Selected research
Market Structure
Global AI-Based Security Systems Market by Size, by Type, by Application, by Region, History and Forecast 2021-2032
Market perspective
The global AI-Based Security Systems market was valued at US$ million in 2026 and is projected to reach US$ million by 2032, implying a CAGR of xx% over 2026-2032.
The US & Canada market for AI-Based Security Systems is projected to increase from US$ million in 2026 to US$ million by 2032, at a CAGR of % over 2026-2032.
The Europe market for AI-Based Security Systems is projected to increase from US$ million in 2026 to US$ million by 2032, at a CAGR of % over 2026-2032.
Read the full market overview
The Asia Pacific market for AI-Based Security Systems is projected to increase from US$ million in 2026 to US$ million by 2032, at a CAGR of % over 2026-2032.
The China market for AI-Based Security Systems is projected to increase from US$ million in 2026 to US$ million by 2032, at a CAGR of % over 2026-2032.
Leading global manufacturers of AI-Based Security Systems include Hangzhou Hikvision Digital Technology Co., Ltd., Zhejiang Dahua Technology Co., Ltd., Verkada, Inc., Bosch Security Systems, Avigilon, FLIR Systems, Axis Communications, Hanwha Vision and Panasonic Corporation, among others. In 2025, the top three vendors together accounted for approximately % of global revenue.
Report Includes
This report provides an overview of the global AI-Based Security Systems market and its size, analyzing global market trends based on historical revenue data for 2021-2025, estimates for 2026, and projected CAGRs through 2032.
The study covers key producers of AI-Based Security Systems and revenue in major regions and countries, assesses future market potential, and highlights priority regions and countries for segmenting the market into sub-sectors, with country-specific market value data for the U.S., Canada, Mexico, Brazil, China, Japan, South Korea, Southeast Asia, India, Germany, the U.K., Italy, the Middle East, Africa, and other countries.
The report also presents AI-Based Security Systems revenue, market share, and industry ranking for the main manufacturers for 2021-2026, identifies the major stakeholders in the global market, and analyzes their competitive landscape and market positioning based on recent developments and segmental revenues.
In addition, the report analyzes segment data by Type and Application—covering revenue and growth rates—for 2021-2032, and evaluates and forecasts the AI-Based Security Systems market size, projected growth trends, production technologies, key applications, and end-use industries.
AI-Based Security Systems Segment by Company
Hangzhou Hikvision Digital Technology Co., Ltd.
Zhejiang Dahua Technology Co., Ltd.
Verkada, Inc.
Bosch Security Systems
Avigilon
FLIR Systems
Axis Communications
Hanwha Vision
Panasonic Corporation
Knightscope, Inc.
IBM Corporation
Cisco Systems, Inc.
Palo Alto Networks, Inc.
Fortinet, Inc.
CrowdStrike Holdings, Inc.
Darktrace plc
Check Point Software Technologies Ltd.
AI-Based Security Systems Segment by Type
On-Premise
Cloud-Based
Hybrid
AI-Based Security Systems Segment by Application
Government & Defense
Banking & Finance (BFSI)
Healthcare
Retail & E-Commerce
Industrial & Manufacturing
Others
AI-Based Security Systems 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 AI-Based Security Systems 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 AI-Based Security Systems 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 AI-Based Security Systems.
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 (product type, application, etc), including the market size of each market segment, future development potential, and so on. Revenue of AI-Based Security Systems in global and regional 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, and capacity of each country in the world. 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: Analysis key trends, drivers, challenges, and opportunities within the global AI-Based Security Systems industry.
Chapter 3: Detailed analysis of AI-Based Security Systems companies' competitive landscape, revenue, market share and industry ranking, latest development plan, merger, and acquisition information, etc.
Chapter 4: Provides the analysis of various market segments by type, covering the revenue, and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 5: Provides the analysis of various market segments by application, covering the revenue, and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 6: Provides profiles of key companies, introducing the basic situation of the main companies in the market in detail, including product descriptions and specifications, AI-Based Security Systemsrevenue, gross margin, and recent development, etc.
Chapter 7: North America (US & Canada) by type, by application and by country, revenue for each segment.
Chapter 8: Europe by type, by application and by country, revenue for each segment.
Chapter 9: China by type, and by application, revenue for each segment.
Chapter 10: Asia (excluding China) by type, by application and by region, revenue for each segment.
Chapter 11: South America, Middle East & Africa by type, by application and by country, revenue for each segment.
Chapter 12: Concluding Insights of the report.
More report detail
Tables and figures
Scope & coverage.
Types
- On-Premise
- Cloud-Based
- Hybrid
Applications
- Government & Defense
- Banking & Finance (BFSI)
- Healthcare
- Retail & E-Commerce
- Industrial & Manufacturing
- Others
Companies covered
- Hangzhou Hikvision Digital Technology Co., Ltd.
- Zhejiang Dahua Technology Co., Ltd.
- Verkada, Inc.
- Bosch Security Systems
- Avigilon
- FLIR Systems
- Axis Communications
- Hanwha Vision
- Panasonic Corporation
- Knightscope, Inc.
- IBM Corporation
- Cisco Systems, Inc.
- Palo Alto Networks, Inc.
- Fortinet, Inc.
- CrowdStrike Holdings, Inc.
- Darktrace plc
- Check Point Software Technologies Ltd.
Inside the report.
1 Market Overview
- 1.1 Product Definition
- 1.2 Market Analysis by Type
- 1.2.1 Global AI-Based Security Systems Market Size Growth Rate by Type: 2021 VS 2025 VS 2032
- 1.2.2 On-Premise
- 1.2.3 Cloud-Based
- 1.2.4 Hybrid
- 1.3 Market Analysis by Application
- 1.3.1 Global AI-Based Security Systems Market Size Growth Rate by Application: 2021 VS 2025 VS 2032
- 1.3.2 Government & Defense
- 1.3.3 Banking & Finance (BFSI)
- 1.3.4 Healthcare
- 1.3.5 Retail & E-Commerce
- 1.3.6 Industrial & Manufacturing
- 1.3.7 Others
- 1.4 Global Market Growth Prospects
- 1.5 Global AI-Based Security Systems Growth Trends by Region
- 1.5.1 Global AI-Based Security Systems Market Size by Region: 2021 VS 2025 VS 2032
- 1.5.2 AI-Based Security Systems Market Size by Region (2021-2026)
- 1.5.3 AI-Based Security Systems Market Size by Region (2027-2032)
- 1.6 Assumptions and Limitations
- 1.7 Study Goals and Objectives
- 1.8 Years Considered
2 Global AI-Based Security Systems Market Dynamics
- 2.1 AI-Based Security Systems Industry Trends
- 2.2 AI-Based Security Systems Industry Drivers
- 2.3 AI-Based Security Systems Industry Opportunities and Challenges
- 2.4 AI-Based Security Systems Industry Restraints
3 Competitive Landscape by Company
- 3.1 Global AI-Based Security Systems Revenue by Company (2021-2026)
- 3.2 Global AI-Based Security Systems Players Revenue Ranking, 2024 VS 2025 VS 2026
- 3.3 Global AI-Based Security Systems Key Company Head office and Area Served
- 3.4 Global AI-Based Security Systems Company, Product Type & Application
- 3.5 Global AI-Based Security Systems Company Establishment Date
- 3.6 Market Competitive Analysis
- 3.6.1 Global AI-Based Security Systems Market CR5 and HHI
- 3.6.2 Global Top 5 and 10 AI-Based Security Systems Players Market Share by Revenue in 2025
- 3.6.3 2025 AI-Based Security Systems Tier 1, Tier 2, and Tier 3
4 AI-Based Security Systems Market by Type
- 4.1 Global AI-Based Security Systems Market Size by Type (2021 VS 2025 VS 2032)
- 4.2 Global AI-Based Security Systems Market Size by Type (2021-2032)
- 4.3 Global AI-Based Security Systems Market Size Share by Type (2021-2032)
5 AI-Based Security Systems Market by Application
- 5.1 Global AI-Based Security Systems Market Size by Application (2021 VS 2025 VS 2032)
- 5.2 Global AI-Based Security Systems Market Size by Application (2021-2032)
- 5.3 Global AI-Based Security Systems Market Size Share by Application (2021-2032)
6 Company Profiles
- 6.1 Hangzhou Hikvision Digital Technology Co., Ltd.
- 6.1.1 Hangzhou Hikvision Digital Technology Co., Ltd. Company Information
- 6.1.2 Hangzhou Hikvision Digital Technology Co., Ltd. Business Overview
- 6.1.3 Hangzhou Hikvision Digital Technology Co., Ltd. AI-Based Security Systems Revenue and Gross Margin (US$ Million) & (2021-2026)
- 6.1.4 Hangzhou Hikvision Digital Technology Co., Ltd. AI-Based Security Systems Product Portfolio
- 6.1.5 Hangzhou Hikvision Digital Technology Co., Ltd. Recent Developments
- 6.2 Zhejiang Dahua Technology Co., Ltd.
- 6.2.1 Zhejiang Dahua Technology Co., Ltd. Company Information
- 6.2.2 Zhejiang Dahua Technology Co., Ltd. Business Overview
- 6.2.3 Zhejiang Dahua Technology Co., Ltd. AI-Based Security Systems Revenue and Gross Margin (US$ Million) & (2021-2026)
- 6.2.4 Zhejiang Dahua Technology Co., Ltd. AI-Based Security Systems Product Portfolio
- 6.2.5 Zhejiang Dahua Technology Co., Ltd. Recent Developments
- 6.3 Verkada, Inc.
- 6.3.1 Verkada, Inc. Company Information
- 6.3.2 Verkada, Inc. Business Overview
- 6.3.3 Verkada, Inc. AI-Based Security Systems Revenue and Gross Margin (US$ Million) & (2021-2026)
- 6.3.4 Verkada, Inc. AI-Based Security Systems Product Portfolio
- 6.3.5 Verkada, Inc. Recent Developments
- 6.4 Bosch Security Systems
- 6.4.1 Bosch Security Systems Company Information
- 6.4.2 Bosch Security Systems Business Overview
- 6.4.3 Bosch Security Systems AI-Based Security Systems Revenue and Gross Margin (US$ Million) & (2021-2026)
- 6.4.4 Bosch Security Systems AI-Based Security Systems Product Portfolio
- 6.4.5 Bosch Security Systems Recent Developments
- 6.5 Avigilon
- 6.5.1 Avigilon Company Information
- 6.5.2 Avigilon Business Overview
- 6.5.3 Avigilon AI-Based Security Systems Revenue and Gross Margin (US$ Million) & (2021-2026)
- 6.5.4 Avigilon AI-Based Security Systems Product Portfolio
- 6.5.5 Avigilon Recent Developments
- 6.6 FLIR Systems
- 6.6.1 FLIR Systems Company Information
- 6.6.2 FLIR Systems Business Overview
- 6.6.3 FLIR Systems AI-Based Security Systems Revenue and Gross Margin (US$ Million) & (2021-2026)
- 6.6.4 FLIR Systems AI-Based Security Systems Product Portfolio
- 6.6.5 FLIR Systems Recent Developments
- 6.7 Axis Communications
- 6.7.1 Axis Communications Company Information
- 6.7.2 Axis Communications Business Overview
- 6.7.3 Axis Communications AI-Based Security Systems Revenue and Gross Margin (US$ Million) & (2021-2026)
- 6.7.4 Axis Communications AI-Based Security Systems Product Portfolio
- 6.7.5 Axis Communications Recent Developments
- 6.8 Hanwha Vision
- 6.8.1 Hanwha Vision Company Information
- 6.8.2 Hanwha Vision Business Overview
- 6.8.3 Hanwha Vision AI-Based Security Systems Revenue and Gross Margin (US$ Million) & (2021-2026)
- 6.8.4 Hanwha Vision AI-Based Security Systems Product Portfolio
- 6.8.5 Hanwha Vision Recent Developments
- 6.9 Panasonic Corporation
- 6.9.1 Panasonic Corporation Company Information
- 6.9.2 Panasonic Corporation Business Overview
- 6.9.3 Panasonic Corporation AI-Based Security Systems Revenue and Gross Margin (US$ Million) & (2021-2026)
- 6.9.4 Panasonic Corporation AI-Based Security Systems Product Portfolio
- 6.9.5 Panasonic Corporation Recent Developments
- 6.10 Knightscope, Inc.
- 6.10.1 Knightscope, Inc. Company Information
- 6.10.2 Knightscope, Inc. Business Overview
- 6.10.3 Knightscope, Inc. AI-Based Security Systems Revenue and Gross Margin (US$ Million) & (2021-2026)
- 6.10.4 Knightscope, Inc. AI-Based Security Systems Product Portfolio
- 6.10.5 Knightscope, Inc. Recent Developments
- 6.11 IBM Corporation
- 6.11.1 IBM Corporation Company Information
- 6.11.2 IBM Corporation Business Overview
- 6.11.3 IBM Corporation AI-Based Security Systems Revenue and Gross Margin (US$ Million) & (2021-2026)
- 6.11.4 IBM Corporation AI-Based Security Systems Product Portfolio
- 6.11.5 IBM Corporation Recent Developments
- 6.12 Cisco Systems, Inc.
- 6.12.1 Cisco Systems, Inc. Company Information
- 6.12.2 Cisco Systems, Inc. Business Overview
- 6.12.3 Cisco Systems, Inc. AI-Based Security Systems Revenue and Gross Margin (US$ Million) & (2021-2026)
- 6.12.4 Cisco Systems, Inc. AI-Based Security Systems Product Portfolio
- 6.12.5 Cisco Systems, Inc. Recent Developments
- 6.13 Palo Alto Networks, Inc.
- 6.13.1 Palo Alto Networks, Inc. Company Information
- 6.13.2 Palo Alto Networks, Inc. Business Overview
- 6.13.3 Palo Alto Networks, Inc. AI-Based Security Systems Revenue and Gross Margin (US$ Million) & (2021-2026)
- 6.13.4 Palo Alto Networks, Inc. AI-Based Security Systems Product Portfolio
- 6.13.5 Palo Alto Networks, Inc. Recent Developments
- 6.14 Fortinet, Inc.
- 6.14.1 Fortinet, Inc. Company Information
- 6.14.2 Fortinet, Inc. Business Overview
- 6.14.3 Fortinet, Inc. AI-Based Security Systems Revenue and Gross Margin (US$ Million) & (2021-2026)
- 6.14.4 Fortinet, Inc. AI-Based Security Systems Product Portfolio
- 6.14.5 Fortinet, Inc. Recent Developments
- 6.15 CrowdStrike Holdings, Inc.
- 6.15.1 CrowdStrike Holdings, Inc. Company Information
- 6.15.2 CrowdStrike Holdings, Inc. Business Overview
- 6.15.3 CrowdStrike Holdings, Inc. AI-Based Security Systems Revenue and Gross Margin (US$ Million) & (2021-2026)
- 6.15.4 CrowdStrike Holdings, Inc. AI-Based Security Systems Product Portfolio
- 6.15.5 CrowdStrike Holdings, Inc. Recent Developments
- 6.16 Darktrace plc
- 6.16.1 Darktrace plc Company Information
- 6.16.2 Darktrace plc Business Overview
- 6.16.3 Darktrace plc AI-Based Security Systems Revenue and Gross Margin (US$ Million) & (2021-2026)
- 6.16.4 Darktrace plc AI-Based Security Systems Product Portfolio
- 6.16.5 Darktrace plc Recent Developments
- 6.17 Check Point Software Technologies Ltd.
- 6.17.1 Check Point Software Technologies Ltd. Company Information
- 6.17.2 Check Point Software Technologies Ltd. Business Overview
- 6.17.3 Check Point Software Technologies Ltd. AI-Based Security Systems Revenue and Gross Margin (US$ Million) & (2021-2026)
- 6.17.4 Check Point Software Technologies Ltd. AI-Based Security Systems Product Portfolio
- 6.17.5 Check Point Software Technologies Ltd. Recent Developments
7 North America
- 7.1 North America AI-Based Security Systems Market Size (2021-2032)
- 7.2 North America AI-Based Security Systems Market Size by Type
- 7.2.1 North America AI-Based Security Systems Market Size by Type (2021-2026)
- 7.2.2 North America AI-Based Security Systems Market Size by Type (2027-2032)
- 7.2.3 North America AI-Based Security Systems Market Share by Type (2021-2032)
- 7.3 North America AI-Based Security Systems Market Size by Application
- 7.3.1 North America AI-Based Security Systems Market Size by Application (2021-2026)
- 7.3.2 North America AI-Based Security Systems Market Size by Application (2027-2032)
- 7.3.3 North America AI-Based Security Systems Market Share by Application (2021-2032)
- 7.4 North America AI-Based Security Systems Market Size by Country
- 7.4.1 North America AI-Based Security Systems Market Size by Country (2021 VS 2025 VS 2032)
- 7.4.2 North America AI-Based Security Systems Market Size by Country (2021-2026)
- 7.4.3 North America AI-Based Security Systems Market Size by Country (2027-2032)
- 7.4.4 North America AI-Based Security Systems Market Share by Country (2021-2032)
- 7.4.5 United States
- 7.4.6 Canada
- 7.4.7 Mexico
8 Europe
- 8.1 Europe AI-Based Security Systems Market Size (2021-2032)
- 8.2 Europe AI-Based Security Systems Market Size by Type
- 8.2.1 Europe AI-Based Security Systems Market Size by Type (2021-2026)
- 8.2.2 Europe AI-Based Security Systems Market Size by Type (2027-2032)
- 8.2.3 Europe AI-Based Security Systems Market Share by Type (2021-2032)
- 8.3 Europe AI-Based Security Systems Market Size by Application
- 8.3.1 Europe AI-Based Security Systems Market Size by Application (2021-2026)
- 8.3.2 Europe AI-Based Security Systems Market Size by Application (2027-2032)
- 8.3.3 Europe AI-Based Security Systems Market Share by Application (2021-2032)
- 8.4 Europe AI-Based Security Systems Market Size by Country
- 8.4.1 Europe AI-Based Security Systems Market Size by Country (2021 VS 2025 VS 2032)
- 8.4.2 Europe AI-Based Security Systems Market Size by Country (2021-2026)
- 8.4.3 Europe AI-Based Security Systems Market Size by Country (2027-2032)
- 8.4.4 Europe AI-Based Security Systems Market Share by Country (2021-2032)
- 8.4.5 Germany
- 8.4.6 France
- 8.4.7 U.K.
- 8.4.8 Italy
- 8.4.9 Russia
- 8.4.10 Nordic Countries
9 China
- 9.1 China AI-Based Security Systems Market Size (2021-2032)
- 9.2 China AI-Based Security Systems Market Size by Type
- 9.2.1 China AI-Based Security Systems Market Size by Type (2021-2026)
- 9.2.2 China AI-Based Security Systems Market Size by Type (2027-2032)
- 9.2.3 China AI-Based Security Systems Market Share by Type (2021-2032)
- 9.3 China AI-Based Security Systems Market Size by Application
- 9.3.1 China AI-Based Security Systems Market Size by Application (2021-2026)
- 9.3.2 China AI-Based Security Systems Market Size by Application (2027-2032)
- 9.3.3 China AI-Based Security Systems Market Share by Application (2021-2032)
10 Asia (Excluding China)
- 10.1 Asia AI-Based Security Systems Market Size (2021-2032)
- 10.2 Asia AI-Based Security Systems Market Size by Type
- 10.2.1 Asia AI-Based Security Systems Market Size by Type (2021-2026)
- 10.2.2 Asia AI-Based Security Systems Market Size by Type (2027-2032)
- 10.2.3 Asia AI-Based Security Systems Market Share by Type (2021-2032)
- 10.3 Asia AI-Based Security Systems Market Size by Application
- 10.3.1 Asia AI-Based Security Systems Market Size by Application (2021-2026)
- 10.3.2 Asia AI-Based Security Systems Market Size by Application (2027-2032)
- 10.3.3 Asia AI-Based Security Systems Market Share by Application (2021-2032)
- 10.4 Asia AI-Based Security Systems Market Size by Country
- 10.4.1 Asia AI-Based Security Systems Market Size by Country (2021 VS 2025 VS 2032)
- 10.4.2 Asia AI-Based Security Systems Market Size by Country (2021-2026)
- 10.4.3 Asia AI-Based Security Systems Market Size by Country (2027-2032)
- 10.4.4 Asia AI-Based Security Systems Market Share by Country (2021-2032)
- 10.4.5 Japan
- 10.4.6 South Korea
- 10.4.7 Taiwan
- 10.4.8 Southeast Asia
- 10.4.9 India
- 10.4.10 Australia
11 South America, Middle East & Africa
- 11.1 South America, Middle East & Africa AI-Based Security Systems Market Size (2021-2032)
- 11.2 South America, Middle East & Africa AI-Based Security Systems Market Size by Type
- 11.2.1 South America, Middle East & Africa AI-Based Security Systems Market Size by Type (2021-2026)
- 11.2.2 South America, Middle East & Africa AI-Based Security Systems Market Size by Type (2027-2032)
- 11.2.3 South America, Middle East & Africa AI-Based Security Systems Market Share by Type (2021-2032)
- 11.3 South America, Middle East & Africa AI-Based Security Systems Market Size by Application
- 11.3.1 South America, Middle East & Africa AI-Based Security Systems Market Size by Application (2021-2026)
- 11.3.2 South America, Middle East & Africa AI-Based Security Systems Market Size by Application (2027-2032)
- 11.3.3 South America, Middle East & Africa AI-Based Security Systems Market Share by Application (2021-2032)
- 11.4 South America, Middle East & Africa AI-Based Security Systems Market Size by Country
- 11.4.1 South America, Middle East & Africa AI-Based Security Systems Market Size by Country (2021 VS 2025 VS 2032)
- 11.4.2 South America, Middle East & Africa AI-Based Security Systems Market Size by Country (2021-2026)
- 11.4.3 South America, Middle East & Africa AI-Based Security Systems Market Size by Country (2027-2032)
- 11.4.4 South America, Middle East & Africa AI-Based Security Systems Market Share by Country (2021-2032)
- 11.4.5 Brazil
- 11.4.6 South Africa
- 11.4.7 Saudi Arabia
- 11.4.8 Turkey
- 11.4.9 Argentina
- 11.4.9 UAE
- 11.4.9 Egypt
- 11.4.9 Chile
12 Concluding Insights
13 Appendix
- 13.1 Reasons for Doing This Study
- 13.2 Research Methodology
- 13.3 Research Process
- 13.4 Authors List of This Report
- 13.5 Data Source
- 13.5.1 Secondary Sources
- 13.5.2 Primary Sources
- 13.6 Disclaimer
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