Selected research
Industry Research
Industrial Automation Industry Research Report 2026
Market perspective
The global Industrial Automation market was valued at US$ million in 2025 and is projected to reach US$ million by 2032, implying a CAGR of % over 2026–2032.
North America: the Industrial Automation market is projected to increase from US$ million in 2026 to US$ million by 2032, reflecting a CAGR of % over 2026–2032. Europe: the Industrial Automation market is projected to rise from US$ million in 2026 to US$ million by 2032, registering a CAGR of % over 2026–2032. Asia Pacific: the Industrial Automation market is expected to grow from US$ million in 2026 to US$ million by 2032, at a CAGR of % over 2026–2032. Leading global service providers of Industrial Automation include Siemens, Schneider Electric, ABB, Mitsubishi Electric, Rockwell Automation, Hitachi, Emerson, Bosch and Honeywell, among others; in 2025, the top three vendors together accounted for approximately % of global revenue.
Report Scope
Read the full market overview
This report quantifies the global Industrial Automation market in terms of revenue (US$ million) and, where applicable, service volume (k units), using 2024 as the base year and providing annual historical and forecast data for 2021–2032.
It standardizes definitions of service Types and end-use Applications, harmonizes provider attribution, and delivers comparable time series by company, Type, Application, and region or country, including indicative price bands (US$/k units) and concentration ratios (CR5/CR10). Outputs are intended to support service design, budgeting, capacity planning, and benchmarking for providers, platforms, channel partners, and investors; the report also reviews technology shifts and notable service innovations relevant to Industrial Automation.
Key Companies & Market Share Insights
This section profiles leading service providers with 2021–2025 results and a 2026–2032 outlook—covering revenue, market share, price bands, service portfolio and client mix, regional and channel mix, and key developments (M&A, network expansion, certifications). It also provides global revenue, average price, and—where applicable—volume metrics by provider, and calculates CR5/CR10 and rank changes to support comparative benchmarking.
Industrial Automation Market by Company
Siemens
Schneider Electric
ABB
Mitsubishi Electric
Rockwell Automation
Hitachi
Emerson
Bosch
Honeywell
Valmet
FANUC
Danaher
KUKA
Keyence
Endress+Hauser
Phoenix Contact
Omron
Delta Electronics
Fuji Electric
Shenzhen Inovance Technology
Yokogawa Electric
SAP
LS Electric
IBM
GE
Oracle
Parker Hannifin
Pepperl+Fuchs
FFT Produktionssysteme
Kollmorgen (Regal Rexnord)
Orise
Wolong Electric Group
HollySys
Leadshine Technology
Industrial Automation Segment by Type
Hardware
Software
Solution and Service
Industrial Automation Segment by Application
Chemicals, Petrochemicals, Oil & Gas
Automotive & Transportation
Food, Beverage & Consumer Packaged Goods (CPG)
Pharmaceuticals, Biotechnology, Life Sciences & Medical
Logistics, Warehousing, Marine & Ports
Mining, Metals, Cement & Glass
Pulp, Paper, Tissue & Industrial Packaging
Electronics, 3C, Semiconductor & Photovoltaic
Lithium Battery & Energy Storage
Power Generation & Utilities
Industrial Automation Segment by Region
North America
United States
Canada
Mexico
Europe
Germany
France
U.K.
Italy
Spain
Russia
Netherlands
Nordic Countries
Asia-Pacific
China
Japan
South Korea
India
Australia
Taiwan
Southeast Asia
South America
Brazil
Argentina
Chile
Middle East & Africa
Saudi Arabia
Israel
United Arab Emirates
Turkey
Iran
Egypt
Key Drivers & Barriers
High-impact rendering factors and drivers have been studied in this report to aid the readers to understand the general development. Moreover, the report includes restraints and challenges that may act as stumbling blocks on the way of the players. This will assist the users to be attentive and make informed decisions related to business. Specialists have also laid their focus on the upcoming business prospects.
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 Industrial Automation 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 Industrial Automation 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 Industrial Automation.
7. This report helps stakeholders to identify some of the key players in the market and understand their valuable contribution.
Chapter Outline
Chapter 1: Research objectives, research methods, data sources, data cross-validation;
Chapter 2: Introduces the report scope of the report, executive summary of different market segments (product type, 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 3: Provides the analysis of various market segments product types, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 4: Provides the analysis of various market segments application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 5: Introduces executive summary of global market size, regional market size, this section also introduces the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by companies in the industry, and the analysis of relevant policies in the industry.
Chapter 6: Detailed analysis of Industrial Automation companies’ competitive landscape, revenue market share, latest development plan, merger, and acquisition information, etc.
Chapter 7, 8, 9, 10, 11: North America, Europe, Asia Pacific, South America, Middle East and Africa segment by country. 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, and capacity of each country in the world.
Chapter 12: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including revenue, gross margin, product introduction, recent development, etc.
Chapter 13: The main points and conclusions of the report.
More report detail
Tables and figures
Scope & coverage.
Types
- Hardware
- Software
- Solution and Service
Applications
- Chemicals, Petrochemicals, Oil & Gas
- Automotive & Transportation
- Food, Beverage & Consumer Packaged Goods (CPG)
- Pharmaceuticals, Biotechnology, Life Sciences & Medical
- Logistics, Warehousing, Marine & Ports
- Mining, Metals, Cement & Glass
- Pulp, Paper, Tissue & Industrial Packaging
- Electronics, 3C, Semiconductor & Photovoltaic
- Lithium Battery & Energy Storage
- Power Generation & Utilities
Companies covered
- Siemens
- Schneider Electric
- ABB
- Mitsubishi Electric
- Rockwell Automation
- Hitachi
- Emerson
- Bosch
- Honeywell
- Valmet
- FANUC
- Danaher
- KUKA
- Keyence
- Endress+Hauser
- Phoenix Contact
- Omron
- Delta Electronics
- Fuji Electric
- Shenzhen Inovance Technology
- Yokogawa Electric
- SAP
- LS Electric
- IBM
- GE
- Oracle
- Parker Hannifin
- Pepperl+Fuchs
- FFT Produktionssysteme
- Kollmorgen (Regal Rexnord)
- Orise
- Wolong Electric Group
- HollySys
- Leadshine Technology
Inside the report.
1 Preface
- 1.1 Scope of Report
- 1.2 Reasons for Doing This Study
- 1.3 Research Methodology
- 1.4 Research Process
- 1.5 Data Source
- 1.5.1 Secondary Sources
- 1.5.2 Primary Sources
2 Market Overview
- 2.1 Product Definition
- 2.2 Industrial Automation by Type
- 2.2.1 Market Value Comparison by Type (2021 VS 2025 VS 2032)
- 2.2.2 Hardware
- 2.2.3 Software
- 2.2.4 Solution and Service
- 2.3 Industrial Automation by Application
- 2.3.1 Market Value Comparison by Application (2021 VS 2025 VS 2032)
- 2.3.2 Chemicals, Petrochemicals, Oil & Gas
- 2.3.3 Automotive & Transportation
- 2.3.4 Food, Beverage & Consumer Packaged Goods (CPG)
- 2.3.5 Pharmaceuticals, Biotechnology, Life Sciences & Medical
- 2.3.6 Logistics, Warehousing, Marine & Ports
- 2.3.7 Mining, Metals, Cement & Glass
- 2.3.8 Pulp, Paper, Tissue & Industrial Packaging
- 2.3.9 Electronics, 3C, Semiconductor & Photovoltaic
- 2.3.10 Lithium Battery & Energy Storage
- 2.3.11 Power Generation & Utilities
- 2.4 Assumptions and Limitations
3 Industrial Automation Breakdown Data by Type
- 3.1 Global Industrial Automation Historic Market Size by Type (2021-2026)
- 3.2 Global Industrial Automation Forecasted Market Size by Type (2027-2032)
4 Industrial Automation Breakdown Data by Application
- 4.1 Global Industrial Automation Historic Market Size by Application (2021-2026)
- 4.2 Global Industrial Automation Forecasted Market Size by Application (2027-2032)
5 Global Growth Trends
- 5.1 Global Industrial Automation Market Perspective (2021-2032)
- 5.2 Global Industrial Automation Growth Trends by Region
- 5.2.1 Global Industrial Automation Market Size by Region: 2021 VS 2025 VS 2032
- 5.2.2 Industrial Automation Historic Market Size by Region (2021-2026)
- 5.2.3 Industrial Automation Forecasted Market Size by Region (2027-2032)
- 5.3 Industrial Automation Market Dynamics
- 5.3.1 Industrial Automation Industry Trends
- 5.3.2 Industrial Automation Market Drivers
- 5.3.3 Industrial Automation Market Challenges
- 5.3.4 Industrial Automation Market Restraints
6 Market Competitive Landscape by Players
- 6.1 Global Top Industrial Automation Players by Revenue
- 6.1.1 Global Top Industrial Automation Players by Revenue (2021-2026)
- 6.1.2 Global Industrial Automation Revenue Market Share by Players (2021-2026)
- 6.2 Global Industrial Automation Industry Players Ranking, 2023 VS 2024 VS 2025
- 6.3 Global Key Players of Industrial Automation Head Office and Area Served
- 6.4 Global Industrial Automation Players, Product Type & Application
- 6.5 Global Industrial Automation Manufacturers Established Date
- 6.6 Global Industrial Automation Market CR5 and HHI
- 6.7 Global Players Mergers & Acquisition
7 North America
- 7.1 North America Industrial Automation Market Size (2021-2032)
- 7.2 North America Industrial Automation Market Growth Rate by Country: 2021 VS 2025 VS 2032
- 7.3 North America Industrial Automation Market Size by Country (2021-2026)
- 7.4 North America Industrial Automation Market Size by Country (2027-2032)
- 7.5 United States
- 7.5 United States
- 7.6 Canada
- 7.7 Mexico
8 Europe
- 8.1 Europe Industrial Automation Market Size (2021-2032)
- 8.2 Europe Industrial Automation Market Growth Rate by Country: 2021 VS 2025 VS 2032
- 8.3 Europe Industrial Automation Market Size by Country (2021-2026)
- 8.4 Europe Industrial Automation Market Size by Country (2027-2032)
- 8.5 Germany
- 8.6 France
- 8.7 U.K.
- 8.8 Italy
- 8.9 Spain
- 8.10 Russia
- 8.11 Netherlands
- 8.12 Nordic Countries
9 Asia-Pacific
- 9.1 Asia-Pacific Industrial Automation Market Size (2021-2032)
- 9.2 Asia-Pacific Industrial Automation Market Growth Rate by Country: 2021 VS 2025 VS 2032
- 9.3 Asia-Pacific Industrial Automation Market Size by Country (2021-2026)
- 9.4 Asia-Pacific Industrial Automation Market Size by Country (2027-2032)
- 9.5 China
- 9.6 Japan
- 9.7 South Korea
- 9.8 India
- 9.9 Australia
- 9.10 China Taiwan
- 9.11 Southeast Asia
10 South America
- 10.1 South America Industrial Automation Market Size (2021-2032)
- 10.2 South America Industrial Automation Market Growth Rate by Country: 2021 VS 2025 VS 2032
- 10.3 South America Industrial Automation Market Size by Country (2021-2026)
- 10.4 South America Industrial Automation Market Size by Country (2027-2032)
- 10.5 Brazil
- 10.6 Argentina
- 10.7 Chile
- 10.8 Colombia
- 10.9 Peru
11 Middle East & Africa
- 11.1 Middle East & Africa Industrial Automation Market Size (2021-2032)
- 11.2 Middle East & Africa Industrial Automation Market Growth Rate by Country: 2021 VS 2025 VS 2032
- 11.3 Middle East & Africa Industrial Automation Market Size by Country (2021-2026)
- 11.4 Middle East & Africa Industrial Automation Market Size by Country (2027-2032)
- 11.5 Saudi Arabia
- 11.6 Israel
- 11.7 United Arab Emirates
- 11.8 Turkey
- 11.9 Iran
- 11.10 Egypt
12 Players Profiled
- 12.1 Siemens
- 12.1.1 Siemens Company Information
- 12.1.2 Siemens Business Overview
- 12.1.3 Siemens Revenue in Industrial Automation Business (2021-2026)
- 12.1.4 Siemens Industrial Automation Product Portfolio
- 12.1.5 Siemens Recent Developments
- 12.2 Schneider Electric
- 12.2.1 Schneider Electric Company Information
- 12.2.2 Schneider Electric Business Overview
- 12.2.3 Schneider Electric Revenue in Industrial Automation Business (2021-2026)
- 12.2.4 Schneider Electric Industrial Automation Product Portfolio
- 12.2.5 Schneider Electric Recent Developments
- 12.3 ABB
- 12.3.1 ABB Company Information
- 12.3.2 ABB Business Overview
- 12.3.3 ABB Revenue in Industrial Automation Business (2021-2026)
- 12.3.4 ABB Industrial Automation Product Portfolio
- 12.3.5 ABB Recent Developments
- 12.4 Mitsubishi Electric
- 12.4.1 Mitsubishi Electric Company Information
- 12.4.2 Mitsubishi Electric Business Overview
- 12.4.3 Mitsubishi Electric Revenue in Industrial Automation Business (2021-2026)
- 12.4.4 Mitsubishi Electric Industrial Automation Product Portfolio
- 12.4.5 Mitsubishi Electric Recent Developments
- 12.5 Rockwell Automation
- 12.5.1 Rockwell Automation Company Information
- 12.5.2 Rockwell Automation Business Overview
- 12.5.3 Rockwell Automation Revenue in Industrial Automation Business (2021-2026)
- 12.5.4 Rockwell Automation Industrial Automation Product Portfolio
- 12.5.5 Rockwell Automation Recent Developments
- 12.6 Hitachi
- 12.6.1 Hitachi Company Information
- 12.6.2 Hitachi Business Overview
- 12.6.3 Hitachi Revenue in Industrial Automation Business (2021-2026)
- 12.6.4 Hitachi Industrial Automation Product Portfolio
- 12.6.5 Hitachi Recent Developments
- 12.7 Emerson
- 12.7.1 Emerson Company Information
- 12.7.2 Emerson Business Overview
- 12.7.3 Emerson Revenue in Industrial Automation Business (2021-2026)
- 12.7.4 Emerson Industrial Automation Product Portfolio
- 12.7.5 Emerson Recent Developments
- 12.8 Bosch
- 12.8.1 Bosch Company Information
- 12.8.2 Bosch Business Overview
- 12.8.3 Bosch Revenue in Industrial Automation Business (2021-2026)
- 12.8.4 Bosch Industrial Automation Product Portfolio
- 12.8.5 Bosch Recent Developments
- 12.9 Honeywell
- 12.9.1 Honeywell Company Information
- 12.9.2 Honeywell Business Overview
- 12.9.3 Honeywell Revenue in Industrial Automation Business (2021-2026)
- 12.9.4 Honeywell Industrial Automation Product Portfolio
- 12.9.5 Honeywell Recent Developments
- 12.10 Valmet
- 12.10.1 Valmet Company Information
- 12.10.2 Valmet Business Overview
- 12.10.3 Valmet Revenue in Industrial Automation Business (2021-2026)
- 12.10.4 Valmet Industrial Automation Product Portfolio
- 12.10.5 Valmet Recent Developments
- 12.11 FANUC
- 12.11.1 FANUC Company Information
- 12.11.2 FANUC Business Overview
- 12.11.3 FANUC Revenue in Industrial Automation Business (2021-2026)
- 12.11.4 FANUC Industrial Automation Product Portfolio
- 12.11.5 FANUC Recent Developments
- 12.12 Danaher
- 12.12.1 Danaher Company Information
- 12.12.2 Danaher Business Overview
- 12.12.3 Danaher Revenue in Industrial Automation Business (2021-2026)
- 12.12.4 Danaher Industrial Automation Product Portfolio
- 12.12.5 Danaher Recent Developments
- 12.13 KUKA
- 12.13.1 KUKA Company Information
- 12.13.2 KUKA Business Overview
- 12.13.3 KUKA Revenue in Industrial Automation Business (2021-2026)
- 12.13.4 KUKA Industrial Automation Product Portfolio
- 12.13.5 KUKA Recent Developments
- 12.14 Keyence
- 12.14.1 Keyence Company Information
- 12.14.2 Keyence Business Overview
- 12.14.3 Keyence Revenue in Industrial Automation Business (2021-2026)
- 12.14.4 Keyence Industrial Automation Product Portfolio
- 12.14.5 Keyence Recent Developments
- 12.15 Endress+Hauser
- 12.15.1 Endress+Hauser Company Information
- 12.15.2 Endress+Hauser Business Overview
- 12.15.3 Endress+Hauser Revenue in Industrial Automation Business (2021-2026)
- 12.15.4 Endress+Hauser Industrial Automation Product Portfolio
- 12.15.5 Endress+Hauser Recent Developments
- 12.16 Phoenix Contact
- 12.16.1 Phoenix Contact Company Information
- 12.16.2 Phoenix Contact Business Overview
- 12.16.3 Phoenix Contact Revenue in Industrial Automation Business (2021-2026)
- 12.16.4 Phoenix Contact Industrial Automation Product Portfolio
- 12.16.5 Phoenix Contact Recent Developments
- 12.17 Omron
- 12.17.1 Omron Company Information
- 12.17.2 Omron Business Overview
- 12.17.3 Omron Revenue in Industrial Automation Business (2021-2026)
- 12.17.4 Omron Industrial Automation Product Portfolio
- 12.17.5 Omron Recent Developments
- 12.18 Delta Electronics
- 12.18.1 Delta Electronics Company Information
- 12.18.2 Delta Electronics Business Overview
- 12.18.3 Delta Electronics Revenue in Industrial Automation Business (2021-2026)
- 12.18.4 Delta Electronics Industrial Automation Product Portfolio
- 12.18.5 Delta Electronics Recent Developments
- 12.19 Fuji Electric
- 12.19.1 Fuji Electric Company Information
- 12.19.2 Fuji Electric Business Overview
- 12.19.3 Fuji Electric Revenue in Industrial Automation Business (2021-2026)
- 12.19.4 Fuji Electric Industrial Automation Product Portfolio
- 12.19.5 Fuji Electric Recent Developments
- 12.20 Shenzhen Inovance Technology
- 12.20.1 Shenzhen Inovance Technology Company Information
- 12.20.2 Shenzhen Inovance Technology Business Overview
- 12.20.3 Shenzhen Inovance Technology Revenue in Industrial Automation Business (2021-2026)
- 12.20.4 Shenzhen Inovance Technology Industrial Automation Product Portfolio
- 12.20.5 Shenzhen Inovance Technology Recent Developments
- 12.21 Yokogawa Electric
- 12.21.1 Yokogawa Electric Company Information
- 12.21.2 Yokogawa Electric Business Overview
- 12.21.3 Yokogawa Electric Revenue in Industrial Automation Business (2021-2026)
- 12.21.4 Yokogawa Electric Industrial Automation Product Portfolio
- 12.21.5 Yokogawa Electric Recent Developments
- 12.22 SAP
- 12.22.1 SAP Company Information
- 12.22.2 SAP Business Overview
- 12.22.3 SAP Revenue in Industrial Automation Business (2021-2026)
- 12.22.4 SAP Industrial Automation Product Portfolio
- 12.22.5 SAP Recent Developments
- 12.23 LS Electric
- 12.23.1 LS Electric Company Information
- 12.23.2 LS Electric Business Overview
- 12.23.3 LS Electric Revenue in Industrial Automation Business (2021-2026)
- 12.23.4 LS Electric Industrial Automation Product Portfolio
- 12.23.5 LS Electric Recent Developments
- 12.24 IBM
- 12.24.1 IBM Company Information
- 12.24.2 IBM Business Overview
- 12.24.3 IBM Revenue in Industrial Automation Business (2021-2026)
- 12.24.4 IBM Industrial Automation Product Portfolio
- 12.24.5 IBM Recent Developments
- 12.25 GE
- 12.25.1 GE Company Information
- 12.25.2 GE Business Overview
- 12.25.3 GE Revenue in Industrial Automation Business (2021-2026)
- 12.25.4 GE Industrial Automation Product Portfolio
- 12.25.5 GE Recent Developments
- 12.26 Oracle
- 12.26.1 Oracle Company Information
- 12.26.2 Oracle Business Overview
- 12.26.3 Oracle Revenue in Industrial Automation Business (2021-2026)
- 12.26.4 Oracle Industrial Automation Product Portfolio
- 12.26.5 Oracle Recent Developments
- 12.27 Parker Hannifin
- 12.27.1 Parker Hannifin Company Information
- 12.27.2 Parker Hannifin Business Overview
- 12.27.3 Parker Hannifin Revenue in Industrial Automation Business (2021-2026)
- 12.27.4 Parker Hannifin Industrial Automation Product Portfolio
- 12.27.5 Parker Hannifin Recent Developments
- 12.28 Pepperl+Fuchs
- 12.28.1 Pepperl+Fuchs Company Information
- 12.28.2 Pepperl+Fuchs Business Overview
- 12.28.3 Pepperl+Fuchs Revenue in Industrial Automation Business (2021-2026)
- 12.28.4 Pepperl+Fuchs Industrial Automation Product Portfolio
- 12.28.5 Pepperl+Fuchs Recent Developments
- 12.29 FFT Produktionssysteme
- 12.29.1 FFT Produktionssysteme Company Information
- 12.29.2 FFT Produktionssysteme Business Overview
- 12.29.3 FFT Produktionssysteme Revenue in Industrial Automation Business (2021-2026)
- 12.29.4 FFT Produktionssysteme Industrial Automation Product Portfolio
- 12.29.5 FFT Produktionssysteme Recent Developments
- 12.30 Kollmorgen (Regal Rexnord)
- 12.30.1 Kollmorgen (Regal Rexnord) Company Information
- 12.30.2 Kollmorgen (Regal Rexnord) Business Overview
- 12.30.3 Kollmorgen (Regal Rexnord) Revenue in Industrial Automation Business (2021-2026)
- 12.30.4 Kollmorgen (Regal Rexnord) Industrial Automation Product Portfolio
- 12.30.5 Kollmorgen (Regal Rexnord) Recent Developments
- 12.31 Orise
- 12.31.1 Orise Company Information
- 12.31.2 Orise Business Overview
- 12.31.3 Orise Revenue in Industrial Automation Business (2021-2026)
- 12.31.4 Orise Industrial Automation Product Portfolio
- 12.31.5 Orise Recent Developments
- 12.32 Wolong Electric Group
- 12.32.1 Wolong Electric Group Company Information
- 12.32.2 Wolong Electric Group Business Overview
- 12.32.3 Wolong Electric Group Revenue in Industrial Automation Business (2021-2026)
- 12.32.4 Wolong Electric Group Industrial Automation Product Portfolio
- 12.32.5 Wolong Electric Group Recent Developments
- 12.33 HollySys
- 12.33.1 HollySys Company Information
- 12.33.2 HollySys Business Overview
- 12.33.3 HollySys Revenue in Industrial Automation Business (2021-2026)
- 12.33.4 HollySys Industrial Automation Product Portfolio
- 12.33.5 HollySys Recent Developments
- 12.34 Leadshine Technology
- 12.34.1 Leadshine Technology Company Information
- 12.34.2 Leadshine Technology Business Overview
- 12.34.3 Leadshine Technology Revenue in Industrial Automation Business (2021-2026)
- 12.34.4 Leadshine Technology Industrial Automation Product Portfolio
- 12.34.5 Leadshine Technology Recent Developments
13 Report Conclusion
14 Disclaimer
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