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Industry Research
Smart LED Lighting Driver Chip Industry Research Report 2026
Market perspective
The global Smart LED Lighting Driver Chip market was valued at US$ million in 2025 and is projected to reach US$ million by 2032, implying a CAGR of % over 2026–2032.
The North America market for Smart LED Lighting Driver Chip is forecast to increase from US$ million in 2026 to US$ million by 2032, corresponding to a CAGR of % over 2026–2032.
The Europe market for Smart LED Lighting Driver Chip is projected to rise from US$ million in 2026 to US$ million by 2032, registering a CAGR of % over 2026–2032.
Read the full market overview
The Asia Pacific market for Smart LED Lighting Driver Chip is expected to grow from US$ million in 2026 to US$ million by 2032, at a CAGR of % over 2026–2032.
Leading global manufacturers of Smart LED Lighting Driver Chip include , among others. In 2025, the top three vendors together accounted for approximately % of global revenue.
Report Scope
This report quantifies the global Smart LED Lighting Driver Chip market in revenue (US$ million) and, where applicable, sales volume (k units), using 2025 as the base year and providing annual historical and forecast data for 2021–2032.
It standardizes definitions of types and applications, harmonizes vendor attribution, and presents comparable time series by company, type, application, and region/country, including indicative price bands (US$/k units) and concentration ratios (CR5/CR10).
The outputs are intended to support strategy development, budgeting, and performance benchmarking for manufacturers, new entrants, channel partners, and investors; the report also reviews technology shifts and notable product introductions relevant to Smart LED Lighting Driver Chip.
Key Companies & Market Share Insights
This section profiles leading manufacturers, combining 2021–2025 results with a 2026–2032 outlook. It reports revenue, market share, price bands, product and application mix, regional and channel mix, and key developments (M&A, capacity additions, certifications). It also provides global revenue, average price, and—where applicable—sales volume by manufacturer, and calculates CR5/CR10 and rank changes to support comparative benchmarking.
Smart LED Lighting Driver Chip Market by Company
NXP
STMicroelectronics
Analog Devices
Texas Instruments
Marvell
Renesas Electronics
Infineon Technologies
Mcroblock
Toshiba
Dialog Semiconductor
Microchip Technology
ROHM Semiconductor
Micron Technology
Melexis
On Semiconductor
Shanghai Bright Power Semiconductor
Maxic Technology
Shenzhen Sunmoon MICROELECTRONICS
FINE Made MICROELECTRONICS Group
RYCHIP Semiconductor Inc.
Smart LED Lighting Driver Chip Segment by Type
RGB LED Driver ICs
DC/DC LED Driver ICs
Smart LED Lighting Driver Chip Segment by Application
Automotive Lighting
General Lighting
Other
Smart LED Lighting Driver Chip 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
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 Smart LED Lighting Driver Chip 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 Smart LED Lighting Driver Chip 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 Smart LED Lighting Driver Chip.
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 (by region, 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: Detailed analysis of Smart LED Lighting Driver Chip manufacturers competitive landscape, price, production and value market share, latest development plan, merger, and acquisition information, etc.
Chapter 4: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product production/output, value, price, gross margin, product introduction, recent development, etc.
Chapter 5: Production/output, value of Smart LED Lighting Driver Chip by region/country. It provides a quantitative analysis of the market size and development potential of each region in the next six years.
Chapter 6: Consumption of Smart LED Lighting Driver Chip in 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, and production of each country in the world.
Chapter 7: Provides the analysis of various market segments by type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 8: Provides the analysis of various market segments by 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 9: Analysis of industrial chain, including the upstream and downstream of the industry.
Chapter 10: 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 11: The main points and conclusions of the report.
More report detail
Tables and figures
Scope & coverage.
Types
- RGB LED Driver ICs
- DC/DC LED Driver ICs
Applications
- Automotive Lighting
- General Lighting
- Other
Companies covered
- NXP
- STMicroelectronics
- Analog Devices
- Texas Instruments
- Marvell
- Renesas Electronics
- Infineon Technologies
- Mcroblock
- Toshiba
- Dialog Semiconductor
- Microchip Technology
- ROHM Semiconductor
- Micron Technology
- Melexis
- On Semiconductor
- Shanghai Bright Power Semiconductor
- Maxic Technology
- Shenzhen Sunmoon MICROELECTRONICS
- FINE Made MICROELECTRONICS Group
- RYCHIP Semiconductor Inc.
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 Smart LED Lighting Driver Chip by Type
- 2.2.1 Market Value Comparison by Type (2021 VS 2025 VS 2032) & (US$ Million)
- 2.2.2 RGB LED Driver ICs
- 2.2.3 DC/DC LED Driver ICs
- 2.3 Smart LED Lighting Driver Chip by Application
- 2.3.1 Market Value Comparison by Application (2021 VS 2025 VS 2032) & (US$ Million)
- 2.3.2 Automotive Lighting
- 2.3.3 General Lighting
- 2.3.4 Other
- 2.4 Global Market Growth Prospects
- 2.4.1 Global Smart LED Lighting Driver Chip Production Value Estimates and Forecasts (2021-2032)
- 2.4.2 Global Smart LED Lighting Driver Chip Production Capacity Estimates and Forecasts (2021-2032)
- 2.4.3 Global Smart LED Lighting Driver Chip Production Estimates and Forecasts (2021-2032)
- 2.4.4 Global Smart LED Lighting Driver Chip Market Average Price (2021-2032)
3 Market Competitive Landscape by Manufacturers
- 3.1 Global Smart LED Lighting Driver Chip Production by Manufacturers (2021-2026)
- 3.2 Global Smart LED Lighting Driver Chip Production Value by Manufacturers (2021-2026)
- 3.3 Global Smart LED Lighting Driver Chip Average Price by Manufacturers (2021-2026)
- 3.4 Global Smart LED Lighting Driver Chip Industry Manufacturers Ranking, 2024 VS 2025 VS 2026
- 3.5 Global Smart LED Lighting Driver Chip Key Manufacturers, Manufacturing Sites & Headquarters
- 3.6 Global Smart LED Lighting Driver Chip Manufacturers, Product Type & Application
- 3.7 Global Smart LED Lighting Driver Chip Manufacturers Established Date
- 3.8 Global Smart LED Lighting Driver Chip Market CR5 and HHI
- 3.9 Global Manufacturers Mergers & Acquisition
4 Manufacturers Profiled
- 4.1 NXP
- 4.1.1 NXP Smart LED Lighting Driver Chip Company Information
- 4.1.2 NXP Smart LED Lighting Driver Chip Business Overview
- 4.1.3 NXP Smart LED Lighting Driver Chip Production, Value and Gross Margin (2021-2026)
- 4.1.4 NXP Product Portfolio
- 4.1.5 NXP Recent Developments
- 4.2 STMicroelectronics
- 4.2.1 STMicroelectronics Smart LED Lighting Driver Chip Company Information
- 4.2.2 STMicroelectronics Smart LED Lighting Driver Chip Business Overview
- 4.2.3 STMicroelectronics Smart LED Lighting Driver Chip Production, Value and Gross Margin (2021-2026)
- 4.2.4 STMicroelectronics Product Portfolio
- 4.2.5 STMicroelectronics Recent Developments
- 4.3 Analog Devices
- 4.3.1 Analog Devices Smart LED Lighting Driver Chip Company Information
- 4.3.2 Analog Devices Smart LED Lighting Driver Chip Business Overview
- 4.3.3 Analog Devices Smart LED Lighting Driver Chip Production, Value and Gross Margin (2021-2026)
- 4.3.4 Analog Devices Product Portfolio
- 4.3.5 Analog Devices Recent Developments
- 4.4 Texas Instruments
- 4.4.1 Texas Instruments Smart LED Lighting Driver Chip Company Information
- 4.4.2 Texas Instruments Smart LED Lighting Driver Chip Business Overview
- 4.4.3 Texas Instruments Smart LED Lighting Driver Chip Production, Value and Gross Margin (2021-2026)
- 4.4.4 Texas Instruments Product Portfolio
- 4.4.5 Texas Instruments Recent Developments
- 4.5 Marvell
- 4.5.1 Marvell Smart LED Lighting Driver Chip Company Information
- 4.5.2 Marvell Smart LED Lighting Driver Chip Business Overview
- 4.5.3 Marvell Smart LED Lighting Driver Chip Production, Value and Gross Margin (2021-2026)
- 4.5.4 Marvell Product Portfolio
- 4.5.5 Marvell Recent Developments
- 4.6 Renesas Electronics
- 4.6.1 Renesas Electronics Smart LED Lighting Driver Chip Company Information
- 4.6.2 Renesas Electronics Smart LED Lighting Driver Chip Business Overview
- 4.6.3 Renesas Electronics Smart LED Lighting Driver Chip Production, Value and Gross Margin (2021-2026)
- 4.6.4 Renesas Electronics Product Portfolio
- 4.6.5 Renesas Electronics Recent Developments
- 4.7 Infineon Technologies
- 4.7.1 Infineon Technologies Smart LED Lighting Driver Chip Company Information
- 4.7.2 Infineon Technologies Smart LED Lighting Driver Chip Business Overview
- 4.7.3 Infineon Technologies Smart LED Lighting Driver Chip Production, Value and Gross Margin (2021-2026)
- 4.7.4 Infineon Technologies Product Portfolio
- 4.7.5 Infineon Technologies Recent Developments
- 4.8 Mcroblock
- 4.8.1 Mcroblock Smart LED Lighting Driver Chip Company Information
- 4.8.2 Mcroblock Smart LED Lighting Driver Chip Business Overview
- 4.8.3 Mcroblock Smart LED Lighting Driver Chip Production, Value and Gross Margin (2021-2026)
- 4.8.4 Mcroblock Product Portfolio
- 4.8.5 Mcroblock Recent Developments
- 4.9 Toshiba
- 4.9.1 Toshiba Smart LED Lighting Driver Chip Company Information
- 4.9.2 Toshiba Smart LED Lighting Driver Chip Business Overview
- 4.9.3 Toshiba Smart LED Lighting Driver Chip Production, Value and Gross Margin (2021-2026)
- 4.9.4 Toshiba Product Portfolio
- 4.9.5 Toshiba Recent Developments
- 4.10 Dialog Semiconductor
- 4.10.1 Dialog Semiconductor Smart LED Lighting Driver Chip Company Information
- 4.10.2 Dialog Semiconductor Smart LED Lighting Driver Chip Business Overview
- 4.10.3 Dialog Semiconductor Smart LED Lighting Driver Chip Production, Value and Gross Margin (2021-2026)
- 4.10.4 Dialog Semiconductor Product Portfolio
- 4.10.5 Dialog Semiconductor Recent Developments
- 4.11 Microchip Technology
- 4.11.1 Microchip Technology Smart LED Lighting Driver Chip Company Information
- 4.11.2 Microchip Technology Smart LED Lighting Driver Chip Business Overview
- 4.11.3 Microchip Technology Smart LED Lighting Driver Chip Production, Value and Gross Margin (2021-2026)
- 4.11.4 Microchip Technology Product Portfolio
- 4.11.5 Microchip Technology Recent Developments
- 4.12 ROHM Semiconductor
- 4.12.1 ROHM Semiconductor Smart LED Lighting Driver Chip Company Information
- 4.12.2 ROHM Semiconductor Smart LED Lighting Driver Chip Business Overview
- 4.12.3 ROHM Semiconductor Smart LED Lighting Driver Chip Production, Value and Gross Margin (2021-2026)
- 4.12.4 ROHM Semiconductor Product Portfolio
- 4.12.5 ROHM Semiconductor Recent Developments
- 4.13 Micron Technology
- 4.13.1 Micron Technology Smart LED Lighting Driver Chip Company Information
- 4.13.2 Micron Technology Smart LED Lighting Driver Chip Business Overview
- 4.13.3 Micron Technology Smart LED Lighting Driver Chip Production, Value and Gross Margin (2021-2026)
- 4.13.4 Micron Technology Product Portfolio
- 4.13.5 Micron Technology Recent Developments
- 4.14 Melexis
- 4.14.1 Melexis Smart LED Lighting Driver Chip Company Information
- 4.14.2 Melexis Smart LED Lighting Driver Chip Business Overview
- 4.14.3 Melexis Smart LED Lighting Driver Chip Production, Value and Gross Margin (2021-2026)
- 4.14.4 Melexis Product Portfolio
- 4.14.5 Melexis Recent Developments
- 4.15 On Semiconductor
- 4.15.1 On Semiconductor Smart LED Lighting Driver Chip Company Information
- 4.15.2 On Semiconductor Smart LED Lighting Driver Chip Business Overview
- 4.15.3 On Semiconductor Smart LED Lighting Driver Chip Production, Value and Gross Margin (2021-2026)
- 4.15.4 On Semiconductor Product Portfolio
- 4.15.5 On Semiconductor Recent Developments
- 4.16 Shanghai Bright Power Semiconductor
- 4.16.1 Shanghai Bright Power Semiconductor Smart LED Lighting Driver Chip Company Information
- 4.16.2 Shanghai Bright Power Semiconductor Smart LED Lighting Driver Chip Business Overview
- 4.16.3 Shanghai Bright Power Semiconductor Smart LED Lighting Driver Chip Production, Value and Gross Margin (2021-2026)
- 4.16.4 Shanghai Bright Power Semiconductor Product Portfolio
- 4.16.5 Shanghai Bright Power Semiconductor Recent Developments
- 4.17 Maxic Technology
- 4.17.1 Maxic Technology Smart LED Lighting Driver Chip Company Information
- 4.17.2 Maxic Technology Smart LED Lighting Driver Chip Business Overview
- 4.17.3 Maxic Technology Smart LED Lighting Driver Chip Production, Value and Gross Margin (2021-2026)
- 4.17.4 Maxic Technology Product Portfolio
- 4.17.5 Maxic Technology Recent Developments
- 4.18 Shenzhen Sunmoon MICROELECTRONICS
- 4.18.1 Shenzhen Sunmoon MICROELECTRONICS Smart LED Lighting Driver Chip Company Information
- 4.18.2 Shenzhen Sunmoon MICROELECTRONICS Smart LED Lighting Driver Chip Business Overview
- 4.18.3 Shenzhen Sunmoon MICROELECTRONICS Smart LED Lighting Driver Chip Production, Value and Gross Margin (2021-2026)
- 4.18.4 Shenzhen Sunmoon MICROELECTRONICS Product Portfolio
- 4.18.5 Shenzhen Sunmoon MICROELECTRONICS Recent Developments
- 4.19 FINE Made MICROELECTRONICS Group
- 4.19.1 FINE Made MICROELECTRONICS Group Smart LED Lighting Driver Chip Company Information
- 4.19.2 FINE Made MICROELECTRONICS Group Smart LED Lighting Driver Chip Business Overview
- 4.19.3 FINE Made MICROELECTRONICS Group Smart LED Lighting Driver Chip Production, Value and Gross Margin (2021-2026)
- 4.19.4 FINE Made MICROELECTRONICS Group Product Portfolio
- 4.19.5 FINE Made MICROELECTRONICS Group Recent Developments
- 4.20 RYCHIP Semiconductor Inc.
- 4.20.1 RYCHIP Semiconductor Inc. Smart LED Lighting Driver Chip Company Information
- 4.20.2 RYCHIP Semiconductor Inc. Smart LED Lighting Driver Chip Business Overview
- 4.20.3 RYCHIP Semiconductor Inc. Smart LED Lighting Driver Chip Production, Value and Gross Margin (2021-2026)
- 4.20.4 RYCHIP Semiconductor Inc. Product Portfolio
- 4.20.5 RYCHIP Semiconductor Inc. Recent Developments
5 Global Smart LED Lighting Driver Chip Production by Region
- 5.1 Global Smart LED Lighting Driver Chip Production Estimates and Forecasts by Region: 2021 VS 2025 VS 2032
- 5.2 Global Smart LED Lighting Driver Chip Production by Region: 2021-2032
- 5.2.1 Global Smart LED Lighting Driver Chip Production by Region: 2021-2026
- 5.2.2 Global Smart LED Lighting Driver Chip Production Forecast by Region (2027-2032)
- 5.3 Global Smart LED Lighting Driver Chip Production Value Estimates and Forecasts by Region: 2021 VS 2025 VS 2032
- 5.4 Global Smart LED Lighting Driver Chip Production Value by Region: 2021-2032
- 5.4.1 Global Smart LED Lighting Driver Chip Production Value by Region: 2021-2026
- 5.4.2 Global Smart LED Lighting Driver Chip Production Value Forecast by Region (2027-2032)
- 5.5 Global Smart LED Lighting Driver Chip Market Price Analysis by Region (2021-2026)
- 5.6 Global Smart LED Lighting Driver Chip Production and Value, YOY Growth
- 5.6.1 North America Smart LED Lighting Driver Chip Production Value Estimates and Forecasts (2021-2032)
- 5.6.2 Europe Smart LED Lighting Driver Chip Production Value Estimates and Forecasts (2021-2032)
- 5.6.3 China Smart LED Lighting Driver Chip Production Value Estimates and Forecasts (2021-2032)
- 5.6.4 Japan Smart LED Lighting Driver Chip Production Value Estimates and Forecasts (2021-2032)
- 5.6.5 South Korea Smart LED Lighting Driver Chip Production Value Estimates and Forecasts (2021-2032)
6 Global Smart LED Lighting Driver Chip Consumption by Region
- 6.1 Global Smart LED Lighting Driver Chip Consumption Estimates and Forecasts by Region: 2021 VS 2025 VS 2032
- 6.2 Global Smart LED Lighting Driver Chip Consumption by Region (2021-2032)
- 6.2.1 Global Smart LED Lighting Driver Chip Consumption by Region: 2021-2026
- 6.2.2 Global Smart LED Lighting Driver Chip Forecasted Consumption by Region (2027-2032)
- 6.3 North America
- 6.3.1 North America Smart LED Lighting Driver Chip Consumption Growth Rate by Country: 2021 VS 2025 VS 2032
- 6.3.2 North America Smart LED Lighting Driver Chip Consumption by Country (2021-2032)
- 6.3.3 United States
- 6.3.4 Canada
- 6.3.5 Mexico
- 6.4 Europe
- 6.4.1 Europe Smart LED Lighting Driver Chip Consumption Growth Rate by Country: 2021 VS 2025 VS 2032
- 6.4.2 Europe Smart LED Lighting Driver Chip Consumption by Country (2021-2032)
- 6.4.3 Germany
- 6.4.4 France
- 6.4.5 U.K.
- 6.4.6 Italy
- 6.4.7 Russia
- 6.4.8 Spain
- 6.4.9 Netherlands
- 6.4.10 Switzerland
- 6.4.11 Sweden
- 6.4.12 Poland
- 6.5 Asia Pacific
- 6.5.1 Asia Pacific Smart LED Lighting Driver Chip Consumption Growth Rate by Country: 2021 VS 2025 VS 2032
- 6.5.2 Asia Pacific Smart LED Lighting Driver Chip Consumption by Country (2021-2032)
- 6.5.3 China
- 6.5.4 Japan
- 6.5.5 South Korea
- 6.5.6 India
- 6.5.7 Australia
- 6.5.8 Taiwan
- 6.5.9 Southeast Asia
- 6.6 South America, Middle East & Africa
- 6.6.1 South America, Middle East & Africa Smart LED Lighting Driver Chip Consumption Growth Rate by Country: 2021 VS 2025 VS 2032
- 6.6.2 South America, Middle East & Africa Smart LED Lighting Driver Chip Consumption by Country (2021-2032)
- 6.6.3 Brazil
- 6.6.4 Argentina
- 6.6.5 Chile
- 6.6.6 Turkey
- 6.6.7 GCC Countries
7 Segment by Type
- 7.1 Global Smart LED Lighting Driver Chip Production by Type (2021-2032)
- 7.1.1 Global Smart LED Lighting Driver Chip Production by Type (2021-2032) & (k units)
- 7.1.2 Global Smart LED Lighting Driver Chip Production Market Share by Type (2021-2032)
- 7.2 Global Smart LED Lighting Driver Chip Production Value by Type (2021-2032)
- 7.2.1 Global Smart LED Lighting Driver Chip Production Value by Type (2021-2032) & (US$ Million)
- 7.2.2 Global Smart LED Lighting Driver Chip Production Value Market Share by Type (2021-2032)
- 7.3 Global Smart LED Lighting Driver Chip Price by Type (2021-2032)
8 Segment by Application
- 8.1 Global Smart LED Lighting Driver Chip Production by Application (2021-2032)
- 8.1.1 Global Smart LED Lighting Driver Chip Production by Application (2021-2032) & (k units)
- 8.1.2 Global Smart LED Lighting Driver Chip Production Market Share by Application (2021-2032)
- 8.2 Global Smart LED Lighting Driver Chip Production Value by Application (2021-2032)
- 8.2.1 Global Smart LED Lighting Driver Chip Production Value by Application (2021-2032) & (US$ Million)
- 8.2.2 Global Smart LED Lighting Driver Chip Production Value Market Share by Application (2021-2032)
- 8.3 Global Smart LED Lighting Driver Chip Price by Application (2021-2032)
9 Value Chain and Sales Channels Analysis of the Market
- 9.1 Smart LED Lighting Driver Chip Value Chain Analysis
- 9.1.1 Smart LED Lighting Driver Chip Key Raw Materials
- 9.1.2 Raw Materials Key Suppliers
- 9.1.3 Smart LED Lighting Driver Chip Production Mode & Process
- 9.2 Smart LED Lighting Driver Chip Sales Channels Analysis
- 9.2.1 Direct Comparison with Distribution Share
- 9.2.2 Smart LED Lighting Driver Chip Distributors
- 9.2.3 Smart LED Lighting Driver Chip Customers
10 Global Smart LED Lighting Driver Chip Analyzing Market Dynamics
- 10.1 Smart LED Lighting Driver Chip Industry Trends
- 10.2 Smart LED Lighting Driver Chip Industry Drivers
- 10.3 Smart LED Lighting Driver Chip Industry Opportunities and Challenges
- 10.4 Smart LED Lighting Driver Chip Industry Restraints
11 Report Conclusion
12 Disclaimer
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