advisors. The collaboration includes modernizing Broadridge’s Fi360 RFP Director, embedding Broadridge data into CENTRL’s workflows, and expanding access to AI-driven tools that automate due diligence, RFP responses, and counterparty oversight processes.

Broadridge’s data and analytics business is focused on transforming complex data into actionable insights across the asset management lifecycle—from distribution and investor behavior to operational performance. The integration of CENTRL’s AI-powered due diligence capabilities extends this strategy, connecting data, workflows and automation to help clients streamline counterparty oversight and RFP processes. Together, Broadridge and CENTRL deliver a more unified, data-driven solution that improves efficiency, enhances decision-making and supports asset managers in scaling their businesses.

Additionally, Broadridge clients will now have access to CENTRL’s leading due diligence management and response platforms, including deeper integration with Broadridge’s leading distribution data and analytics, enabling asset managers to improve and scale due diligence, fund and counterparty oversight, and RFP response workflows.

About Broadridge
Broadridge Financial Solutions (NYSE: BR) is a global technology leader with trusted expertise and transformative technology, helping clients and the financial services industry operate, innovate, and grow. We power investing, governance, and communications for our clients – driving operational resiliency, elevating business performance, and transforming investor experiences.

Our technology and operations platforms process and generate over 7 billion communications annually and underpin the daily average trading of over $15 trillion in tokenized and traditional securities globally. A certified Great Place to Work®, Broadridge is part of the S&P 500® Index, employing over 15,000 associates in 21 countries.

For more information, visit www.broadridge.com.

About CENTRL
CENTRL is a Silicon Valley-based technology firm offering an AI-powered Diligence and Response platform for the financial services industry. CENTRL helps Asset Allocators, Asset Managers, Banks, and Service providers automate their diligence, research, and DDQ/RFP response processes with a domain-specific AI platform. CENTRL’s clients include 8 of the top 30 global banks and leading Asset Allocators and Asset Managers across the Americas, Europe, the UK, and Australia.

Media contacts:

Linda Namias
Linda.namias@broadridge.com
631-254-7711

Alice Stephens
Astephens@centrl.ai
414-403-1172

 

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SOURCE Broadridge Financial Solutions, Inc.

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HONEYWELL TO SELL PRODUCTIVITY SOLUTIONS AND SERVICES BUSINESS TO BRADY CORPORATION

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Accelerates portfolio simplification as Honeywell prepares for the planned spin-off of its Aerospace business, on track for Q3 2026

CHARLOTTE, N.C., April 20, 2026 /PRNewswire/ — Honeywell (Nasdaq: HON) today announced that it has agreed to sell its Productivity Solutions and Services (“PSS”) business to Brady Corporation, an international manufacturer of identification and protection solutions, for $1.4 billion in an all-cash transaction. The transaction is expected to be completed in the second half of 2026 and is subject to regulatory approvals and customary closing conditions.

The transaction follows the review of strategic alternatives Honeywell commenced in July 2025 for PSS and its Warehouse and Workflow Solutions (“WWS”) business to further simplify the company’s portfolio alongside the planned spin-off of its Aerospace business, which is expected to be complete in the third quarter of 2026. Honeywell remains actively engaged in its assessment of strategic alternatives for WWS, which operates commercially under the brand names Intelligrated and Transnorm.

“With the PSS divestiture, we are nearing completion of our multi-year portfolio transformation, further accelerating value creation as we prepare to separate our Aerospace and Automation businesses into two independent industry leading public companies. The sale also enables us to continue strengthening our financial and operational focus on the company’s core businesses,” said Vimal Kapur, Chairman and CEO of Honeywell.

“Going forward, PSS will benefit from Brady’s highly complementary and specialized leadership in industrial identification and safety, creating a broader, more integrated offering for warehouse, logistics and manufacturing customers,” Kapur added.

With 2025 revenue of approximately $1.1 billion, PSS is a leading provider of mobile computers, barcode scanners and printing solutions serving the warehouse and logistics market. PSS is currently part of Honeywell’s Industrial Automation (IA) business portfolio.

Brady Corporation (NYSE: BRC) is an international manufacturer and marketer of high-performance labels, signs, safety devices and printing systems for industries that include electronics, manufacturing and aerospace. Brady provides products that enhance safety, security and productivity. The acquisition of PSS will help build Brady’s capabilities in data capture, mobile computing and workflow automation, increasing its portfolio serving industrial and logistics customers, while creating a more integrated, end‑to‑end productivity and safety platform.

This announcement follows the divestiture of Honeywell’s Personal Protective Equipment (PPE) business in 2024 and the spin-off of its Advanced Materials business as Solstice Advanced Materials (Nasdaq: SOLS) in October 2025. It also builds on the prior strategic actions Honeywell has taken to drive organic growth and optimize its portfolio, including announcing approximately $14 billion of accretive and synergistic acquisitions since 2023: Compressor Controls Corporation, SCADAfence, the Access Solutions business from Carrier Global, Civitanavi Systems, CAES Systems, the LNG business from Air Products, Sundyne, Li-ion Tamer and Johnson Matthey’s Catalyst Technologies Business.

Centerview Partners is serving as financial advisor to Honeywell. Kirkland & Ellis LLP,  Baker McKenzie and Womble Bond Dickinson are providing external legal counsel.

About Honeywell 
Honeywell is an integrated operating company serving a broad range of industries and geographies around the world, with a portfolio that is underpinned by our Honeywell Accelerator operating system and Honeywell Forge platform. As a trusted partner, we help organizations solve the world’s toughest, most complex challenges, providing actionable solutions and innovations for aerospace, building automation, industrial automation, process automation, and process technology that help make the world smarter and safer as well as more secure and sustainable. For more news and information on Honeywell, please visit www.honeywell.com/newsroom.

Forward Looking Statement
We describe many of the trends and other factors that drive our business and future results in this release. Such discussions contain forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the Exchange Act), including statements related to the proposed separation of Honeywell from Honeywell Aerospace and the planned sale of the Productivity Solutions and Services and Warehouse and Workflow Solutions businesses. Forward-looking statements are those that address activities, events, or developments that we or our management intend, expect, project, believe, or anticipate will or may occur in the future. They are based on management’s assumptions and assessments in light of past experience and trends, current economic and industry conditions, expected future developments, and other relevant factors, many of which are difficult to predict and outside of our control, including Honeywell’s current expectations, estimates, and projections regarding the proposed separation of Honeywell from Honeywell Aerospace and the planned sale of the Productivity Solutions and Services and Warehouse and Workflow Solutions businesses. They are not guarantees of future performance, and actual results, developments, and business decisions may differ significantly from those envisaged by our forward-looking statements, including the proposed separation of Honeywell from Honeywell Aerospace and the planned sale of the Productivity Solutions and Services and Warehouse and Workflow Solutions businesses, and the anticipated benefits of each. We do not undertake to update or revise any of our forward-looking statements, except as required by applicable securities law. Our forward-looking statements are also subject to material risks and uncertainties, including ongoing macroeconomic and geopolitical risks, such as changes in or application of trade and tax laws and policies, including the impacts of tariffs and other trade barriers and restrictions, lower GDP growth or recession in the U.S. or globally, supply chain disruptions, capital markets volatility, inflation, and certain regional conflicts, including ongoing conflicts in the Middle East, that can affect our performance in both the near- and long-term. In addition, no assurance can be given that any plan, initiative, projection, goal, commitment, expectation, or prospect set forth in this release can or will be achieved. These forward-looking statements should be considered in light of the information included in this release, our Form 10-K, and our other filings with the Securities and Exchange Commission. Any forward-looking plans described herein are not final and may be modified or abandoned at any time.

Contacts:

Media         

Investor Relations

Stacey Jones           

Mark Macaluso

(980) 378-6258         

(704) 627-6118

Stacey.Jones@honeywell.com          

mark.macaluso@honeywell.com

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SOURCE Honeywell

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Technology

Identiv Expands ID-Safe NFC Tag Portfolio to Enable Secure Product Authentication, Tamper Detection, and Traceability

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Expanded portfolio of tamper-evident and tamper-proof NFC tags enables companies to verify authenticity, detect interference, and maintain product integrity across the lifecycle.

SANTA ANA, Calif., April 20, 2026 /PRNewswire/ — Identiv, Inc. (NASDAQ: INVE), a global leader in RFID- and BLE-enabled Internet of Things (IoT) solutions, today announced the expansion of its ID-Safe product family, a portfolio of advanced HF and NFC tags designed to support product authentication, tamper detection, and secure traceability across pharmaceutical, healthcare, retail, food and beverage, electronics, and smart packaging applications.

As companies work to address rising counterfeiting, diversion, and product fraud, there is growing demand for solutions that can verify product authenticity, confirm package integrity, and provide visibility across the product lifecycle.

Identiv’s ID-Safe portfolio addresses these challenges by combining NFC-based product identity with advanced tamper detection and secure authentication. By embedding secure NFC technology directly into tags, ID-Safe transforms product labeling into a digital trust layer – enabling companies to confirm that a product is genuine, verify that it has not been opened or altered, and enable secure digital interaction using standard NFC-enabled smartphones or readers.

“Trust in physical products can’t be assumed anymore – it has to be verified. ID-Safe brings together secure NFC-based identity, tamper detection, and tamper-proof design to enable companies to confirm authenticity and product integrity at any point in the lifecycle, anywhere those interactions occur,” said Andreas Walsner, Global Vice President Sales, Identiv. “It allows organizations to detect interference, prevent fraud, and establish trusted product identity anywhere it matters – from manufacturing through distribution to the point of use – while supporting secure, scalable deployment across real-world operations.”

A trusted, tamper-proof tag portfolio

The ID-Safe portfolio includes a range of NFC tag configurations designed to support diverse applications across pharmaceutical, healthcare, retail, food and beverage, electronics, and smart packaging environments. These include tamper-evident NFC labels that detect and record package opening events, as well as tamper-proof tags with destructible antennas that prevent removal, reuse or product refilling. Select configurations support encrypted authentication using high-security NFC chips, enabling protection against cloning and advanced counterfeiting.

Each ID-Safe tag is encoded with a unique identity and can be linked to cloud-based systems, creating a digital twin of the product. Throughout manufacturing, logistics, and distribution, stakeholders can scan the tag to confirm authenticity and verify that the product remains unopened. Once a package is opened or tampered with, the tag registers an irreversible state change – such as a broken antenna or altered electrical signal – clearly indicating that the product has been compromised.

The ID-Safe product family is designed to help organizations address critical product security challenges, including counterfeiting, gray market diversion, warranty and returns abuse, and product refilling and resale fraud. By making product authenticity and integrity verifiable in real time, ID-Safe helps protect brand value, improve recall and compliance processes, and strengthen trust across the supply chain and with end users.

The products are already deployed in an award-winning NFC-based anti-counterfeiting smart packaging solution for luxury wine producers and collectors, developed in collaboration with ZATAP and Genuine-Analytics.

The ID-Safe portfolio includes multiple configurations with options for different chip types, memory capacities, and form factors.

“Companies can’t afford uncertainty when it comes to product authenticity and integrity. ID-Safe provides a practical way to verify products, detect tampering, and prevent fraud – including refilling, diversion, and unauthorized resale – while enabling secure interaction throughout the product lifecycle. It’s a critical step toward making physical products more secure, traceable, and trusted,” concluded Walsner.

For more information about Identiv’s ID-Safe product family or other IoT solutions, please visit our Product Finder or contact sales@identiv.com

About Identiv
Identiv’s RFID- and BLE-enabled IoT solutions create digital identities for physical objects, enhancing global connectivity for businesses, people, and the planet. Its solutions, integrated into over 2.0 billion applications worldwide, drive innovation across healthcare, logistics, consumer electronics, luxury goods, smart packaging, and more. For additional information, visit identiv.com | Follow us on LinkedIn @Identiv

Media Contact:
Samantha Bryton
samantha@griffin360.com

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SOURCE Identiv

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