APO RESEARCH · REPORT
Spin-Transfer Torque Random Access Memory
The Spin-Transfer Torque Random Access Memory industry can be broken down into several segments, 4 Mb STT-MRAM, 8 Mb STT-MRAM, 16 Mb STT-MRAM, 256Mb STT-MRAM, etc. Across the world, the major players cover Everspin, Avalanche Technology, etc. Spin-transfer-torque random access memory (STT-RAM) is an emerging non-volatile memory technology that stores information as the relative alignment of two ferromagnets in a magnetic tunnel junction stack. Due to high scalability, speed and endurance STT-RAM is being considered as a promising candidate for future universal memory. Spin-transfer-torque random access memory (STT-RAM) started volume production in 2017.
Product & engineering
Understand the product.
The Spin-Transfer Torque Random Access Memory industry can be broken down into several segments, 4 Mb STT-MRAM, 8 Mb STT-MRAM, 16 Mb STT-MRAM, 256Mb STT-MRAM, etc. Across the world, the major players cover Everspin, Avalanche Technology, etc. Spin-transfer-torque random access memory (STT-RAM) is an emerging non-volatile memory technology that stores information as the relative alignment of two ferromagnets in a magnetic tunnel junction stack. Due to high scalability, speed and endurance STT-RAM is being considered as a promising candidate for future universal memory. Spin-transfer-torque random access memory (STT-RAM) started volume production in 2017.
Selected research
Market Analysis & Forecast
Global Spin-Transfer Torque Random Access Memory Market Analysis and Forecast 2026-2032
Market perspective
The Spin-Transfer Torque Random Access Memory industry can be broken down into several segments, 4 Mb STT-MRAM, 8 Mb STT-MRAM, 16 Mb STT-MRAM, 256Mb STT-MRAM, etc. Across the world, the major players cover Everspin, Avalanche Technology, etc. Spin-transfer-torque random access memory (STT-RAM) is an emerging non-volatile memory technology that stores information as the relative alignment of two ferromagnets in a magnetic tunnel junction stack. Due to high scalability, speed and endurance STT-RAM is being considered as a promising candidate for future universal memory. Spin-transfer-torque random access memory (STT-RAM) started volume production in 2017.
Global Spin-Transfer Torque Random Access Memory key players include Everspin, Avalanche Technology, Renesas Electronics, etc. Global top three manufacturers hold a share about 50%. Asia-Pacific is the largest market, with a share about 62%, followed by North America and Europe, both have a share over 37 percent. In terms of product, 16 Mb is the largest segment, with a share over 27%. And in terms of application, the largest application is Industrial, followed by Enterprise Storage, etc.
This report presents an overview of global market for Spin-Transfer Torque Random Access Memory, capacity, output, revenue and price. Analyses of the global market trends, with historic market revenue or sales data for 2021 - 2025, estimates for 2026, and projections of CAGR through 2032.
Read the full market overview
This report researches the key producers of Spin-Transfer Torque Random Access Memory, also provides the consumption of main regions and countries. Of the upcoming market potential for Spin-Transfer Torque Random Access Memory, and key regions or countries of focus to forecast this market into various segments and sub-segments. Country specific data and market value analysis for the U.S., Canada, Mexico, Brazil, China, Japan, South Korea, Southeast Asia, India, Germany, the U.K., Italy, Middle East, Africa, and Other Countries.
This report focuses on the Spin-Transfer Torque Random Access Memory sales, revenue, market share and industry ranking of main manufacturers, data from 2021 to 2026. Identification of the major stakeholders in the global Spin-Transfer Torque Random Access Memory market, and analysis of their competitive landscape and market positioning based on recent developments and segmental revenues. This report will help stakeholders to understand the competitive landscape and gain more insights and position their businesses and market strategies in a better way.
This report analyzes the segments data by Type and by Application, sales, revenue, and price, from 2021 to 2032. Evaluation and forecast the market size for Spin-Transfer Torque Random Access Memory sales, projected growth trends, production technology, application and end-user industry.
Spin-Transfer Torque Random Access Memory Segment by Company
Everspin
Avalanche Technology
Renesas Electronics
Spin-Transfer Torque Random Access Memory Segment by Type
4 Mb STT-MRAM
8 Mb STT-MRAM
16 Mb STT-MRAM
256 Mb STT-MRAM
Others
Spin-Transfer Torque Random Access Memory Segment by Application
Industrial
Enterprise Storage
Aerospace Applications
Others
Spin-Transfer Torque Random Access Memory Segment by Region
North America
United States
Canada
Mexico
Europe
Germany
France
U.K.
Italy
Russia
Spain
Netherlands
Switzerland
Sweden
Poland
Asia-Pacific
China
Japan
South Korea
India
Australia
Taiwan
Southeast Asia
South America
Brazil
Argentina
Chile
Middle East & Africa
Egypt
South Africa
Israel
Türkiye
GCC Countries
Study Objectives
1. To analyze and research the global status and future forecast, involving, production, value, consumption, growth rate (CAGR), market share, historical and forecast.
2. To present the key manufacturers, capacity, production, revenue, market share, and Recent Developments.
3. To split the breakdown data by regions, type, manufacturers, and Application.
4. To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints, and risks.
5. To identify significant trends, drivers, influence factors in global and regions.
6. To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.
Reasons to Buy This Report
1. This report will help the readers to understand the competition within the industries and strategies for the competitive environment to enhance the potential profit. The report also focuses on the competitive landscape of the global Spin-Transfer Torque Random Access Memory market, and introduces in detail the market share, industry ranking, competitor ecosystem, market performance, new product development, operation situation, expansion, and acquisition. etc. of the main players, which helps the readers to identify the main competitors and deeply understand the competition pattern of the market.
2. This report will help stakeholders to understand the global industry status and trends of Spin-Transfer Torque Random Access Memory and provides them with information on key market drivers, restraints, challenges, and opportunities.
3. This report will help stakeholders to understand competitors better and gain more insights to strengthen their position in their businesses. The competitive landscape section includes the market share and rank (in volume and value), competitor ecosystem, new product development, expansion, and acquisition.
4. This report stays updated with novel technology integration, features, and the latest developments in the market.
5. This report helps stakeholders to gain insights into which regions to target globally.
6. This report helps stakeholders to gain insights into the end-user perception concerning the adoption of Spin-Transfer Torque Random Access Memory.
7. This report helps stakeholders to identify some of the key players in the market and understand their valuable contribution.
Chapter Outline
Chapter 1: Introduces the report scope of the report, executive summary of different market segments (by type and by application, etc), including the market size of each market segment, future development potential, and so on. It offers a high-level view of the current state of the market and its likely evolution in the short to mid-term, and long term.
Chapter 2: Introduces the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.
Chapter 3: Spin-Transfer Torque Random Access Memory production/output of global and key producers (regions/countries). It provides a quantitative analysis of the production, and development potential of each producer in the next six years.
Chapter 4: Sales (consumption), revenue of Spin-Transfer Torque Random Access Memory in global, regional level and country level. It provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space of each country in the world.
Chapter 5: Detailed analysis of Spin-Transfer Torque Random Access Memory manufacturers competitive landscape, price, sales, revenue, market share and industry ranking, latest development plan, merger, and acquisition information, etc.
Chapter 6: Provides the analysis of various market segments by type, covering the sales, revenue, average price, and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 7: Provides the analysis of various market segments by application, covering the sales, revenue, average price, and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 8: Provides profiles of key manufacturers, introducing the basic situation of the main companies in the market in detail, including product descriptions and specifications, Spin-Transfer Torque Random Access Memory sales, revenue, price, gross margin, and recent development, etc.
Chapter 9: North America by type, by application and by country, sales, and revenue for each segment.
Chapter 10: Europe by type, by application and by country, sales, and revenue for each segment.
Chapter 11: China by type, by application, sales, and revenue for each segment.
Chapter 12: Asia (Excluding China) by type, by application and by region, sales, and revenue for each segment.
Chapter 13: South America, Middle East and Africa by type, by application and by country, sales, and revenue for each segment.
Chapter 14: Analysis of industrial chain, sales channel, key raw materials, distributors and customers.
Chapter 15: The main concluding insights of the report.
More report detail
Tables and figures
Scope & coverage.
Types
- 4 Mb STT-MRAM
- 8 Mb STT-MRAM
- 16 Mb STT-MRAM
- 256 Mb STT-MRAM
- Others
Applications
- Industrial
- Enterprise Storage
- Aerospace Applications
- Others
Companies covered
- Everspin
- Avalanche Technology
- Renesas Electronics
Inside the report.
1 Market Overview
- 1.1 Product Definition
- 1.2 Spin-Transfer Torque Random Access Memory Market by Type
- 1.2.1 Global Spin-Transfer Torque Random Access Memory Market Size by Type, 2021 VS 2025 VS 2032
- 1.2.2 4 Mb STT-MRAM
- 1.2.3 8 Mb STT-MRAM
- 1.2.4 16 Mb STT-MRAM
- 1.2.5 256 Mb STT-MRAM
- 1.2.6 Others
- 1.3 Spin-Transfer Torque Random Access Memory Market by Application
- 1.3.1 Global Spin-Transfer Torque Random Access Memory Market Size by Application, 2021 VS 2025 VS 2032
- 1.3.2 Industrial
- 1.3.3 Enterprise Storage
- 1.3.4 Aerospace Applications
- 1.3.5 Others
- 1.4 Assumptions and Limitations
- 1.5 Study Goals and Objectives
2 Spin-Transfer Torque Random Access Memory Market Dynamics
- 2.1 Spin-Transfer Torque Random Access Memory Industry Trends
- 2.2 Spin-Transfer Torque Random Access Memory Industry Drivers
- 2.3 Spin-Transfer Torque Random Access Memory Industry Opportunities and Challenges
- 2.4 Spin-Transfer Torque Random Access Memory Industry Restraints
3 Global Spin-Transfer Torque Random Access Memory Production Overview
- 3.1 Global Spin-Transfer Torque Random Access Memory Production Capacity (2021-2032)
- 3.2 Global Spin-Transfer Torque Random Access Memory Production by Region: 2021 VS 2025 VS 2032
- 3.3 Global Spin-Transfer Torque Random Access Memory Production by Region
- 3.3.1 Global Spin-Transfer Torque Random Access Memory Production by Region (2021-2026)
- 3.3.2 Global Spin-Transfer Torque Random Access Memory Production by Region (2027-2032)
- 3.3.3 Global Spin-Transfer Torque Random Access Memory Production Market Share by Region (2021-2032)
- 3.4 North America
- 3.5 Europe
- 3.6 China
- 3.7 Japan
- 3.8 South Korea
4 Global Market Growth Prospects
- 4.1 Global Spin-Transfer Torque Random Access Memory Revenue Estimates and Forecasts (2021-2032)
- 4.2 Global Spin-Transfer Torque Random Access Memory Revenue by Region
- 4.2.1 Global Spin-Transfer Torque Random Access Memory Revenue by Region: 2021 VS 2025 VS 2032
- 4.2.2 Global Spin-Transfer Torque Random Access Memory Revenue by Region (2021-2026)
- 4.2.3 Global Spin-Transfer Torque Random Access Memory Revenue by Region (2027-2032)
- 4.2.4 Global Spin-Transfer Torque Random Access Memory Revenue Market Share by Region (2021-2032)
- 4.3 Global Spin-Transfer Torque Random Access Memory Sales Estimates and Forecasts 2021-2032
- 4.4 Global Spin-Transfer Torque Random Access Memory Sales by Region
- 4.4.1 Global Spin-Transfer Torque Random Access Memory Sales by Region: 2021 VS 2025 VS 2032
- 4.4.2 Global Spin-Transfer Torque Random Access Memory Sales by Region (2021-2026)
- 4.4.3 Global Spin-Transfer Torque Random Access Memory Sales by Region (2027-2032)
- 4.4.4 Global Spin-Transfer Torque Random Access Memory Sales Market Share by Region (2021-2032)
- 4.5 North America
- 4.6 Europe
- 4.7 China
- 4.8 Asia (Excluding China)
- 4.9 South America, Middle East and Africa
5 Market Competitive Landscape by Manufacturers
- 5.1 Global Spin-Transfer Torque Random Access Memory Revenue by Manufacturers
- 5.1.1 Global Spin-Transfer Torque Random Access Memory Revenue by Manufacturers (2021-2026)
- 5.1.2 Global Spin-Transfer Torque Random Access Memory Revenue Market Share by Manufacturers (2021-2026)
- 5.1.3 Global Spin-Transfer Torque Random Access Memory Manufacturers Revenue Share Top 10 and Top 5 in 2025
- 5.2 Global Spin-Transfer Torque Random Access Memory Sales by Manufacturers
- 5.2.1 Global Spin-Transfer Torque Random Access Memory Sales by Manufacturers (2021-2026)
- 5.2.2 Global Spin-Transfer Torque Random Access Memory Sales Market Share by Manufacturers (2021-2026)
- 5.2.3 Global Spin-Transfer Torque Random Access Memory Manufacturers Sales Share Top 10 and Top 5 in 2025
- 5.3 Global Spin-Transfer Torque Random Access Memory Sales Price by Manufacturers (2021-2026)
- 5.4 Global Spin-Transfer Torque Random Access Memory Key Manufacturers Ranking, 2024 VS 2025 VS 2026
- 5.5 Global Spin-Transfer Torque Random Access Memory Key Manufacturers Manufacturing Sites & Headquarters
- 5.6 Global Spin-Transfer Torque Random Access Memory Manufacturers, Product Type & Application
- 5.7 Global Spin-Transfer Torque Random Access Memory Manufacturers Commercialization Time
- 5.8 Market Competitive Analysis
- 5.8.1 Global Spin-Transfer Torque Random Access Memory Market CR5 and HHI
- 5.8.2 2025 Spin-Transfer Torque Random Access Memory Tier 1, Tier 2, and Tier 3
6 Spin-Transfer Torque Random Access Memory Market by Type
- 6.1 Global Spin-Transfer Torque Random Access Memory Revenue by Type
- 6.1.1 Global Spin-Transfer Torque Random Access Memory Revenue by Type (2021-2032) & (US$ Million)
- 6.1.2 Global Spin-Transfer Torque Random Access Memory Revenue Market Share by Type (2021-2032)
- 6.2 Global Spin-Transfer Torque Random Access Memory Sales by Type
- 6.2.1 Global Spin-Transfer Torque Random Access Memory Sales by Type (2021-2032) & (K Units)
- 6.2.2 Global Spin-Transfer Torque Random Access Memory Sales Market Share by Type (2021-2032)
- 6.3 Global Spin-Transfer Torque Random Access Memory Price by Type
7 Spin-Transfer Torque Random Access Memory Market by Application
- 7.1 Global Spin-Transfer Torque Random Access Memory Revenue by Application
- 7.1.1 Global Spin-Transfer Torque Random Access Memory Revenue by Application (2021-2032) & (US$ Million)
- 7.1.2 Global Spin-Transfer Torque Random Access Memory Revenue Market Share by Application (2021-2032)
- 7.2 Global Spin-Transfer Torque Random Access Memory Sales by Application
- 7.2.1 Global Spin-Transfer Torque Random Access Memory Sales by Application (2021-2032) & (K Units)
- 7.2.2 Global Spin-Transfer Torque Random Access Memory Sales Market Share by Application (2021-2032)
- 7.3 Global Spin-Transfer Torque Random Access Memory Price by Application
8 Company Profiles
- 8.1 Everspin
- 8.1.1 Everspin Company Information
- 8.1.2 Everspin Business Overview
- 8.1.3 Everspin Spin-Transfer Torque Random Access Memory Sales, Revenue, Price and Gross Margin (2021-2026)
- 8.1.4 Everspin Spin-Transfer Torque Random Access Memory Product Portfolio
- 8.1.5 Everspin Recent Developments
- 8.2 Avalanche Technology
- 8.2.1 Avalanche Technology Company Information
- 8.2.2 Avalanche Technology Business Overview
- 8.2.3 Avalanche Technology Spin-Transfer Torque Random Access Memory Sales, Revenue, Price and Gross Margin (2021-2026)
- 8.2.4 Avalanche Technology Spin-Transfer Torque Random Access Memory Product Portfolio
- 8.2.5 Avalanche Technology Recent Developments
- 8.3 Renesas Electronics
- 8.3.1 Renesas Electronics Company Information
- 8.3.2 Renesas Electronics Business Overview
- 8.3.3 Renesas Electronics Spin-Transfer Torque Random Access Memory Sales, Revenue, Price and Gross Margin (2021-2026)
- 8.3.4 Renesas Electronics Spin-Transfer Torque Random Access Memory Product Portfolio
- 8.3.5 Renesas Electronics Recent Developments
9 North America
- 9.1 North America Spin-Transfer Torque Random Access Memory Market Size by Type
- 9.1.1 North America Spin-Transfer Torque Random Access Memory Revenue by Type (2021-2032)
- 9.1.2 North America Spin-Transfer Torque Random Access Memory Sales by Type (2021-2032)
- 9.1.3 North America Spin-Transfer Torque Random Access Memory Price by Type (2021-2032)
- 9.2 North America Spin-Transfer Torque Random Access Memory Market Size by Application
- 9.2.1 North America Spin-Transfer Torque Random Access Memory Revenue by Application (2021-2032)
- 9.2.2 North America Spin-Transfer Torque Random Access Memory Sales by Application (2021-2032)
- 9.2.3 North America Spin-Transfer Torque Random Access Memory Price by Application (2021-2032)
- 9.3 North America Spin-Transfer Torque Random Access Memory Market Size by Country
- 9.3.1 North America Spin-Transfer Torque Random Access Memory Revenue Grow Rate by Country (2021 VS 2025 VS 2032)
- 9.3.2 North America Spin-Transfer Torque Random Access Memory Sales by Country (2021 VS 2025 VS 2032)
- 9.3.3 North America Spin-Transfer Torque Random Access Memory Price by Country (2021-2032)
- 9.3.4 United States
- 9.3.5 Canada
- 9.3.6 Mexico
10 Europe
- 10.1 Europe Spin-Transfer Torque Random Access Memory Market Size by Type
- 10.1.1 Europe Spin-Transfer Torque Random Access Memory Revenue by Type (2021-2032)
- 10.1.2 Europe Spin-Transfer Torque Random Access Memory Sales by Type (2021-2032)
- 10.1.3 Europe Spin-Transfer Torque Random Access Memory Price by Type (2021-2032)
- 10.2 Europe Spin-Transfer Torque Random Access Memory Market Size by Application
- 10.2.1 Europe Spin-Transfer Torque Random Access Memory Revenue by Application (2021-2032)
- 10.2.2 Europe Spin-Transfer Torque Random Access Memory Sales by Application (2021-2032)
- 10.2.3 Europe Spin-Transfer Torque Random Access Memory Price by Application (2021-2032)
- 10.3 Europe Spin-Transfer Torque Random Access Memory Market Size by Country
- 10.3.1 Europe Spin-Transfer Torque Random Access Memory Revenue Grow Rate by Country (2021 VS 2025 VS 2032)
- 10.3.2 Europe Spin-Transfer Torque Random Access Memory Sales by Country (2021 VS 2025 VS 2032)
- 10.3.3 Europe Spin-Transfer Torque Random Access Memory Price by Country (2021-2032)
- 10.3.4 Germany
- 10.3.5 France
- 10.3.6 U.K.
- 10.3.7 Italy
- 10.3.8 Russia
- 10.3.9 Spain
- 10.3.10 Netherlands
- 10.3.11 Switzerland
- 10.3.12 Sweden
11 China
- 11.1 China Spin-Transfer Torque Random Access Memory Market Size by Type
- 11.1.1 China Spin-Transfer Torque Random Access Memory Revenue by Type (2021-2032)
- 11.1.2 China Spin-Transfer Torque Random Access Memory Sales by Type (2021-2032)
- 11.1.3 China Spin-Transfer Torque Random Access Memory Price by Type (2021-2032)
- 11.2 China Spin-Transfer Torque Random Access Memory Market Size by Application
- 11.2.1 China Spin-Transfer Torque Random Access Memory Revenue by Application (2021-2032)
- 11.2.2 China Spin-Transfer Torque Random Access Memory Sales by Application (2021-2032)
- 11.2.3 China Spin-Transfer Torque Random Access Memory Price by Application (2021-2032)
12 Asia (Excluding China)
- 12.1 Asia Spin-Transfer Torque Random Access Memory Market Size by Type
- 12.1.1 Asia Spin-Transfer Torque Random Access Memory Revenue by Type (2021-2032)
- 12.1.2 Asia Spin-Transfer Torque Random Access Memory Sales by Type (2021-2032)
- 12.1.3 Asia Spin-Transfer Torque Random Access Memory Price by Type (2021-2032)
- 12.2 Asia Spin-Transfer Torque Random Access Memory Market Size by Application
- 12.2.1 Asia Spin-Transfer Torque Random Access Memory Revenue by Application (2021-2032)
- 12.2.2 Asia Spin-Transfer Torque Random Access Memory Sales by Application (2021-2032)
- 12.2.3 Asia Spin-Transfer Torque Random Access Memory Price by Application (2021-2032)
- 12.3 Asia Spin-Transfer Torque Random Access Memory Market Size by Country
- 12.3.1 Asia Spin-Transfer Torque Random Access Memory Revenue Grow Rate by Country (2021 VS 2025 VS 2032)
- 12.3.2 Asia Spin-Transfer Torque Random Access Memory Sales by Country (2021 VS 2025 VS 2032)
- 12.3.3 Asia Spin-Transfer Torque Random Access Memory Price by Country (2021-2032)
- 12.3.4 Japan
- 12.3.5 South Korea
- 12.3.6 India
- 12.3.7 Australia
- 12.3.8 Taiwan
- 12.3.9 Southeast Asia
13 South America, Middle East and Africa
- 13.1 SAMEA Spin-Transfer Torque Random Access Memory Market Size by Type
- 13.1.1 SAMEA Spin-Transfer Torque Random Access Memory Revenue by Type (2021-2032)
- 13.1.2 SAMEA Spin-Transfer Torque Random Access Memory Sales by Type (2021-2032)
- 13.1.3 SAMEA Spin-Transfer Torque Random Access Memory Price by Type (2021-2032)
- 13.2 SAMEA Spin-Transfer Torque Random Access Memory Market Size by Application
- 13.2.1 SAMEA Spin-Transfer Torque Random Access Memory Revenue by Application (2021-2032)
- 13.2.2 SAMEA Spin-Transfer Torque Random Access Memory Sales by Application (2021-2032)
- 13.2.3 SAMEA Spin-Transfer Torque Random Access Memory Price by Application (2021-2032)
- 13.3 SAMEA Spin-Transfer Torque Random Access Memory Market Size by Country
- 13.3.1 SAMEA Spin-Transfer Torque Random Access Memory Revenue Grow Rate by Country (2021 VS 2025 VS 2032)
- 13.3.2 SAMEA Spin-Transfer Torque Random Access Memory Sales by Country (2021 VS 2025 VS 2032)
- 13.3.3 SAMEA Spin-Transfer Torque Random Access Memory Price by Country (2021-2032)
- 13.3.4 Brazil
- 13.3.5 Argentina
- 13.3.6 Chile
- 13.3.7 Colombia
- 13.3.8 Peru
- 13.3.9 Saudi Arabia
- 13.3.10 Israel
- 13.3.11 UAE
- 13.3.12 Turkey
- 13.3.13 Iran
- 13.3.14 Egypt
14 Value Chain and Sales Channels Analysis
- 14.1 Spin-Transfer Torque Random Access Memory Value Chain Analysis
- 14.1.1 Spin-Transfer Torque Random Access Memory Key Raw Materials
- 14.1.2 Raw Materials Key Suppliers
- 14.1.3 Manufacturing Cost Structure
- 14.1.4 Spin-Transfer Torque Random Access Memory Production Mode & Process
- 14.2 Spin-Transfer Torque Random Access Memory Sales Channels Analysis
- 14.2.1 Direct Comparison with Distribution Share
- 14.2.2 Spin-Transfer Torque Random Access Memory Distributors
- 14.2.3 Spin-Transfer Torque Random Access Memory Customers
15 Concluding Insights
16 Appendix
- 16.1 Reasons for Doing This Study
- 16.2 Research Methodology
- 16.3 Research Process
- 16.4 Authors List of This Report
- 16.5 Data Source
- 16.5.1 Secondary Sources
- 16.5.2 Primary Sources
- 16.6 Disclaimer
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