ZEBRA TECHNOLOGIES CORP (ZBRA)

Zebra Technologies describes itself as a global leader in the Automatic Identification and Data Capture (AIDC) industry. It designs, manufactures and sells products, software and services that help customers digitize and automate frontline workflows to improve productivity, operational efficiency, regulatory compliance and customer experiences. Its offerings include mobile computers, barcode scanners and imagers, RFID readers, specialty barcode and card printers, real-time location systems (RTLS), labels and other consumables, machine vision, self-serve touchscreen solutions, maintenance, technical support, repair, managed and professional services, and cloud-based software subscriptions.

In the fourth quarter of 2025, the company changed its reportable segments to Connected Frontline (CF) and Asset Visibility and Automation (AVA). CF covers mobile computing (rugged handheld and wearable computers, vehicle-mounted computers, tablets and kiosks, mostly running Android), Elo's point-of-sale, self-service kiosk and interactive touchscreen solutions, workflow optimization software (workforce management, task management, demand sensing, price optimization, prescriptive analytics), and related services. AVA covers barcode and card printing, data capture and fixed industrial scanning, machine vision, RFID and RTLS offerings, supplies and sensors (labels, wristbands, ribbons, cards, RFID tags, temperature-monitoring labels), and related services. Zebra acquired Elo Holdings on September 30, 2025 for $1,303 million in cash, net of cash acquired, and Photoneo, a 3D machine vision developer, on February 28, 2025 for $62 million.

End-users come from retail and e-commerce, manufacturing, transportation and logistics, healthcare, hospitality, the public sector and other industries. Zebra serves them in 179 countries through a direct sales force and more than 10,000 channel partners. It sells mainly through distributors, value-added resellers, independent software vendors, direct marketers and OEMs, and sells software mainly through its direct sales force. Three distributors each accounted for more than 10% of net sales in each of the past three years, representing 29%, 15% and 15% of 2025 net sales. Some seasonality affects sales by region and industry.

The company operates 129 facilities with about 10,700 employees worldwide. Third-party electronics manufacturing services companies and joint design manufacturers perform final assembly of its hardware, primarily in China, Malaysia, Vietnam, Taiwan and Mexico, to Zebra's designs. Zebra controls supplier selection and price negotiations for key components. Products ship to regional distribution centers run by third-party logistics providers or by the company, where some are configured for customers. Competitors include Honeywell, Datalogic, Panasonic, Urovo, Avery Dennison, Sato, Toshiba TEC, TSC, Cognex, Keyence, SICK, Impinj, Diebold Nixdorf, HP and VeriFone, among others.