Bill Burns
Chief Executive Officer at Zebra Technologies
Thank you, Nathan. Turning to Slide 10. Zebra remains well positioned to benefit from secular trends to digitize and automate workflows with our comprehensive portfolio of innovative solutions, including purpose built hardware, software and services. We empower frontline workers to execute tasks more effectively by navigating constant change in real-time to advanced capabilities including automation, prescriptive analytics, machine learning and artificial intelligence.
Zebra continues to demonstrate market leadership through innovation. We have consistently reinvested approximately 10% of our revenues in the research and development to advance our vibrant core and bring new innovative solutions to market. At recent customer events we hosted in North America and EMEA, we unveiled solutions that underscore our commitment to innovation. These include the latest version of our work cloud software utilizing advanced AI and machine learning and new rugged tablets for demanding environments.
We also highlighted a Zebra Kiosk solution offering self checkout, including tap to pay capabilities, which enhance the customer experience and enables frontline associates to focus on higher value tasks. This launch enables us to expand Zebra's addressable market with near adjacent technology that leverages our core software platform. Additionally, we are developing a generative AI mobile computing solution designed to assist frontline workers with sales, merchandising and operating procedures, which we will feature at the National Retail Federation Trade Show in January.
As you see on Slide 11, our customers leverage our solutions to optimize workflows across a broad range of end markets. We empower enterprises to drive productivity and better serve their customers, shoppers and patients. Our relentless focus on innovation continues to drive our competitive differentiation and secure wins. In the second half of this year, we're seeing momentum in large Zebra deployments in North America and EMEA across retail, e-commerce and logistics.
Our customers are beginning to increase investment in our solutions as they absorb the supply chain capacity they built out during the pandemic and look to drive increased productivity. Recent key wins include a technology modernization project at a large e-commerce customer, a mobile computing upgrade at a large retailer to enable the latest software applications, a grocers initiative to replace desktop computers with our mobile devices to drive several front of store use cases and a luxury retailer will deploy work cloud software to optimize in season pricing.
Additionally, the logistics customer in EMEA selected Zebra's new wearable mobile computers to replace a competitor's voice picking solution. This customer expects to improve accuracy and increase employee and customer satisfaction with our solution. Last quarter, I highlighted our success and traction and selling the benefits of enterprise grade devices in healthcare. Our ease of integration into electronic medical record systems has been a competitive differentiator and we recently secured mobile computing and printing wins at large North America hospitals. Our solutions will improve workflows and enable enhanced visibility and tracking of assets, equipment and specimen.
Now turning to Slide 12. We realized double digit sales growth across all vertical markets as demand recovers. Our confidence in sustainable long-term growth is underpinned by several themes that we expect to drive investment in our solutions, including labor and resource constraints, track-and-trace mandates, increased consumer expectations and the need for real-time supply chain visibility.
In closing, we are seeing the broadening of demand recovery in the second half of this year with a more normalized seasonality in sales volumes as we enter the fourth quarter and into 2025. As we look longer term, we maintain strong conviction in the opportunity for Zebra as we elevate our strategic role with our customers through our innovative portfolio of solutions. Our sales and cost initiatives have positioned us well for profitable growth as our end-markets continue to recover.
I will now hand it back to Mike.