▶ 調査レポート

自動車用合流アシストシステムの世界市場見通し2023年-2029年

• 英文タイトル:Automobile Merging Assist System Market, Global Outlook and Forecast 2023-2029

Market Monitor Globalが調査・発行した産業分析レポートです。自動車用合流アシストシステムの世界市場見通し2023年-2029年 / Automobile Merging Assist System Market, Global Outlook and Forecast 2023-2029 / MRC2312MG14386資料のイメージです。• レポートコード:MRC2312MG14386
• 出版社/出版日:Market Monitor Global / 2023年12月
• レポート形態:英文、PDF、118ページ
• 納品方法:Eメール(納期:3営業日)
• 産業分類:自動車&輸送
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レポート概要
当調査レポートは次の情報を含め、世界の自動車用合流アシストシステム市場規模と予測を収録しています。・世界の自動車用合流アシストシステム市場:売上、2018年-2023年、2024年-2029年
・世界の自動車用合流アシストシステム市場:販売量、2018年-2023年、2024年-2029年
・世界のトップ5企業、2022年

世界の自動車用合流アシストシステム市場は2022年に000Mドルと評価され、予測期間中に000%のCAGRで2029年までに000Mドルに達すると予測されています。米国市場は2022年に000Mドルと推定されており、中国は2029年までに000Mドルに達すると予測されています。「レーダー監視」セグメントは今後6年間、000%のCAGRで2029年までに000Mドルに成長すると予測されています。

自動車用合流アシストシステムのグローバル主要企業は、Valeo、 Bosch、 NXP、 Murata Manufacturing、 Audiowell Electronics、 Denso、 Continental Automotive、 Nissan、 Ford、 Magna、 Steelmate、 Sensata Technologies、 Audiowell Electronics、 Longhorn Auto、 Zhengzhou Tiamaes Technologyなどです。2022年にトップ5企業がグローバル売上シェアの約000%を占めています。

MARKET MONITOR GLOBAL(MMG)は、自動車用合流アシストシステムのメーカー、サプライヤー、流通業者、および業界の専門家を調査しました。これには、販売量、売上、需要、価格変動、製品タイプ、最近の動向と計画、産業トレンド、成長要因、課題、阻害要因、潜在的なリスクなどが含まれます。

【セグメント別市場分析】

世界の自動車用合流アシストシステム市場:タイプ別、2018年-2023年、2024年-2029年
世界の自動車用合流アシストシステム市場:タイプ別市場シェア、2022年
・レーダー監視、カメラ監視

世界の自動車用合流アシストシステム市場:用途別、2018年-2023年、2024年-2029年
世界の自動車用合流アシストシステム市場:用途別市場シェア、2022年
・乗用車、商用車

世界の自動車用合流アシストシステム市場:地域・国別、2018年-2023年、2024年-2029年
世界の自動車用合流アシストシステム市場:地域別市場シェア、2022年
・北米:アメリカ、カナダ、メキシコ
・ヨーロッパ:ドイツ、フランス、イギリス、イタリア、ロシア
・アジア:中国、日本、韓国、東南アジア、インド
・南米:ブラジル、アルゼンチン
・中東・アフリカ:トルコ、イスラエル、サウジアラビア、UAE

【競合分析】

また、当レポートは主要な市場参加者の分析を提供します。
・主要企業における自動車用合流アシストシステムのグローバル売上、2018年-2023年
・主要企業における自動車用合流アシストシステムのグローバル売上シェア、2022年
・主要企業における自動車用合流アシストシステムのグローバル販売量、2018年-2023年
・主要企業における自動車用合流アシストシステムのグローバル販売量シェア、2022年

さらに、当レポートは主要企業のプロファイルを提示します。
Valeo、 Bosch、 NXP、 Murata Manufacturing、 Audiowell Electronics、 Denso、 Continental Automotive、 Nissan、 Ford、 Magna、 Steelmate、 Sensata Technologies、 Audiowell Electronics、 Longhorn Auto、 Zhengzhou Tiamaes Technology

*************************************************************

・調査・分析レポートの概要
自動車用合流アシストシステム市場の定義
市場セグメント
世界の自動車用合流アシストシステム市場概要
当レポートの特徴・ベネフィット
調査手法と情報源

・世界の自動車用合流アシストシステム市場規模
世界の自動車用合流アシストシステム市場規模:2022年 VS 2029年
世界の自動車用合流アシストシステム市場規模と予測 2018年-2029年

・競争状況
グローバルトップ企業
売上ベースでのグローバルトップ企業
企業別グローバルでの自動車用合流アシストシステムの売上
グローバルトップ3およびトップ5企業、2022年売上ベース
グローバル企業の自動車用合流アシストシステム製品タイプ
グローバルにおけるティア1、ティア2、ティア3企業

・タイプ別市場分析
タイプ区分:レーダー監視、カメラ監視
自動車用合流アシストシステムのタイプ別グローバル売上・予測

・用途別市場分析
用途区分:乗用車、商用車
自動車用合流アシストシステムの用途別グローバル売上・予測

・地域別市場分析
地域別自動車用合流アシストシステム市場規模 2022年と2029年
地域別自動車用合流アシストシステム売上・予測
北米市場:アメリカ、カナダ、メキシコ
ヨーロッパ市場:ドイツ、フランス、イギリス、イタリア、ロシア
アジア市場:中国、日本、韓国、東南アジア、インド
南米市場:ブラジル、アルゼンチン
中東・アフリカ市場:トルコ、イスラエル、サウジアラビア、UAE

・主要企業のプロファイル(企業概要、事業概要、主要製品、売上、ニュースなど)
Valeo、 Bosch、 NXP、 Murata Manufacturing、 Audiowell Electronics、 Denso、 Continental Automotive、 Nissan、 Ford、 Magna、 Steelmate、 Sensata Technologies、 Audiowell Electronics、 Longhorn Auto、 Zhengzhou Tiamaes Technology
...

This research report provides a comprehensive analysis of the Automobile Merging Assist System market, focusing on the current trends, market dynamics, and future prospects. The report explores the global Automobile Merging Assist System market, including major regions such as North America, Europe, Asia-Pacific, and emerging markets. It also examines key factors driving the growth of Automobile Merging Assist System, challenges faced by the industry, and potential opportunities for market players.
The global Automobile Merging Assist System market has witnessed rapid growth in recent years, driven by increasing environmental concerns, government incentives, and advancements in technology. The Automobile Merging Assist System market presents opportunities for various stakeholders, including Passenger Vehicles, Commercial Vehicles. Collaboration between the private sector and governments can accelerate the development of supportive policies, research and development efforts, and investment in Automobile Merging Assist System market. Additionally, the growing consumer demand present avenues for market expansion.
The global Automobile Merging Assist System market was valued at US$ million in 2022 and is projected to reach US$ million by 2029, at a CAGR of % during the forecast period. The influence of COVID-19 and the Russia-Ukraine War were considered while estimating market sizes.
Key Features:
The research report on the Automobile Merging Assist System market includes several key features to provide comprehensive insights and facilitate decision-making for stakeholders.
Executive Summary: The report provides overview of the key findings, market trends, and major insights of the Automobile Merging Assist System market.
Market Overview: The report provides a comprehensive overview of the Automobile Merging Assist System market, including its definition, historical development, and current market size. It covers market segmentation by Type (e.g., Monitoring by Radar, Monitoring by Camera), region, and application, highlighting the key drivers, challenges, and opportunities within each segment.
Market Dynamics: The report analyses the market dynamics driving the growth and development of the Automobile Merging Assist System market. The report includes an assessment of government policies and regulations, technological advancements, consumer trends and preferences, infrastructure development, and industry collaborations. This analysis helps stakeholders understand the factors influencing the Automobile Merging Assist System market’s trajectory.
Competitive Landscape: The report provides an in-depth analysis of the competitive landscape within the Automobile Merging Assist System market. It includes profiles of major market players, their market share, strategies, product portfolios, and recent developments.
Market Segmentation and Forecast: The report segment the Automobile Merging Assist System market based on various parameters, such as by Type, region, and by Application. It provides market size and growth forecasts for each segment, supported by quantitative data and analysis. This helps stakeholders identify growth opportunities and make informed investment decisions.
Technological Trends: The report should highlight the key technological trends shaping the Automobile Merging Assist System market, such as advancements in Type One technology and emerging substitutes. It analyses the impact of these trends on market growth, adoption rates, and consumer preferences.
Market Challenges and Opportunities: The report identify and analyses the major challenges faced by the Automobile Merging Assist System market, such as technical bottleneck, cost limitations, and high entry barrier. It also highlights the opportunities for market growth, such as government incentives, emerging markets, and collaborations between stakeholders.
Regulatory and Policy Analysis: The report should assess the regulatory and policy landscape for Automobile Merging Assist System, including government incentives, emission standards, and infrastructure development plans. It should analyse the impact of these policies on market growth and provide insights into future regulatory developments.
Recommendations and Conclusion: The report conclude with actionable recommendations for stakeholders, such as Application One Consumer, policymakers, investors, and infrastructure providers. These recommendations should be based on the research findings and address key challenges and opportunities within the Automobile Merging Assist System market.
Supporting Data and Appendices: The report include supporting data, charts, and graphs to substantiate the analysis and findings. It also includes appendices with additional detailed information, such as data sources, survey questionnaires, and detailed market forecasts.
Market Segmentation
Automobile Merging Assist System market is split by Type and by Application. For the period 2018-2029, the growth among segments provides accurate calculations and forecasts for consumption value by Type, and by Application in terms of volume and value.
Market segment by Type
Monitoring by Radar
Monitoring by Camera
Market segment by Application
Passenger Vehicles
Commercial Vehicles
Global Automobile Merging Assist System Market Segment Percentages, By Region and Country, 2022 (%)
North America
US
Canada
Mexico
Europe
Germany
France
U.K.
Italy
Russia
Nordic Countries
Benelux
Rest of Europe
Asia
China
Japan
South Korea
Southeast Asia
India
Rest of Asia
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
Turkey
Israel
Saudi Arabia
UAE
Rest of Middle East & Africa
Major players covered
Valeo
Bosch
NXP
Murata Manufacturing
Audiowell Electronics
Denso
Continental Automotive
Nissan
Ford
Magna
Steelmate
Sensata Technologies
Audiowell Electronics
Longhorn Auto
Zhengzhou Tiamaes Technology
Outline of Major Chapters:
Chapter 1: Introduces the definition of Automobile Merging Assist System, market overview.
Chapter 2: Global Automobile Merging Assist System market size in revenue and volume.
Chapter 3: Detailed analysis of Automobile Merging Assist System manufacturers competitive landscape, price, sales and revenue market share, latest development plan, merger, and acquisition information, etc.
Chapter 4: 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 5: 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 6: Sales of Automobile Merging Assist System 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 of each country in the world.
Chapter 7: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
Chapter 8: Global Automobile Merging Assist System capacity by region & country.
Chapter 9: 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 10: Analysis of industrial chain, including the upstream and downstream of the industry.
Chapter 11: The main points and conclusions of the report.

レポート目次

1 Introduction to Research & Analysis Reports
1.1 Automobile Merging Assist System Market Definition
1.2 Market Segments
1.2.1 Market by Type
1.2.2 Market by Application
1.3 Global Automobile Merging Assist System Market Overview
1.4 Features & Benefits of This Report
1.5 Methodology & Sources of Information
1.5.1 Research Methodology
1.5.2 Research Process
1.5.3 Base Year
1.5.4 Report Assumptions & Caveats
2 Global Automobile Merging Assist System Overall Market Size
2.1 Global Automobile Merging Assist System Market Size: 2022 VS 2029
2.2 Global Automobile Merging Assist System Revenue, Prospects & Forecasts: 2018-2029
2.3 Global Automobile Merging Assist System Sales: 2018-2029
3 Company Landscape
3.1 Top Automobile Merging Assist System Players in Global Market
3.2 Top Global Automobile Merging Assist System Companies Ranked by Revenue
3.3 Global Automobile Merging Assist System Revenue by Companies
3.4 Global Automobile Merging Assist System Sales by Companies
3.5 Global Automobile Merging Assist System Price by Manufacturer (2018-2023)
3.6 Top 3 and Top 5 Automobile Merging Assist System Companies in Global Market, by Revenue in 2022
3.7 Global Manufacturers Automobile Merging Assist System Product Type
3.8 Tier 1, Tier 2 and Tier 3 Automobile Merging Assist System Players in Global Market
3.8.1 List of Global Tier 1 Automobile Merging Assist System Companies
3.8.2 List of Global Tier 2 and Tier 3 Automobile Merging Assist System Companies
4 Sights by Product
4.1 Overview
4.1.1 By Type – Global Automobile Merging Assist System Market Size Markets, 2022 & 2029
4.1.2 Monitoring by Radar
4.1.3 Monitoring by Camera
4.2 By Type – Global Automobile Merging Assist System Revenue & Forecasts
4.2.1 By Type – Global Automobile Merging Assist System Revenue, 2018-2023
4.2.2 By Type – Global Automobile Merging Assist System Revenue, 2024-2029
4.2.3 By Type – Global Automobile Merging Assist System Revenue Market Share, 2018-2029
4.3 By Type – Global Automobile Merging Assist System Sales & Forecasts
4.3.1 By Type – Global Automobile Merging Assist System Sales, 2018-2023
4.3.2 By Type – Global Automobile Merging Assist System Sales, 2024-2029
4.3.3 By Type – Global Automobile Merging Assist System Sales Market Share, 2018-2029
4.4 By Type – Global Automobile Merging Assist System Price (Manufacturers Selling Prices), 2018-2029
5 Sights by Application
5.1 Overview
5.1.1 By Application – Global Automobile Merging Assist System Market Size, 2022 & 2029
5.1.2 Passenger Vehicles
5.1.3 Commercial Vehicles
5.2 By Application – Global Automobile Merging Assist System Revenue & Forecasts
5.2.1 By Application – Global Automobile Merging Assist System Revenue, 2018-2023
5.2.2 By Application – Global Automobile Merging Assist System Revenue, 2024-2029
5.2.3 By Application – Global Automobile Merging Assist System Revenue Market Share, 2018-2029
5.3 By Application – Global Automobile Merging Assist System Sales & Forecasts
5.3.1 By Application – Global Automobile Merging Assist System Sales, 2018-2023
5.3.2 By Application – Global Automobile Merging Assist System Sales, 2024-2029
5.3.3 By Application – Global Automobile Merging Assist System Sales Market Share, 2018-2029
5.4 By Application – Global Automobile Merging Assist System Price (Manufacturers Selling Prices), 2018-2029
6 Sights by Region
6.1 By Region – Global Automobile Merging Assist System Market Size, 2022 & 2029
6.2 By Region – Global Automobile Merging Assist System Revenue & Forecasts
6.2.1 By Region – Global Automobile Merging Assist System Revenue, 2018-2023
6.2.2 By Region – Global Automobile Merging Assist System Revenue, 2024-2029
6.2.3 By Region – Global Automobile Merging Assist System Revenue Market Share, 2018-2029
6.3 By Region – Global Automobile Merging Assist System Sales & Forecasts
6.3.1 By Region – Global Automobile Merging Assist System Sales, 2018-2023
6.3.2 By Region – Global Automobile Merging Assist System Sales, 2024-2029
6.3.3 By Region – Global Automobile Merging Assist System Sales Market Share, 2018-2029
6.4 North America
6.4.1 By Country – North America Automobile Merging Assist System Revenue, 2018-2029
6.4.2 By Country – North America Automobile Merging Assist System Sales, 2018-2029
6.4.3 US Automobile Merging Assist System Market Size, 2018-2029
6.4.4 Canada Automobile Merging Assist System Market Size, 2018-2029
6.4.5 Mexico Automobile Merging Assist System Market Size, 2018-2029
6.5 Europe
6.5.1 By Country – Europe Automobile Merging Assist System Revenue, 2018-2029
6.5.2 By Country – Europe Automobile Merging Assist System Sales, 2018-2029
6.5.3 Germany Automobile Merging Assist System Market Size, 2018-2029
6.5.4 France Automobile Merging Assist System Market Size, 2018-2029
6.5.5 U.K. Automobile Merging Assist System Market Size, 2018-2029
6.5.6 Italy Automobile Merging Assist System Market Size, 2018-2029
6.5.7 Russia Automobile Merging Assist System Market Size, 2018-2029
6.5.8 Nordic Countries Automobile Merging Assist System Market Size, 2018-2029
6.5.9 Benelux Automobile Merging Assist System Market Size, 2018-2029
6.6 Asia
6.6.1 By Region – Asia Automobile Merging Assist System Revenue, 2018-2029
6.6.2 By Region – Asia Automobile Merging Assist System Sales, 2018-2029
6.6.3 China Automobile Merging Assist System Market Size, 2018-2029
6.6.4 Japan Automobile Merging Assist System Market Size, 2018-2029
6.6.5 South Korea Automobile Merging Assist System Market Size, 2018-2029
6.6.6 Southeast Asia Automobile Merging Assist System Market Size, 2018-2029
6.6.7 India Automobile Merging Assist System Market Size, 2018-2029
6.7 South America
6.7.1 By Country – South America Automobile Merging Assist System Revenue, 2018-2029
6.7.2 By Country – South America Automobile Merging Assist System Sales, 2018-2029
6.7.3 Brazil Automobile Merging Assist System Market Size, 2018-2029
6.7.4 Argentina Automobile Merging Assist System Market Size, 2018-2029
6.8 Middle East & Africa
6.8.1 By Country – Middle East & Africa Automobile Merging Assist System Revenue, 2018-2029
6.8.2 By Country – Middle East & Africa Automobile Merging Assist System Sales, 2018-2029
6.8.3 Turkey Automobile Merging Assist System Market Size, 2018-2029
6.8.4 Israel Automobile Merging Assist System Market Size, 2018-2029
6.8.5 Saudi Arabia Automobile Merging Assist System Market Size, 2018-2029
6.8.6 UAE Automobile Merging Assist System Market Size, 2018-2029
7 Manufacturers & Brands Profiles
7.1 Valeo
7.1.1 Valeo Company Summary
7.1.2 Valeo Business Overview
7.1.3 Valeo Automobile Merging Assist System Major Product Offerings
7.1.4 Valeo Automobile Merging Assist System Sales and Revenue in Global (2018-2023)
7.1.5 Valeo Key News & Latest Developments
7.2 Bosch
7.2.1 Bosch Company Summary
7.2.2 Bosch Business Overview
7.2.3 Bosch Automobile Merging Assist System Major Product Offerings
7.2.4 Bosch Automobile Merging Assist System Sales and Revenue in Global (2018-2023)
7.2.5 Bosch Key News & Latest Developments
7.3 NXP
7.3.1 NXP Company Summary
7.3.2 NXP Business Overview
7.3.3 NXP Automobile Merging Assist System Major Product Offerings
7.3.4 NXP Automobile Merging Assist System Sales and Revenue in Global (2018-2023)
7.3.5 NXP Key News & Latest Developments
7.4 Murata Manufacturing
7.4.1 Murata Manufacturing Company Summary
7.4.2 Murata Manufacturing Business Overview
7.4.3 Murata Manufacturing Automobile Merging Assist System Major Product Offerings
7.4.4 Murata Manufacturing Automobile Merging Assist System Sales and Revenue in Global (2018-2023)
7.4.5 Murata Manufacturing Key News & Latest Developments
7.5 Audiowell Electronics
7.5.1 Audiowell Electronics Company Summary
7.5.2 Audiowell Electronics Business Overview
7.5.3 Audiowell Electronics Automobile Merging Assist System Major Product Offerings
7.5.4 Audiowell Electronics Automobile Merging Assist System Sales and Revenue in Global (2018-2023)
7.5.5 Audiowell Electronics Key News & Latest Developments
7.6 Denso
7.6.1 Denso Company Summary
7.6.2 Denso Business Overview
7.6.3 Denso Automobile Merging Assist System Major Product Offerings
7.6.4 Denso Automobile Merging Assist System Sales and Revenue in Global (2018-2023)
7.6.5 Denso Key News & Latest Developments
7.7 Continental Automotive
7.7.1 Continental Automotive Company Summary
7.7.2 Continental Automotive Business Overview
7.7.3 Continental Automotive Automobile Merging Assist System Major Product Offerings
7.7.4 Continental Automotive Automobile Merging Assist System Sales and Revenue in Global (2018-2023)
7.7.5 Continental Automotive Key News & Latest Developments
7.8 Nissan
7.8.1 Nissan Company Summary
7.8.2 Nissan Business Overview
7.8.3 Nissan Automobile Merging Assist System Major Product Offerings
7.8.4 Nissan Automobile Merging Assist System Sales and Revenue in Global (2018-2023)
7.8.5 Nissan Key News & Latest Developments
7.9 Ford
7.9.1 Ford Company Summary
7.9.2 Ford Business Overview
7.9.3 Ford Automobile Merging Assist System Major Product Offerings
7.9.4 Ford Automobile Merging Assist System Sales and Revenue in Global (2018-2023)
7.9.5 Ford Key News & Latest Developments
7.10 Magna
7.10.1 Magna Company Summary
7.10.2 Magna Business Overview
7.10.3 Magna Automobile Merging Assist System Major Product Offerings
7.10.4 Magna Automobile Merging Assist System Sales and Revenue in Global (2018-2023)
7.10.5 Magna Key News & Latest Developments
7.11 Steelmate
7.11.1 Steelmate Company Summary
7.11.2 Steelmate Business Overview
7.11.3 Steelmate Automobile Merging Assist System Major Product Offerings
7.11.4 Steelmate Automobile Merging Assist System Sales and Revenue in Global (2018-2023)
7.11.5 Steelmate Key News & Latest Developments
7.12 Sensata Technologies
7.12.1 Sensata Technologies Company Summary
7.12.2 Sensata Technologies Business Overview
7.12.3 Sensata Technologies Automobile Merging Assist System Major Product Offerings
7.12.4 Sensata Technologies Automobile Merging Assist System Sales and Revenue in Global (2018-2023)
7.12.5 Sensata Technologies Key News & Latest Developments
7.13 Audiowell Electronics
7.13.1 Audiowell Electronics Company Summary
7.13.2 Audiowell Electronics Business Overview
7.13.3 Audiowell Electronics Automobile Merging Assist System Major Product Offerings
7.13.4 Audiowell Electronics Automobile Merging Assist System Sales and Revenue in Global (2018-2023)
7.13.5 Audiowell Electronics Key News & Latest Developments
7.14 Longhorn Auto
7.14.1 Longhorn Auto Company Summary
7.14.2 Longhorn Auto Business Overview
7.14.3 Longhorn Auto Automobile Merging Assist System Major Product Offerings
7.14.4 Longhorn Auto Automobile Merging Assist System Sales and Revenue in Global (2018-2023)
7.14.5 Longhorn Auto Key News & Latest Developments
7.15 Zhengzhou Tiamaes Technology
7.15.1 Zhengzhou Tiamaes Technology Company Summary
7.15.2 Zhengzhou Tiamaes Technology Business Overview
7.15.3 Zhengzhou Tiamaes Technology Automobile Merging Assist System Major Product Offerings
7.15.4 Zhengzhou Tiamaes Technology Automobile Merging Assist System Sales and Revenue in Global (2018-2023)
7.15.5 Zhengzhou Tiamaes Technology Key News & Latest Developments
8 Global Automobile Merging Assist System Production Capacity, Analysis
8.1 Global Automobile Merging Assist System Production Capacity, 2018-2029
8.2 Automobile Merging Assist System Production Capacity of Key Manufacturers in Global Market
8.3 Global Automobile Merging Assist System Production by Region
9 Key Market Trends, Opportunity, Drivers and Restraints
9.1 Market Opportunities & Trends
9.2 Market Drivers
9.3 Market Restraints
10 Automobile Merging Assist System Supply Chain Analysis
10.1 Automobile Merging Assist System Industry Value Chain
10.2 Automobile Merging Assist System Upstream Market
10.3 Automobile Merging Assist System Downstream and Clients
10.4 Marketing Channels Analysis
10.4.1 Marketing Channels
10.4.2 Automobile Merging Assist System Distributors and Sales Agents in Global
11 Conclusion
12 Appendix
12.1 Note
12.2 Examples of Clients
12.3 Disclaimer