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Quantum Photonics Market Size, Share & Trends Analysis Report By Offering (Systems, Services), By Applications (Quantum Computing, Quantum Sensing and Metrology, Quantum Communication), By Verticals (BFSI, Space and Defence, Healthcare, Transportation and Logistics, Government, Others) and By Region (North America, Europe, APAC, Middle East and Africa, LATAM) Forecasts, 2026-2034

Last Updated: May 25, 2026 | Author: Pavan Warade | Format: | Report Code: SR6181DR | Pages: 157
Overview TOC Segmentation Methodology
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Table Of Content

  1. Executive Summary
  2. Research Scope & Segmentation
    1. Research Objectives
    2. Limitations & Assumptions
    3. Market Scope & Segmentation
    4. Currency & Pricing Considered
  3. Market Opportunity Assessment
    1. Emerging Regions / Countries
    2. Emerging Companies
    3. Emerging Applications / End Use
  4. Market Trends
    1. Drivers
    2. Market Warning Factors
    3. Macro Economic Indicators
    4. Geopolitical Impact
    5. Technology Factors
  5. Market Assessment
    1. Porters Five Forces Analysis
    2. Value Chain Analysis
  6. Quantum Photonics Market Size Analysis
    1. Introduction
    2. Quantum Photonics Market Market Size & Forecast By Offering 2022-2034 (USD MILLION/ Units)
      1. Systems
      2. Services
    3. Quantum Photonics Market Market Size & Forecast By Applications 2022-2034 (USD MILLION/ Units)
      1. Quantum Computing
      2. Quantum Sensing and Metrology 
      3. Quantum Communication
    4. Quantum Photonics Market Market Size & Forecast By Verticals 2022-2034 (USD MILLION/ Units)
      1. BFSI
      2. Space and Defence
      3. Healthcare
      4. Transportation and Logistics
      5. Government
      6. Others
  7. North America Quantum Photonics Market Size Analysis
    1. Introduction
    2. Quantum Photonics Market Market Size & Forecast By Offering 2022-2034 (USD MILLION/ Units)
      1. Systems
      2. Services
    3. Quantum Photonics Market Market Size & Forecast By Applications 2022-2034 (USD MILLION/ Units)
      1. Quantum Computing
      2. Quantum Sensing and Metrology 
      3. Quantum Communication
    4. Quantum Photonics Market Market Size & Forecast By Verticals 2022-2034 (USD MILLION/ Units)
      1. BFSI
      2. Space and Defence
      3. Healthcare
      4. Transportation and Logistics
      5. Government
      6. Others
    5. U.S.
      1. Introduction
      2. Market Size & Forecast By Offering 2022-2034 (USD MILLION/ Units)
        1. Systems
        2. Services
      3. Market Size & Forecast By Applications 2022-2034 (USD MILLION/ Units)
        1. Quantum Computing
        2. Quantum Sensing and Metrology 
        3. Quantum Communication
      4. Market Size & Forecast By Verticals 2022-2034 (USD MILLION/ Units)
        1. BFSI
        2. Space and Defence
        3. Healthcare
        4. Transportation and Logistics
        5. Government
        6. Others
    6. Canada
      1. Introduction
      2. Market Size & Forecast By Offering 2022-2034 (USD MILLION/ Units)
        1. Systems
        2. Services
      3. Market Size & Forecast By Applications 2022-2034 (USD MILLION/ Units)
        1. Quantum Computing
        2. Quantum Sensing and Metrology 
        3. Quantum Communication
      4. Market Size & Forecast By Verticals 2022-2034 (USD MILLION/ Units)
        1. BFSI
        2. Space and Defence
        3. Healthcare
        4. Transportation and Logistics
        5. Government
        6. Others
  8. Europe Quantum Photonics Market Size Analysis
    1. Introduction
    2. Quantum Photonics Market Market Size & Forecast By Offering 2022-2034 (USD MILLION/ Units)
      1. Systems
      2. Services
    3. Quantum Photonics Market Market Size & Forecast By Applications 2022-2034 (USD MILLION/ Units)
      1. Quantum Computing
      2. Quantum Sensing and Metrology 
      3. Quantum Communication
    4. Quantum Photonics Market Market Size & Forecast By Verticals 2022-2034 (USD MILLION/ Units)
      1. BFSI
      2. Space and Defence
      3. Healthcare
      4. Transportation and Logistics
      5. Government
      6. Others
    5. U.K.
      1. Introduction
      2. Market Size & Forecast By Offering 2022-2034 (USD MILLION/ Units)
        1. Systems
        2. Services
      3. Market Size & Forecast By Applications 2022-2034 (USD MILLION/ Units)
        1. Quantum Computing
        2. Quantum Sensing and Metrology 
        3. Quantum Communication
      4. Market Size & Forecast By Verticals 2022-2034 (USD MILLION/ Units)
        1. BFSI
        2. Space and Defence
        3. Healthcare
        4. Transportation and Logistics
        5. Government
        6. Others
    6. Germany
      1. Introduction
      2. Market Size & Forecast By Offering 2022-2034 (USD MILLION/ Units)
        1. Systems
        2. Services
      3. Market Size & Forecast By Applications 2022-2034 (USD MILLION/ Units)
        1. Quantum Computing
        2. Quantum Sensing and Metrology 
        3. Quantum Communication
      4. Market Size & Forecast By Verticals 2022-2034 (USD MILLION/ Units)
        1. BFSI
        2. Space and Defence
        3. Healthcare
        4. Transportation and Logistics
        5. Government
        6. Others
    7. France
      1. Introduction
      2. Market Size & Forecast By Offering 2022-2034 (USD MILLION/ Units)
        1. Systems
        2. Services
      3. Market Size & Forecast By Applications 2022-2034 (USD MILLION/ Units)
        1. Quantum Computing
        2. Quantum Sensing and Metrology 
        3. Quantum Communication
      4. Market Size & Forecast By Verticals 2022-2034 (USD MILLION/ Units)
        1. BFSI
        2. Space and Defence
        3. Healthcare
        4. Transportation and Logistics
        5. Government
        6. Others
    8. Spain
      1. Introduction
      2. Market Size & Forecast By Offering 2022-2034 (USD MILLION/ Units)
        1. Systems
        2. Services
      3. Market Size & Forecast By Applications 2022-2034 (USD MILLION/ Units)
        1. Quantum Computing
        2. Quantum Sensing and Metrology 
        3. Quantum Communication
      4. Market Size & Forecast By Verticals 2022-2034 (USD MILLION/ Units)
        1. BFSI
        2. Space and Defence
        3. Healthcare
        4. Transportation and Logistics
        5. Government
        6. Others
    9. Italy
      1. Introduction
      2. Market Size & Forecast By Offering 2022-2034 (USD MILLION/ Units)
        1. Systems
        2. Services
      3. Market Size & Forecast By Applications 2022-2034 (USD MILLION/ Units)
        1. Quantum Computing
        2. Quantum Sensing and Metrology 
        3. Quantum Communication
      4. Market Size & Forecast By Verticals 2022-2034 (USD MILLION/ Units)
        1. BFSI
        2. Space and Defence
        3. Healthcare
        4. Transportation and Logistics
        5. Government
        6. Others
    10. Russia
      1. Introduction
      2. Market Size & Forecast By Offering 2022-2034 (USD MILLION/ Units)
        1. Systems
        2. Services
      3. Market Size & Forecast By Applications 2022-2034 (USD MILLION/ Units)
        1. Quantum Computing
        2. Quantum Sensing and Metrology 
        3. Quantum Communication
      4. Market Size & Forecast By Verticals 2022-2034 (USD MILLION/ Units)
        1. BFSI
        2. Space and Defence
        3. Healthcare
        4. Transportation and Logistics
        5. Government
        6. Others
    11. Nordic
      1. Introduction
      2. Market Size & Forecast By Offering 2022-2034 (USD MILLION/ Units)
        1. Systems
        2. Services
      3. Market Size & Forecast By Applications 2022-2034 (USD MILLION/ Units)
        1. Quantum Computing
        2. Quantum Sensing and Metrology 
        3. Quantum Communication
      4. Market Size & Forecast By Verticals 2022-2034 (USD MILLION/ Units)
        1. BFSI
        2. Space and Defence
        3. Healthcare
        4. Transportation and Logistics
        5. Government
        6. Others
    12. Benelux
      1. Introduction
      2. Market Size & Forecast By Offering 2022-2034 (USD MILLION/ Units)
        1. Systems
        2. Services
      3. Market Size & Forecast By Applications 2022-2034 (USD MILLION/ Units)
        1. Quantum Computing
        2. Quantum Sensing and Metrology 
        3. Quantum Communication
      4. Market Size & Forecast By Verticals 2022-2034 (USD MILLION/ Units)
        1. BFSI
        2. Space and Defence
        3. Healthcare
        4. Transportation and Logistics
        5. Government
        6. Others
    13. Rest of Europe
      1. Introduction
      2. Market Size & Forecast By Offering 2022-2034 (USD MILLION/ Units)
        1. Systems
        2. Services
      3. Market Size & Forecast By Applications 2022-2034 (USD MILLION/ Units)
        1. Quantum Computing
        2. Quantum Sensing and Metrology 
        3. Quantum Communication
      4. Market Size & Forecast By Verticals 2022-2034 (USD MILLION/ Units)
        1. BFSI
        2. Space and Defence
        3. Healthcare
        4. Transportation and Logistics
        5. Government
        6. Others
  9. APAC Quantum Photonics Market Size Analysis
    1. Introduction
    2. Quantum Photonics Market Market Size & Forecast By Offering 2022-2034 (USD MILLION/ Units)
      1. Systems
      2. Services
    3. Quantum Photonics Market Market Size & Forecast By Applications 2022-2034 (USD MILLION/ Units)
      1. Quantum Computing
      2. Quantum Sensing and Metrology 
      3. Quantum Communication
    4. Quantum Photonics Market Market Size & Forecast By Verticals 2022-2034 (USD MILLION/ Units)
      1. BFSI
      2. Space and Defence
      3. Healthcare
      4. Transportation and Logistics
      5. Government
      6. Others
    5. China
      1. Introduction
      2. Market Size & Forecast By Offering 2022-2034 (USD MILLION/ Units)
        1. Systems
        2. Services
      3. Market Size & Forecast By Applications 2022-2034 (USD MILLION/ Units)
        1. Quantum Computing
        2. Quantum Sensing and Metrology 
        3. Quantum Communication
      4. Market Size & Forecast By Verticals 2022-2034 (USD MILLION/ Units)
        1. BFSI
        2. Space and Defence
        3. Healthcare
        4. Transportation and Logistics
        5. Government
        6. Others
    6. Korea
      1. Introduction
      2. Market Size & Forecast By Offering 2022-2034 (USD MILLION/ Units)
        1. Systems
        2. Services
      3. Market Size & Forecast By Applications 2022-2034 (USD MILLION/ Units)
        1. Quantum Computing
        2. Quantum Sensing and Metrology 
        3. Quantum Communication
      4. Market Size & Forecast By Verticals 2022-2034 (USD MILLION/ Units)
        1. BFSI
        2. Space and Defence
        3. Healthcare
        4. Transportation and Logistics
        5. Government
        6. Others
    7. Japan
      1. Introduction
      2. Market Size & Forecast By Offering 2022-2034 (USD MILLION/ Units)
        1. Systems
        2. Services
      3. Market Size & Forecast By Applications 2022-2034 (USD MILLION/ Units)
        1. Quantum Computing
        2. Quantum Sensing and Metrology 
        3. Quantum Communication
      4. Market Size & Forecast By Verticals 2022-2034 (USD MILLION/ Units)
        1. BFSI
        2. Space and Defence
        3. Healthcare
        4. Transportation and Logistics
        5. Government
        6. Others
    8. India
      1. Introduction
      2. Market Size & Forecast By Offering 2022-2034 (USD MILLION/ Units)
        1. Systems
        2. Services
      3. Market Size & Forecast By Applications 2022-2034 (USD MILLION/ Units)
        1. Quantum Computing
        2. Quantum Sensing and Metrology 
        3. Quantum Communication
      4. Market Size & Forecast By Verticals 2022-2034 (USD MILLION/ Units)
        1. BFSI
        2. Space and Defence
        3. Healthcare
        4. Transportation and Logistics
        5. Government
        6. Others
    9. Australia
      1. Introduction
      2. Market Size & Forecast By Offering 2022-2034 (USD MILLION/ Units)
        1. Systems
        2. Services
      3. Market Size & Forecast By Applications 2022-2034 (USD MILLION/ Units)
        1. Quantum Computing
        2. Quantum Sensing and Metrology 
        3. Quantum Communication
      4. Market Size & Forecast By Verticals 2022-2034 (USD MILLION/ Units)
        1. BFSI
        2. Space and Defence
        3. Healthcare
        4. Transportation and Logistics
        5. Government
        6. Others
    10. Singapore
      1. Introduction
      2. Market Size & Forecast By Offering 2022-2034 (USD MILLION/ Units)
        1. Systems
        2. Services
      3. Market Size & Forecast By Applications 2022-2034 (USD MILLION/ Units)
        1. Quantum Computing
        2. Quantum Sensing and Metrology 
        3. Quantum Communication
      4. Market Size & Forecast By Verticals 2022-2034 (USD MILLION/ Units)
        1. BFSI
        2. Space and Defence
        3. Healthcare
        4. Transportation and Logistics
        5. Government
        6. Others
    11. Taiwan
      1. Introduction
      2. Market Size & Forecast By Offering 2022-2034 (USD MILLION/ Units)
        1. Systems
        2. Services
      3. Market Size & Forecast By Applications 2022-2034 (USD MILLION/ Units)
        1. Quantum Computing
        2. Quantum Sensing and Metrology 
        3. Quantum Communication
      4. Market Size & Forecast By Verticals 2022-2034 (USD MILLION/ Units)
        1. BFSI
        2. Space and Defence
        3. Healthcare
        4. Transportation and Logistics
        5. Government
        6. Others
    12. South East Asia
      1. Introduction
      2. Market Size & Forecast By Offering 2022-2034 (USD MILLION/ Units)
        1. Systems
        2. Services
      3. Market Size & Forecast By Applications 2022-2034 (USD MILLION/ Units)
        1. Quantum Computing
        2. Quantum Sensing and Metrology 
        3. Quantum Communication
      4. Market Size & Forecast By Verticals 2022-2034 (USD MILLION/ Units)
        1. BFSI
        2. Space and Defence
        3. Healthcare
        4. Transportation and Logistics
        5. Government
        6. Others
    13. Rest of Asia-Pacific
      1. Introduction
      2. Market Size & Forecast By Offering 2022-2034 (USD MILLION/ Units)
        1. Systems
        2. Services
      3. Market Size & Forecast By Applications 2022-2034 (USD MILLION/ Units)
        1. Quantum Computing
        2. Quantum Sensing and Metrology 
        3. Quantum Communication
      4. Market Size & Forecast By Verticals 2022-2034 (USD MILLION/ Units)
        1. BFSI
        2. Space and Defence
        3. Healthcare
        4. Transportation and Logistics
        5. Government
        6. Others
  10. Middle East and Africa Quantum Photonics Market Size Analysis
    1. Introduction
    2. Quantum Photonics Market Market Size & Forecast By Offering 2022-2034 (USD MILLION/ Units)
      1. Systems
      2. Services
    3. Quantum Photonics Market Market Size & Forecast By Applications 2022-2034 (USD MILLION/ Units)
      1. Quantum Computing
      2. Quantum Sensing and Metrology 
      3. Quantum Communication
    4. Quantum Photonics Market Market Size & Forecast By Verticals 2022-2034 (USD MILLION/ Units)
      1. BFSI
      2. Space and Defence
      3. Healthcare
      4. Transportation and Logistics
      5. Government
      6. Others
    5. UAE
      1. Introduction
      2. Market Size & Forecast By Offering 2022-2034 (USD MILLION/ Units)
        1. Systems
        2. Services
      3. Market Size & Forecast By Applications 2022-2034 (USD MILLION/ Units)
        1. Quantum Computing
        2. Quantum Sensing and Metrology 
        3. Quantum Communication
      4. Market Size & Forecast By Verticals 2022-2034 (USD MILLION/ Units)
        1. BFSI
        2. Space and Defence
        3. Healthcare
        4. Transportation and Logistics
        5. Government
        6. Others
    6. Turkey
      1. Introduction
      2. Market Size & Forecast By Offering 2022-2034 (USD MILLION/ Units)
        1. Systems
        2. Services
      3. Market Size & Forecast By Applications 2022-2034 (USD MILLION/ Units)
        1. Quantum Computing
        2. Quantum Sensing and Metrology 
        3. Quantum Communication
      4. Market Size & Forecast By Verticals 2022-2034 (USD MILLION/ Units)
        1. BFSI
        2. Space and Defence
        3. Healthcare
        4. Transportation and Logistics
        5. Government
        6. Others
    7. Saudi Arabia
      1. Introduction
      2. Market Size & Forecast By Offering 2022-2034 (USD MILLION/ Units)
        1. Systems
        2. Services
      3. Market Size & Forecast By Applications 2022-2034 (USD MILLION/ Units)
        1. Quantum Computing
        2. Quantum Sensing and Metrology 
        3. Quantum Communication
      4. Market Size & Forecast By Verticals 2022-2034 (USD MILLION/ Units)
        1. BFSI
        2. Space and Defence
        3. Healthcare
        4. Transportation and Logistics
        5. Government
        6. Others
    8. South Africa
      1. Introduction
      2. Market Size & Forecast By Offering 2022-2034 (USD MILLION/ Units)
        1. Systems
        2. Services
      3. Market Size & Forecast By Applications 2022-2034 (USD MILLION/ Units)
        1. Quantum Computing
        2. Quantum Sensing and Metrology 
        3. Quantum Communication
      4. Market Size & Forecast By Verticals 2022-2034 (USD MILLION/ Units)
        1. BFSI
        2. Space and Defence
        3. Healthcare
        4. Transportation and Logistics
        5. Government
        6. Others
    9. Egypt
      1. Introduction
      2. Market Size & Forecast By Offering 2022-2034 (USD MILLION/ Units)
        1. Systems
        2. Services
      3. Market Size & Forecast By Applications 2022-2034 (USD MILLION/ Units)
        1. Quantum Computing
        2. Quantum Sensing and Metrology 
        3. Quantum Communication
      4. Market Size & Forecast By Verticals 2022-2034 (USD MILLION/ Units)
        1. BFSI
        2. Space and Defence
        3. Healthcare
        4. Transportation and Logistics
        5. Government
        6. Others
    10. Nigeria
      1. Introduction
      2. Market Size & Forecast By Offering 2022-2034 (USD MILLION/ Units)
        1. Systems
        2. Services
      3. Market Size & Forecast By Applications 2022-2034 (USD MILLION/ Units)
        1. Quantum Computing
        2. Quantum Sensing and Metrology 
        3. Quantum Communication
      4. Market Size & Forecast By Verticals 2022-2034 (USD MILLION/ Units)
        1. BFSI
        2. Space and Defence
        3. Healthcare
        4. Transportation and Logistics
        5. Government
        6. Others
    11. Rest of MEA
      1. Introduction
      2. Market Size & Forecast By Offering 2022-2034 (USD MILLION/ Units)
        1. Systems
        2. Services
      3. Market Size & Forecast By Applications 2022-2034 (USD MILLION/ Units)
        1. Quantum Computing
        2. Quantum Sensing and Metrology 
        3. Quantum Communication
      4. Market Size & Forecast By Verticals 2022-2034 (USD MILLION/ Units)
        1. BFSI
        2. Space and Defence
        3. Healthcare
        4. Transportation and Logistics
        5. Government
        6. Others
  11. LATAM Quantum Photonics Market Size Analysis
    1. Introduction
    2. Quantum Photonics Market Market Size & Forecast By Offering 2022-2034 (USD MILLION/ Units)
      1. Systems
      2. Services
    3. Quantum Photonics Market Market Size & Forecast By Applications 2022-2034 (USD MILLION/ Units)
      1. Quantum Computing
      2. Quantum Sensing and Metrology 
      3. Quantum Communication
    4. Quantum Photonics Market Market Size & Forecast By Verticals 2022-2034 (USD MILLION/ Units)
      1. BFSI
      2. Space and Defence
      3. Healthcare
      4. Transportation and Logistics
      5. Government
      6. Others
    5. Brazil
      1. Introduction
      2. Market Size & Forecast By Offering 2022-2034 (USD MILLION/ Units)
        1. Systems
        2. Services
      3. Market Size & Forecast By Applications 2022-2034 (USD MILLION/ Units)
        1. Quantum Computing
        2. Quantum Sensing and Metrology 
        3. Quantum Communication
      4. Market Size & Forecast By Verticals 2022-2034 (USD MILLION/ Units)
        1. BFSI
        2. Space and Defence
        3. Healthcare
        4. Transportation and Logistics
        5. Government
        6. Others
    6. Mexico
      1. Introduction
      2. Market Size & Forecast By Offering 2022-2034 (USD MILLION/ Units)
        1. Systems
        2. Services
      3. Market Size & Forecast By Applications 2022-2034 (USD MILLION/ Units)
        1. Quantum Computing
        2. Quantum Sensing and Metrology 
        3. Quantum Communication
      4. Market Size & Forecast By Verticals 2022-2034 (USD MILLION/ Units)
        1. BFSI
        2. Space and Defence
        3. Healthcare
        4. Transportation and Logistics
        5. Government
        6. Others
    7. Argentina
      1. Introduction
      2. Market Size & Forecast By Offering 2022-2034 (USD MILLION/ Units)
        1. Systems
        2. Services
      3. Market Size & Forecast By Applications 2022-2034 (USD MILLION/ Units)
        1. Quantum Computing
        2. Quantum Sensing and Metrology 
        3. Quantum Communication
      4. Market Size & Forecast By Verticals 2022-2034 (USD MILLION/ Units)
        1. BFSI
        2. Space and Defence
        3. Healthcare
        4. Transportation and Logistics
        5. Government
        6. Others
    8. Chile
      1. Introduction
      2. Market Size & Forecast By Offering 2022-2034 (USD MILLION/ Units)
        1. Systems
        2. Services
      3. Market Size & Forecast By Applications 2022-2034 (USD MILLION/ Units)
        1. Quantum Computing
        2. Quantum Sensing and Metrology 
        3. Quantum Communication
      4. Market Size & Forecast By Verticals 2022-2034 (USD MILLION/ Units)
        1. BFSI
        2. Space and Defence
        3. Healthcare
        4. Transportation and Logistics
        5. Government
        6. Others
    9. Colombia
      1. Introduction
      2. Market Size & Forecast By Offering 2022-2034 (USD MILLION/ Units)
        1. Systems
        2. Services
      3. Market Size & Forecast By Applications 2022-2034 (USD MILLION/ Units)
        1. Quantum Computing
        2. Quantum Sensing and Metrology 
        3. Quantum Communication
      4. Market Size & Forecast By Verticals 2022-2034 (USD MILLION/ Units)
        1. BFSI
        2. Space and Defence
        3. Healthcare
        4. Transportation and Logistics
        5. Government
        6. Others
    10. Rest of LATAM
      1. Introduction
      2. Market Size & Forecast By Offering 2022-2034 (USD MILLION/ Units)
        1. Systems
        2. Services
      3. Market Size & Forecast By Applications 2022-2034 (USD MILLION/ Units)
        1. Quantum Computing
        2. Quantum Sensing and Metrology 
        3. Quantum Communication
      4. Market Size & Forecast By Verticals 2022-2034 (USD MILLION/ Units)
        1. BFSI
        2. Space and Defence
        3. Healthcare
        4. Transportation and Logistics
        5. Government
        6. Others
  12. Competitive Landscape
    1. Quantum Photonics Market Share By Players
    2. M&A Agreements & Collaboration Analysis
    3. Tier Structure Analysis
    4. Recent Developments
  13. Market Players Assessment
    1. IBM
      1. Overview
      2. Business Information
      3. Revenue
      4. ASP
      5. SWOT Analysis
      6. Recent Developments
    2. Google
    3. Toshiba Corporation
    4. Quandela
    5. ID Quantique
    6. Rigetti Computing
    7. Microsoft
    8. D-Wave Systems
    9. Alibaba Group
    10. Xanadu
    11. Intel
    12. Nvidia
    13. Pasqal
    14. Quantum Computing Inc.
  14. Research Methodology
    1. Research Data
      1. Secondary Data
        1. Major Secondary Sources
        2. Key Data from Secondary Sources
      2. Primary Data
        1. Key Data from Primary Sources
        2. Breakdown of Primaries
      3. Secondary And Primary Research
        1. Key Industry Insights
    2. Market Size Estimation
      1. Bottom-Up Approach
      2. Top-Down Approach
      3. Market Projection
    3. Research Assumptions
      1. Assumptions
    4. Limitations
    5. Risk Assessment
  15. Appendix
    1. Discussion Guide
    2. Customization Options
    3. Related Reports
  16. Disclaimer
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