HID Global Acquisition Indicates Growth Expectations for Commercial Laundry Business

HID Global recently announced to have acquired the Invengo Textile Services Business of Invengo Information Technology. The acquisition adds radio frequency identification (RFID) tags, readers and cloud-based inventory management services for linen and laundry management to the company’s RFID portfolio.  

According to MarketsandMarkets – a provider of B2B research on emerging business opportunities and threatsthe global market for commercial laundry offerings is expected to grow at a compounded annual rate of 12.9% from 2020 and 2025. This growth is caused by the expanding hospitality market and health care facilities that require management of everything from bedsheets to medical staff uniforms. The Covid-19 pandemic has also led to a steep rise in the demand for clean and sanitised textiles, driving significant growth in the commercial laundry business worldwide.

The acquisition of the Invengo Textile Services Business extends the company’s identification technologies services to meet the demand for loss prevention capabilities, high-value analytics and real-time inventory visibility that increase efficiency in commercial laundry management. Apart from use in healthcare and hospitality sectors, streamlined linen and laundry management is also needed for staff uniform laundry in industrial settings, such as power and oil plants, transport facilities, and mining, engineering, chemical, construction and utility companies.