Selected research
Market Analysis & Forecast
Global Object Motion Sensors Market Analysis and Forecast 2026-2032
Market perspective
The global Object Motion Sensors market is projected to grow from US$ million in 2026 to US$ million by 2032, at a Compound Annual Growth Rate (CAGR) of % during the forecast period.
Object Motion Sensors's global sales reached XX (k units) with a value of US$ XX Million, marking an change of XX% compared to the previous year. This performance has positioned Multi IR as the global sales leader, a title it has maintained for several consecutive years. Notably, Multi IR's performance in primary markets is also remarkable. In the Chinese market, sales were XX (k units), a change of XX% from the previous year. In Europe, sales were XX (k units), showing a year-on-year of XX%. In the US, sales were XX (k units), a year-on-year change of XX%.
The major global manufacturers in the Object Motion Sensors market include Multi IR, Salzer Electronics Limited, D-Link, Bosch Sensortec, NXP Semiconductor, STMicroelectronics, Microchip Technology, InvenSense and Kionix, etc. In 2025, the top three vendors accounted for approximately % of the revenue.
Read the full market overview
In terms of production side, this report researches the Object Motion Sensors production, growth rate, market share by manufacturers and by region (region level and country level), from 2021 to 2026, and forecast to 2032.
In terms of consumption side, this report focuses on the sales of Object Motion Sensors by region (region level and country level), by Company, by Type and by Application. from 2021 to 2026 and forecast to 2032.
This report presents an overview of global market for Object Motion Sensors, 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.
This report researches the key producers of Object Motion Sensors, also provides the consumption of main regions and countries. Of the upcoming market potential for Object Motion Sensors, 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 Object Motion Sensors sales, revenue, market share and industry ranking of main manufacturers, data from 2021 to 2026. Identification of the major stakeholders in the global Object Motion Sensors 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 Object Motion Sensors sales, projected growth trends, production technology, application and end-user industry.
Object Motion Sensors Segment by Company
Multi IR
Salzer Electronics Limited
D-Link
Bosch Sensortec
NXP Semiconductor
STMicroelectronics
Microchip Technology
InvenSense
Kionix
Honeywell
Murata
Analog Devices
KEMET
MEMSIC
Object Motion Sensors Segment by Type
Passive Infrared (PIR) Sensors
Microwave Sensors
Ultrasonic Sensors
Others
Object Motion Sensors Segment by Application
Security Systems
Home Automation
Automotive
Others
Object Motion Sensors 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 Object Motion Sensors 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 Object Motion Sensors 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 Object Motion Sensors.
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: Object Motion Sensors 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 Object Motion Sensors 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 Object Motion Sensors 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, Object Motion Sensors 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
- Passive Infrared (PIR) Sensors
- Microwave Sensors
- Ultrasonic Sensors
- Others
Applications
- Security Systems
- Home Automation
- Automotive
- Others
Companies covered
- Multi IR
- Salzer Electronics Limited
- D-Link
- Bosch Sensortec
- NXP Semiconductor
- STMicroelectronics
- Microchip Technology
- InvenSense
- Kionix
- Honeywell
- Murata
- Analog Devices
- KEMET
- MEMSIC
Inside the report.
1 Market Overview
- 1.1 Product Definition
- 1.2 Object Motion Sensors Market by Type
- 1.2.1 Global Object Motion Sensors Market Size by Type, 2021 VS 2025 VS 2032
- 1.2.2 Passive Infrared (PIR) Sensors
- 1.2.3 Microwave Sensors
- 1.2.4 Ultrasonic Sensors
- 1.2.5 Others
- 1.3 Object Motion Sensors Market by Application
- 1.3.1 Global Object Motion Sensors Market Size by Application, 2021 VS 2025 VS 2032
- 1.3.2 Security Systems
- 1.3.3 Home Automation
- 1.3.4 Automotive
- 1.3.5 Others
- 1.4 Assumptions and Limitations
- 1.5 Study Goals and Objectives
2 Object Motion Sensors Market Dynamics
- 2.1 Object Motion Sensors Industry Trends
- 2.2 Object Motion Sensors Industry Drivers
- 2.3 Object Motion Sensors Industry Opportunities and Challenges
- 2.4 Object Motion Sensors Industry Restraints
3 Global Object Motion Sensors Production Overview
- 3.1 Global Object Motion Sensors Production Capacity (2021-2032)
- 3.2 Global Object Motion Sensors Production by Region: 2021 VS 2025 VS 2032
- 3.3 Global Object Motion Sensors Production by Region
- 3.3.1 Global Object Motion Sensors Production by Region (2021-2026)
- 3.3.2 Global Object Motion Sensors Production by Region (2027-2032)
- 3.3.3 Global Object Motion Sensors 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 Object Motion Sensors Revenue Estimates and Forecasts (2021-2032)
- 4.2 Global Object Motion Sensors Revenue by Region
- 4.2.1 Global Object Motion Sensors Revenue by Region: 2021 VS 2025 VS 2032
- 4.2.2 Global Object Motion Sensors Revenue by Region (2021-2026)
- 4.2.3 Global Object Motion Sensors Revenue by Region (2027-2032)
- 4.2.4 Global Object Motion Sensors Revenue Market Share by Region (2021-2032)
- 4.3 Global Object Motion Sensors Sales Estimates and Forecasts 2021-2032
- 4.4 Global Object Motion Sensors Sales by Region
- 4.4.1 Global Object Motion Sensors Sales by Region: 2021 VS 2025 VS 2032
- 4.4.2 Global Object Motion Sensors Sales by Region (2021-2026)
- 4.4.3 Global Object Motion Sensors Sales by Region (2027-2032)
- 4.4.4 Global Object Motion Sensors 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 Object Motion Sensors Revenue by Manufacturers
- 5.1.1 Global Object Motion Sensors Revenue by Manufacturers (2021-2026)
- 5.1.2 Global Object Motion Sensors Revenue Market Share by Manufacturers (2021-2026)
- 5.1.3 Global Object Motion Sensors Manufacturers Revenue Share Top 10 and Top 5 in 2025
- 5.2 Global Object Motion Sensors Sales by Manufacturers
- 5.2.1 Global Object Motion Sensors Sales by Manufacturers (2021-2026)
- 5.2.2 Global Object Motion Sensors Sales Market Share by Manufacturers (2021-2026)
- 5.2.3 Global Object Motion Sensors Manufacturers Sales Share Top 10 and Top 5 in 2025
- 5.3 Global Object Motion Sensors Sales Price by Manufacturers (2021-2026)
- 5.4 Global Object Motion Sensors Key Manufacturers Ranking, 2024 VS 2025 VS 2026
- 5.5 Global Object Motion Sensors Key Manufacturers Manufacturing Sites & Headquarters
- 5.6 Global Object Motion Sensors Manufacturers, Product Type & Application
- 5.7 Global Object Motion Sensors Manufacturers Commercialization Time
- 5.8 Market Competitive Analysis
- 5.8.1 Global Object Motion Sensors Market CR5 and HHI
- 5.8.2 2025 Object Motion Sensors Tier 1, Tier 2, and Tier 3
6 Object Motion Sensors Market by Type
- 6.1 Global Object Motion Sensors Revenue by Type
- 6.1.1 Global Object Motion Sensors Revenue by Type (2021-2032) & (US$ Million)
- 6.1.2 Global Object Motion Sensors Revenue Market Share by Type (2021-2032)
- 6.2 Global Object Motion Sensors Sales by Type
- 6.2.1 Global Object Motion Sensors Sales by Type (2021-2032) & (k units)
- 6.2.2 Global Object Motion Sensors Sales Market Share by Type (2021-2032)
- 6.3 Global Object Motion Sensors Price by Type
7 Object Motion Sensors Market by Application
- 7.1 Global Object Motion Sensors Revenue by Application
- 7.1.1 Global Object Motion Sensors Revenue by Application (2021-2032) & (US$ Million)
- 7.1.2 Global Object Motion Sensors Revenue Market Share by Application (2021-2032)
- 7.2 Global Object Motion Sensors Sales by Application
- 7.2.1 Global Object Motion Sensors Sales by Application (2021-2032) & (k units)
- 7.2.2 Global Object Motion Sensors Sales Market Share by Application (2021-2032)
- 7.3 Global Object Motion Sensors Price by Application
8 Company Profiles
- 8.1 Multi IR
- 8.1.1 Multi IR Company Information
- 8.1.2 Multi IR Business Overview
- 8.1.3 Multi IR Object Motion Sensors Sales, Revenue, Price and Gross Margin (2021-2026)
- 8.1.4 Multi IR Object Motion Sensors Product Portfolio
- 8.1.5 Multi IR Recent Developments
- 8.2 Salzer Electronics Limited
- 8.2.1 Salzer Electronics Limited Company Information
- 8.2.2 Salzer Electronics Limited Business Overview
- 8.2.3 Salzer Electronics Limited Object Motion Sensors Sales, Revenue, Price and Gross Margin (2021-2026)
- 8.2.4 Salzer Electronics Limited Object Motion Sensors Product Portfolio
- 8.2.5 Salzer Electronics Limited Recent Developments
- 8.3 D-Link
- 8.3.1 D-Link Company Information
- 8.3.2 D-Link Business Overview
- 8.3.3 D-Link Object Motion Sensors Sales, Revenue, Price and Gross Margin (2021-2026)
- 8.3.4 D-Link Object Motion Sensors Product Portfolio
- 8.3.5 D-Link Recent Developments
- 8.4 Bosch Sensortec
- 8.4.1 Bosch Sensortec Company Information
- 8.4.2 Bosch Sensortec Business Overview
- 8.4.3 Bosch Sensortec Object Motion Sensors Sales, Revenue, Price and Gross Margin (2021-2026)
- 8.4.4 Bosch Sensortec Object Motion Sensors Product Portfolio
- 8.4.5 Bosch Sensortec Recent Developments
- 8.5 NXP Semiconductor
- 8.5.1 NXP Semiconductor Company Information
- 8.5.2 NXP Semiconductor Business Overview
- 8.5.3 NXP Semiconductor Object Motion Sensors Sales, Revenue, Price and Gross Margin (2021-2026)
- 8.5.4 NXP Semiconductor Object Motion Sensors Product Portfolio
- 8.5.5 NXP Semiconductor Recent Developments
- 8.6 STMicroelectronics
- 8.6.1 STMicroelectronics Company Information
- 8.6.2 STMicroelectronics Business Overview
- 8.6.3 STMicroelectronics Object Motion Sensors Sales, Revenue, Price and Gross Margin (2021-2026)
- 8.6.4 STMicroelectronics Object Motion Sensors Product Portfolio
- 8.6.5 STMicroelectronics Recent Developments
- 8.7 Microchip Technology
- 8.7.1 Microchip Technology Company Information
- 8.7.2 Microchip Technology Business Overview
- 8.7.3 Microchip Technology Object Motion Sensors Sales, Revenue, Price and Gross Margin (2021-2026)
- 8.7.4 Microchip Technology Object Motion Sensors Product Portfolio
- 8.7.5 Microchip Technology Recent Developments
- 8.8 InvenSense
- 8.8.1 InvenSense Company Information
- 8.8.2 InvenSense Business Overview
- 8.8.3 InvenSense Object Motion Sensors Sales, Revenue, Price and Gross Margin (2021-2026)
- 8.8.4 InvenSense Object Motion Sensors Product Portfolio
- 8.8.5 InvenSense Recent Developments
- 8.9 Kionix
- 8.9.1 Kionix Company Information
- 8.9.2 Kionix Business Overview
- 8.9.3 Kionix Object Motion Sensors Sales, Revenue, Price and Gross Margin (2021-2026)
- 8.9.4 Kionix Object Motion Sensors Product Portfolio
- 8.9.5 Kionix Recent Developments
- 8.10 Honeywell
- 8.10.1 Honeywell Company Information
- 8.10.2 Honeywell Business Overview
- 8.10.3 Honeywell Object Motion Sensors Sales, Revenue, Price and Gross Margin (2021-2026)
- 8.10.4 Honeywell Object Motion Sensors Product Portfolio
- 8.10.5 Honeywell Recent Developments
- 8.11 Murata
- 8.11.1 Murata Company Information
- 8.11.2 Murata Business Overview
- 8.11.3 Murata Object Motion Sensors Sales, Revenue, Price and Gross Margin (2021-2026)
- 8.11.4 Murata Object Motion Sensors Product Portfolio
- 8.11.5 Murata Recent Developments
- 8.12 Analog Devices
- 8.12.1 Analog Devices Company Information
- 8.12.2 Analog Devices Business Overview
- 8.12.3 Analog Devices Object Motion Sensors Sales, Revenue, Price and Gross Margin (2021-2026)
- 8.12.4 Analog Devices Object Motion Sensors Product Portfolio
- 8.12.5 Analog Devices Recent Developments
- 8.13 KEMET
- 8.13.1 KEMET Company Information
- 8.13.2 KEMET Business Overview
- 8.13.3 KEMET Object Motion Sensors Sales, Revenue, Price and Gross Margin (2021-2026)
- 8.13.4 KEMET Object Motion Sensors Product Portfolio
- 8.13.5 KEMET Recent Developments
- 8.14 MEMSIC
- 8.14.1 MEMSIC Company Information
- 8.14.2 MEMSIC Business Overview
- 8.14.3 MEMSIC Object Motion Sensors Sales, Revenue, Price and Gross Margin (2021-2026)
- 8.14.4 MEMSIC Object Motion Sensors Product Portfolio
- 8.14.5 MEMSIC Recent Developments
9 North America
- 9.1 North America Object Motion Sensors Market Size by Type
- 9.1.1 North America Object Motion Sensors Revenue by Type (2021-2032)
- 9.1.2 North America Object Motion Sensors Sales by Type (2021-2032)
- 9.1.3 North America Object Motion Sensors Price by Type (2021-2032)
- 9.2 North America Object Motion Sensors Market Size by Application
- 9.2.1 North America Object Motion Sensors Revenue by Application (2021-2032)
- 9.2.2 North America Object Motion Sensors Sales by Application (2021-2032)
- 9.2.3 North America Object Motion Sensors Price by Application (2021-2032)
- 9.3 North America Object Motion Sensors Market Size by Country
- 9.3.1 North America Object Motion Sensors Revenue Grow Rate by Country (2021 VS 2025 VS 2032)
- 9.3.2 North America Object Motion Sensors Sales by Country (2021 VS 2025 VS 2032)
- 9.3.3 North America Object Motion Sensors Price by Country (2021-2032)
- 9.3.4 United States
- 9.3.5 Canada
- 9.3.6 Mexico
10 Europe
- 10.1 Europe Object Motion Sensors Market Size by Type
- 10.1.1 Europe Object Motion Sensors Revenue by Type (2021-2032)
- 10.1.2 Europe Object Motion Sensors Sales by Type (2021-2032)
- 10.1.3 Europe Object Motion Sensors Price by Type (2021-2032)
- 10.2 Europe Object Motion Sensors Market Size by Application
- 10.2.1 Europe Object Motion Sensors Revenue by Application (2021-2032)
- 10.2.2 Europe Object Motion Sensors Sales by Application (2021-2032)
- 10.2.3 Europe Object Motion Sensors Price by Application (2021-2032)
- 10.3 Europe Object Motion Sensors Market Size by Country
- 10.3.1 Europe Object Motion Sensors Revenue Grow Rate by Country (2021 VS 2025 VS 2032)
- 10.3.2 Europe Object Motion Sensors Sales by Country (2021 VS 2025 VS 2032)
- 10.3.3 Europe Object Motion Sensors 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 Object Motion Sensors Market Size by Type
- 11.1.1 China Object Motion Sensors Revenue by Type (2021-2032)
- 11.1.2 China Object Motion Sensors Sales by Type (2021-2032)
- 11.1.3 China Object Motion Sensors Price by Type (2021-2032)
- 11.2 China Object Motion Sensors Market Size by Application
- 11.2.1 China Object Motion Sensors Revenue by Application (2021-2032)
- 11.2.2 China Object Motion Sensors Sales by Application (2021-2032)
- 11.2.3 China Object Motion Sensors Price by Application (2021-2032)
12 Asia (Excluding China)
- 12.1 Asia Object Motion Sensors Market Size by Type
- 12.1.1 Asia Object Motion Sensors Revenue by Type (2021-2032)
- 12.1.2 Asia Object Motion Sensors Sales by Type (2021-2032)
- 12.1.3 Asia Object Motion Sensors Price by Type (2021-2032)
- 12.2 Asia Object Motion Sensors Market Size by Application
- 12.2.1 Asia Object Motion Sensors Revenue by Application (2021-2032)
- 12.2.2 Asia Object Motion Sensors Sales by Application (2021-2032)
- 12.2.3 Asia Object Motion Sensors Price by Application (2021-2032)
- 12.3 Asia Object Motion Sensors Market Size by Country
- 12.3.1 Asia Object Motion Sensors Revenue Grow Rate by Country (2021 VS 2025 VS 2032)
- 12.3.2 Asia Object Motion Sensors Sales by Country (2021 VS 2025 VS 2032)
- 12.3.3 Asia Object Motion Sensors 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 Object Motion Sensors Market Size by Type
- 13.1.1 SAMEA Object Motion Sensors Revenue by Type (2021-2032)
- 13.1.2 SAMEA Object Motion Sensors Sales by Type (2021-2032)
- 13.1.3 SAMEA Object Motion Sensors Price by Type (2021-2032)
- 13.2 SAMEA Object Motion Sensors Market Size by Application
- 13.2.1 SAMEA Object Motion Sensors Revenue by Application (2021-2032)
- 13.2.2 SAMEA Object Motion Sensors Sales by Application (2021-2032)
- 13.2.3 SAMEA Object Motion Sensors Price by Application (2021-2032)
- 13.3 SAMEA Object Motion Sensors Market Size by Country
- 13.3.1 SAMEA Object Motion Sensors Revenue Grow Rate by Country (2021 VS 2025 VS 2032)
- 13.3.2 SAMEA Object Motion Sensors Sales by Country (2021 VS 2025 VS 2032)
- 13.3.3 SAMEA Object Motion Sensors 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 Object Motion Sensors Value Chain Analysis
- 14.1.1 Object Motion Sensors Key Raw Materials
- 14.1.2 Raw Materials Key Suppliers
- 14.1.3 Manufacturing Cost Structure
- 14.1.4 Object Motion Sensors Production Mode & Process
- 14.2 Object Motion Sensors Sales Channels Analysis
- 14.2.1 Direct Comparison with Distribution Share
- 14.2.2 Object Motion Sensors Distributors
- 14.2.3 Object Motion Sensors 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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