Zebra Technologies (ZBRA) Bernstein 42nd Annual Strategic Decisions Conference summary

Business overview and strategy

• Focuses on asset visibility, automation, and connected frontline solutions for core markets including retail, e-commerce, transportation logistics, manufacturing, healthcare, and government, serving over 80% of the Fortune 500.

• Operates in two main segments: Asset Intelligence & Tracking and Enterprise Visibility & Mobility, with products like barcode scanners, RFID readers, and mobile devices.

• AI and automation are seen as key growth drivers, with increasing deployment at the frontline of business operations.

• Machine vision and multi-sensing (barcode, RFID, vision) are integral to future asset visibility and workflow automation.

• Recent acquisition of Elo expands automation capabilities, especially in self-service and touchscreen solutions for retail and quick-serve restaurants.

Technology and innovation

• AI models are currently mostly cloud-based but are shifting toward on-device processing, enabled by partnerships with Qualcomm and Google.

• On-device AI allows for cost-effective, offline operations and is expected to drive a hardware upgrade cycle and higher average selling prices.

• Software opportunities include Blueprints and Enablers, enabling customers to build or integrate AI models for specific workflows.

• Machine vision, computer vision, and wearables are expected to play a growing role in asset identification and workflow efficiency.

Market trends and demand

• Broad-based growth across all key markets, with manufacturing and transportation logistics showing renewed strength and upcoming device refresh cycles.

• RFID adoption is expanding beyond apparel to home goods, perishables, and healthcare, driven by the need for inventory visibility and supply chain efficiency.

• Machine vision is a smaller but growing segment, with recent acquisitions and organic development targeting both manufacturing and logistics.

• Healthcare and government sectors are increasing adoption of asset tracking and mobile solutions.