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Digital Time Switches Industry Research Report 2023

August 2023 | 112 pages | ID: D4A006CE8BF3EN
APO Research

US$ 2,950.00

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This report aims to provide a comprehensive presentation of the global market for Digital Time Switches, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Digital Time Switches.

The Digital Time Switches market size, estimations, and forecasts are provided in terms of output/shipments (K Units) and revenue ($ millions), considering 2022 as the base year, with history and forecast data for the period from 2018 to 2029. This report segments the global Digital Time Switches market comprehensively. Regional market sizes, concerning products by types, by application, and by players, are also provided. The influence of COVID-19 and the Russia-Ukraine War were considered while estimating market sizes.

For a more in-depth understanding of the market, the report provides profiles of the competitive landscape, key competitors, and their respective market ranks. The report also discusses technological trends and new product developments.

The report will help the Digital Time Switches manufacturers, new entrants, and industry chain related companies in this market with information on the revenues, production, and average price for the overall market and the sub-segments across the different segments, by company, product type, application, and regions.

Key Companies & Market Share Insights

In this section, the readers will gain an understanding of the key players competing. This report has studied the key growth strategies, such as innovative trends and developments, intensification of product portfolio, mergers and acquisitions, collaborations, new product innovation, and geographical expansion, undertaken by these participants to maintain their presence. Apart from business strategies, the study includes current developments and key financials. The readers will also get access to the data related to global revenue, price, and sales by manufacturers for the period 2018-2023. This all-inclusive report will certainly serve the clients to stay updated and make effective decisions in their businesses. Some of the prominent players reviewed in the research report include:
  • Honeywell
  • Leviton
  • Panasonic
  • Legrand
  • Intermatic
  • Schneider Electric
  • Theben
  • Larsen & Toubro
  • Oribis
  • Eaton
  • Havells India
  • Omron
  • Hager
  • Koyo Electronics
  • Enerlites
  • Crouzet
  • Autonics
  • Hugo Mьller
  • Dwyer Instruments
  • Marsh Bellofram
  • Finder SPA
  • Trumeter
  • Kьbler
  • Sangamo
  • Ascon Tecnologic
  • Tempatron
  • Any Electronics
  • ANLY Electronics
Product Type Insights

Global markets are presented by Digital Time Switches type, along with growth forecasts through 2029. Estimates on production and value are based on the price in the supply chain at which the Digital Time Switches are procured by the manufacturers.

This report has studied every segment and provided the market size using historical data. They have also talked about the growth opportunities that the segment may pose in the future. This study bestows production and revenue data by type, and during the historical period (2018-2023) and forecast period (2024-2029).

Digital Time Switches segment by Type
  • DIN Rail Mount
  • Panel Mount
Application Insights

This report has provided the market size (production and revenue data) by application, during the historical period (2018-2023) and forecast period (2024-2029).

This report also outlines the market trends of each segment and consumer behaviors impacting the Digital Time Switches market and what implications these may have on the industry's future. This report can help to understand the relevant market and consumer trends that are driving the Digital Time Switches market.

Digital Time Switches segment by Application
  • Industrial Devices
  • Lightings
  • Others
Regional Outlook

This section of the report provides key insights regarding various regions and the key players operating in each region. Economic, social, environmental, technological, and political factors have been taken into consideration while assessing the growth of the particular region/country. The readers will also get their hands on the revenue and sales data of each region and country for the period 2018-2029.

The market has been segmented into various major geographies, including North America, Europe, Asia-Pacific, South America. Detailed analysis of major countries such as the USA, Germany, the U.K., Italy, France, China, Japan, South Korea, Southeast Asia, and India will be covered within the regional segment. For market estimates, data are going to be provided for 2022 because of the base year, with estimates for 2023 and forecast value for 2029.
  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Russia
  • Asia-Pacific
    • China
    • Japan
    • South Korea
    • India
    • Australia
    • China Taiwan
    • Indonesia
    • Thailand
    • Malaysia
  • Latin America
    • Mexico
    • Brazil
    • Argentina
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.

COVID-19 and Russia-Ukraine War Influence Analysis

The readers in the section will understand how the Digital Time Switches market scenario changed across the globe during the pandemic, post-pandemic and Russia-Ukraine War. The study is done keeping in view the changes in aspects such as demand, consumption, transportation, consumer behavior, supply chain management, export and import, and production. The industry experts have also highlighted the key factors that will help create opportunities for players and stabilize the overall industry in the years to come.

Reasons to Buy This Report

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 Digital Time Switches 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.

This report will help stakeholders to understand the global industry status and trends of Digital Time Switches and provides them with information on key market drivers, restraints, challenges, and opportunities.

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.

This report stays updated with novel technology integration, features, and the latest developments in the market

This report helps stakeholders to understand the COVID-19 and Russia-Ukraine War Influence on the Digital Time Switches industry.

This report helps stakeholders to gain insights into which regions to target globally

This report helps stakeholders to gain insights into the end-user perception concerning the adoption of Digital Time Switches.

This report helps stakeholders to identify some of the key players in the market and understand their valuable contribution.

Core Chapters

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 Digital Time Switches 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 Digital Time Switches 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 Digital Time Switches 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.
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 Digital Time Switches by Type
  2.2.1 Market Value Comparison by Type (2018 VS 2022 VS 2029) & (US$ Million)
  1.2.2 DIN Rail Mount
  1.2.3 Panel Mount
2.3 Digital Time Switches by Application
  2.3.1 Market Value Comparison by Application (2018 VS 2022 VS 2029) & (US$ Million)
  2.3.2 Industrial Devices
  2.3.3 Lightings
  2.3.4 Others
2.4 Global Market Growth Prospects
  2.4.1 Global Digital Time Switches Production Value Estimates and Forecasts (2018-2029)
  2.4.2 Global Digital Time Switches Production Capacity Estimates and Forecasts (2018-2029)
  2.4.3 Global Digital Time Switches Production Estimates and Forecasts (2018-2029)
  2.4.4 Global Digital Time Switches Market Average Price (2018-2029)

3 MARKET COMPETITIVE LANDSCAPE BY MANUFACTURERS

3.1 Global Digital Time Switches Production by Manufacturers (2018-2023)
3.2 Global Digital Time Switches Production Value by Manufacturers (2018-2023)
3.3 Global Digital Time Switches Average Price by Manufacturers (2018-2023)
3.4 Global Digital Time Switches Industry Manufacturers Ranking, 2021 VS 2022 VS 2023
3.5 Global Digital Time Switches Key Manufacturers, Manufacturing Sites & Headquarters
3.6 Global Digital Time Switches Manufacturers, Product Type & Application
3.7 Global Digital Time Switches Manufacturers, Date of Enter into This Industry
3.8 Global Digital Time Switches Market CR5 and HHI
3.9 Global Manufacturers Mergers & Acquisition

4 MANUFACTURERS PROFILED

4.1 Honeywell
  4.1.1 Honeywell Digital Time Switches Company Information
  4.1.2 Honeywell Digital Time Switches Business Overview
  4.1.3 Honeywell Digital Time Switches Production, Value and Gross Margin (2018-2023)
  4.1.4 Honeywell Product Portfolio
  4.1.5 Honeywell Recent Developments
4.2 Leviton
  4.2.1 Leviton Digital Time Switches Company Information
  4.2.2 Leviton Digital Time Switches Business Overview
  4.2.3 Leviton Digital Time Switches Production, Value and Gross Margin (2018-2023)
  4.2.4 Leviton Product Portfolio
  4.2.5 Leviton Recent Developments
4.3 Panasonic
  4.3.1 Panasonic Digital Time Switches Company Information
  4.3.2 Panasonic Digital Time Switches Business Overview
  4.3.3 Panasonic Digital Time Switches Production, Value and Gross Margin (2018-2023)
  4.3.4 Panasonic Product Portfolio
  4.3.5 Panasonic Recent Developments
4.4 Legrand
  4.4.1 Legrand Digital Time Switches Company Information
  4.4.2 Legrand Digital Time Switches Business Overview
  4.4.3 Legrand Digital Time Switches Production, Value and Gross Margin (2018-2023)
  4.4.4 Legrand Product Portfolio
  4.4.5 Legrand Recent Developments
4.5 Intermatic
  4.5.1 Intermatic Digital Time Switches Company Information
  4.5.2 Intermatic Digital Time Switches Business Overview
  4.5.3 Intermatic Digital Time Switches Production, Value and Gross Margin (2018-2023)
  4.5.4 Intermatic Product Portfolio
  4.5.5 Intermatic Recent Developments
4.6 Schneider Electric
  4.6.1 Schneider Electric Digital Time Switches Company Information
  4.6.2 Schneider Electric Digital Time Switches Business Overview
  4.6.3 Schneider Electric Digital Time Switches Production, Value and Gross Margin (2018-2023)
  4.6.4 Schneider Electric Product Portfolio
  4.6.5 Schneider Electric Recent Developments
4.7 Theben
  4.7.1 Theben Digital Time Switches Company Information
  4.7.2 Theben Digital Time Switches Business Overview
  4.7.3 Theben Digital Time Switches Production, Value and Gross Margin (2018-2023)
  4.7.4 Theben Product Portfolio
  4.7.5 Theben Recent Developments
4.8 Larsen & Toubro
  4.8.1 Larsen & Toubro Digital Time Switches Company Information
  4.8.2 Larsen & Toubro Digital Time Switches Business Overview
  4.8.3 Larsen & Toubro Digital Time Switches Production, Value and Gross Margin (2018-2023)
  4.8.4 Larsen & Toubro Product Portfolio
  4.8.5 Larsen & Toubro Recent Developments
4.9 Oribis
  4.9.1 Oribis Digital Time Switches Company Information
  4.9.2 Oribis Digital Time Switches Business Overview
  4.9.3 Oribis Digital Time Switches Production, Value and Gross Margin (2018-2023)
  4.9.4 Oribis Product Portfolio
  4.9.5 Oribis Recent Developments
4.10 Eaton
  4.10.1 Eaton Digital Time Switches Company Information
  4.10.2 Eaton Digital Time Switches Business Overview
  4.10.3 Eaton Digital Time Switches Production, Value and Gross Margin (2018-2023)
  4.10.4 Eaton Product Portfolio
  4.10.5 Eaton Recent Developments
7.11 Havells India
  7.11.1 Havells India Digital Time Switches Company Information
  7.11.2 Havells India Digital Time Switches Business Overview
  4.11.3 Havells India Digital Time Switches Production, Value and Gross Margin (2018-2023)
  7.11.4 Havells India Product Portfolio
  7.11.5 Havells India Recent Developments
7.12 Omron
  7.12.1 Omron Digital Time Switches Company Information
  7.12.2 Omron Digital Time Switches Business Overview
  7.12.3 Omron Digital Time Switches Production, Value and Gross Margin (2018-2023)
  7.12.4 Omron Product Portfolio
  7.12.5 Omron Recent Developments
7.13 Hager
  7.13.1 Hager Digital Time Switches Company Information
  7.13.2 Hager Digital Time Switches Business Overview
  7.13.3 Hager Digital Time Switches Production, Value and Gross Margin (2018-2023)
  7.13.4 Hager Product Portfolio
  7.13.5 Hager Recent Developments
7.14 Koyo Electronics
  7.14.1 Koyo Electronics Digital Time Switches Company Information
  7.14.2 Koyo Electronics Digital Time Switches Business Overview
  7.14.3 Koyo Electronics Digital Time Switches Production, Value and Gross Margin (2018-2023)
  7.14.4 Koyo Electronics Product Portfolio
  7.14.5 Koyo Electronics Recent Developments
7.15 Enerlites
  7.15.1 Enerlites Digital Time Switches Company Information
  7.15.2 Enerlites Digital Time Switches Business Overview
  7.15.3 Enerlites Digital Time Switches Production, Value and Gross Margin (2018-2023)
  7.15.4 Enerlites Product Portfolio
  7.15.5 Enerlites Recent Developments
7.16 Crouzet
  7.16.1 Crouzet Digital Time Switches Company Information
  7.16.2 Crouzet Digital Time Switches Business Overview
  7.16.3 Crouzet Digital Time Switches Production, Value and Gross Margin (2018-2023)
  7.16.4 Crouzet Product Portfolio
  7.16.5 Crouzet Recent Developments
7.17 Autonics
  7.17.1 Autonics Digital Time Switches Company Information
  7.17.2 Autonics Digital Time Switches Business Overview
  7.17.3 Autonics Digital Time Switches Production, Value and Gross Margin (2018-2023)
  7.17.4 Autonics Product Portfolio
  7.17.5 Autonics Recent Developments
7.18 Hugo Mьller
  7.18.1 Hugo Mьller Digital Time Switches Company Information
  7.18.2 Hugo Mьller Digital Time Switches Business Overview
  7.18.3 Hugo Mьller Digital Time Switches Production, Value and Gross Margin (2018-2023)
  7.18.4 Hugo Mьller Product Portfolio
  7.18.5 Hugo Mьller Recent Developments
7.19 Dwyer Instruments
  7.19.1 Dwyer Instruments Digital Time Switches Company Information
  7.19.2 Dwyer Instruments Digital Time Switches Business Overview
  7.19.3 Dwyer Instruments Digital Time Switches Production, Value and Gross Margin (2018-2023)
  7.19.4 Dwyer Instruments Product Portfolio
  7.19.5 Dwyer Instruments Recent Developments
7.20 Marsh Bellofram
  7.20.1 Marsh Bellofram Digital Time Switches Company Information
  7.20.2 Marsh Bellofram Digital Time Switches Business Overview
  7.20.3 Marsh Bellofram Digital Time Switches Production, Value and Gross Margin (2018-2023)
  7.20.4 Marsh Bellofram Product Portfolio
  7.20.5 Marsh Bellofram Recent Developments
7.21 Finder SPA
  7.21.1 Finder SPA Digital Time Switches Company Information
  7.21.2 Finder SPA Digital Time Switches Business Overview
  7.21.3 Finder SPA Digital Time Switches Production, Value and Gross Margin (2018-2023)
  7.21.4 Finder SPA Product Portfolio
  7.21.5 Finder SPA Recent Developments
7.22 Trumeter
  7.22.1 Trumeter Digital Time Switches Company Information
  7.22.2 Trumeter Digital Time Switches Business Overview
  7.22.3 Trumeter Digital Time Switches Production, Value and Gross Margin (2018-2023)
  7.22.4 Trumeter Product Portfolio
  7.22.5 Trumeter Recent Developments
7.23 Kьbler
  7.23.1 Kьbler Digital Time Switches Company Information
  7.23.2 Kьbler Digital Time Switches Business Overview
  7.23.3 Kьbler Digital Time Switches Production, Value and Gross Margin (2018-2023)
  7.23.4 Kьbler Product Portfolio
  7.23.5 Kьbler Recent Developments
7.24 Sangamo
  7.24.1 Sangamo Digital Time Switches Company Information
  7.24.2 Sangamo Digital Time Switches Business Overview
  7.24.3 Sangamo Digital Time Switches Production, Value and Gross Margin (2018-2023)
  7.24.4 Sangamo Product Portfolio
  7.24.5 Sangamo Recent Developments
7.25 Ascon Tecnologic
  7.25.1 Ascon Tecnologic Digital Time Switches Company Information
  7.25.2 Ascon Tecnologic Digital Time Switches Business Overview
  7.25.3 Ascon Tecnologic Digital Time Switches Production, Value and Gross Margin (2018-2023)
  7.25.4 Ascon Tecnologic Product Portfolio
  7.25.5 Ascon Tecnologic Recent Developments
7.26 Tempatron
  7.26.1 Tempatron Digital Time Switches Company Information
  7.26.2 Tempatron Digital Time Switches Business Overview
  7.26.3 Tempatron Digital Time Switches Production, Value and Gross Margin (2018-2023)
  7.26.4 Tempatron Product Portfolio
  7.26.5 Tempatron Recent Developments
7.27 Any Electronics
  7.27.1 Any Electronics Digital Time Switches Company Information
  7.27.2 Any Electronics Digital Time Switches Business Overview
  7.27.3 Any Electronics Digital Time Switches Production, Value and Gross Margin (2018-2023)
  7.27.4 Any Electronics Product Portfolio
  7.27.5 Any Electronics Recent Developments
7.28 ANLY Electronics
  7.28.1 ANLY Electronics Digital Time Switches Company Information
  7.28.2 ANLY Electronics Digital Time Switches Business Overview
  7.28.3 ANLY Electronics Digital Time Switches Production, Value and Gross Margin (2018-2023)
  7.28.4 ANLY Electronics Product Portfolio
  7.28.5 ANLY Electronics Recent Developments

5 GLOBAL DIGITAL TIME SWITCHES PRODUCTION BY REGION

5.1 Global Digital Time Switches Production Estimates and Forecasts by Region: 2018 VS 2022 VS 2029
5.2 Global Digital Time Switches Production by Region: 2018-2029
  5.2.1 Global Digital Time Switches Production by Region: 2018-2023
  5.2.2 Global Digital Time Switches Production Forecast by Region (2024-2029)
5.3 Global Digital Time Switches Production Value Estimates and Forecasts by Region: 2018 VS 2022 VS 2029
5.4 Global Digital Time Switches Production Value by Region: 2018-2029
  5.4.1 Global Digital Time Switches Production Value by Region: 2018-2023
  5.4.2 Global Digital Time Switches Production Value Forecast by Region (2024-2029)
5.5 Global Digital Time Switches Market Price Analysis by Region (2018-2023)
5.6 Global Digital Time Switches Production and Value, YOY Growth
  5.6.1 North America Digital Time Switches Production Value Estimates and Forecasts (2018-2029)
  5.6.2 Europe Digital Time Switches Production Value Estimates and Forecasts (2018-2029)
  5.6.3 China Digital Time Switches Production Value Estimates and Forecasts (2018-2029)
  5.6.4 Japan Digital Time Switches Production Value Estimates and Forecasts (2018-2029)
  5.6.5 South Korea Digital Time Switches Production Value Estimates and Forecasts (2018-2029)
  5.6.6 Taiwan (China) Digital Time Switches Production Value Estimates and Forecasts (2018-2029)
  5.6.7 India Digital Time Switches Production Value Estimates and Forecasts (2018-2029)

6 GLOBAL DIGITAL TIME SWITCHES CONSUMPTION BY REGION

6.1 Global Digital Time Switches Consumption Estimates and Forecasts by Region: 2018 VS 2022 VS 2029
6.2 Global Digital Time Switches Consumption by Region (2018-2029)
  6.2.1 Global Digital Time Switches Consumption by Region: 2018-2029
  6.2.2 Global Digital Time Switches Forecasted Consumption by Region (2024-2029)
6.3 North America
  6.3.1 North America Digital Time Switches Consumption Growth Rate by Country: 2018 VS 2022 VS 2029
  6.3.2 North America Digital Time Switches Consumption by Country (2018-2029)
  6.3.3 U.S.
  6.3.4 Canada
6.4 Europe
  6.4.1 Europe Digital Time Switches Consumption Growth Rate by Country: 2018 VS 2022 VS 2029
  6.4.2 Europe Digital Time Switches Consumption by Country (2018-2029)
  6.4.3 Germany
  6.4.4 France
  6.4.5 U.K.
  6.4.6 Italy
  6.4.7 Russia
6.5 Asia Pacific
  6.5.1 Asia Pacific Digital Time Switches Consumption Growth Rate by Country: 2018 VS 2022 VS 2029
  6.5.2 Asia Pacific Digital Time Switches Consumption by Country (2018-2029)
  6.5.3 China
  6.5.4 Japan
  6.5.5 South Korea
  6.5.6 China Taiwan
  6.5.7 Southeast Asia
  6.5.8 India
  6.5.9 Australia
6.6 Latin America, Middle East & Africa
  6.6.1 Latin America, Middle East & Africa Digital Time Switches Consumption Growth Rate by Country: 2018 VS 2022 VS 2029
  6.6.2 Latin America, Middle East & Africa Digital Time Switches Consumption by Country (2018-2029)
  6.6.3 Mexico
  6.6.4 Brazil
  6.6.5 Turkey
  6.6.5 GCC Countries

7 SEGMENT BY TYPE

7.1 Global Digital Time Switches Production by Type (2018-2029)
  7.1.1 Global Digital Time Switches Production by Type (2018-2029) & (K Units)
  7.1.2 Global Digital Time Switches Production Market Share by Type (2018-2029)
7.2 Global Digital Time Switches Production Value by Type (2018-2029)
  7.2.1 Global Digital Time Switches Production Value by Type (2018-2029) & (US$ Million)
  7.2.2 Global Digital Time Switches Production Value Market Share by Type (2018-2029)
7.3 Global Digital Time Switches Price by Type (2018-2029)

8 SEGMENT BY APPLICATION

8.1 Global Digital Time Switches Production by Application (2018-2029)
  8.1.1 Global Digital Time Switches Production by Application (2018-2029) & (K Units)
  8.1.2 Global Digital Time Switches Production by Application (2018-2029) & (K Units)
8.2 Global Digital Time Switches Production Value by Application (2018-2029)
  8.2.1 Global Digital Time Switches Production Value by Application (2018-2029) & (US$ Million)
  8.2.2 Global Digital Time Switches Production Value Market Share by Application (2018-2029)
8.3 Global Digital Time Switches Price by Application (2018-2029)

9 VALUE CHAIN AND SALES CHANNELS ANALYSIS OF THE MARKET

9.1 Digital Time Switches Value Chain Analysis
  9.1.1 Digital Time Switches Key Raw Materials
  9.1.2 Raw Materials Key Suppliers
  9.1.3 Digital Time Switches Production Mode & Process
9.2 Digital Time Switches Sales Channels Analysis
  9.2.1 Direct Comparison with Distribution Share
  9.2.2 Digital Time Switches Distributors
  9.2.3 Digital Time Switches Customers

10 GLOBAL DIGITAL TIME SWITCHES ANALYZING MARKET DYNAMICS

10.1 Digital Time Switches Industry Trends
10.2 Digital Time Switches Industry Drivers
10.3 Digital Time Switches Industry Opportunities and Challenges
10.4 Digital Time Switches Industry Restraints

11 REPORT CONCLUSION

12 DISCLAIMER



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