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PUBLISHER: The Business Research Company | PRODUCT CODE: 1513222

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PUBLISHER: The Business Research Company | PRODUCT CODE: 1513222

Programming Language Global Market Report 2024

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A programming language is a formal system of instructions and rules used to communicate with computers and develop software applications, websites, and other computational systems. It enables developers to write code that directs computers to perform specific tasks, manipulate data, and execute algorithms. Each programming language has its own syntax, semantics, and rules for coding, and they differ in complexity, purpose, and application domain.

The primary languages in the programming language market include C, JavaScript, Python, Go, Ruby, and others. C is renowned for its efficiency, flexibility, and portability. These languages are utilized by various end users, including academics and corporations, through various mediums such as online platforms and offline resources.

The programming language market research report is one of a series of new reports from The Business Research Company that provides programming language market statistics, including the programming language industry global market size, regional shares, competitors with a programming language market share, detailed programming language market segments, market trends and opportunities, and any further data you may need to thrive in the programming language industry. This programming language market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The programming language market size has grown rapidly in recent years. It will grow from $163.63 billion in 2023 to $181.15 billion in 2024 at a compound annual growth rate (CAGR) of 10.7%. The growth can be attributed to technological advancements, the demand for specific applications, the emergence of new programming paradigms, innovations in hardware architecture, and the evolution of software development methodologies.

The programming language market size is expected to see rapid growth in the next few years. It will grow to $273.76 billion in 2028 at a compound annual growth rate (CAGR) of 10.9%. The anticipated growth in the forecast period can be credited to the proliferation of artificial intelligence, the expansion of Internet of Things (IoT) devices, the growth of cloud computing services, the demand for cybersecurity solutions, and the rise of blockchain technology. Key trends expected in the forecast period include increased adoption of Rust and Go programming languages, a surge in demand for low-code and no-code platforms, an emphasis on functional programming languages, the proliferation of language-agnostic development environments, and a focus on inclusivity and accessibility in language design.

The advancement of AI technologies is poised to drive the expansion of the programming language market in the coming years. AI technologies, which emulate human intelligence to perform tasks and adapt to new inputs or environments, are increasingly being adopted for their capacity to automate complex tasks, enhance efficiency, and derive valuable insights from vast datasets. Programming languages form the backbone for developing, deploying, and optimizing AI technologies, facilitating their integration across various applications and industries. For example, in January 2022, the Department of Digital, Cultural, Media and Sports reported that approximately 15% of all businesses in the UK have embraced at least one AI technology, totaling around 432,000 companies. Moreover, 2% are currently piloting AI, and 10% intend to adopt AI technologies in the future, representing 62,000 and 292,000 businesses, respectively. Consequently, the expanding reach of AI technologies is propelling the growth of the programming language market.

Leading companies in the programming languages market are concentrating on developing innovative languages, such as open-source programming languages, to cater to the evolving needs of developers and businesses. These efforts aim to foster collaboration within the developer community and drive advancements in software development practices. An open-source programming language is one whose source code is freely available for use, modification, and distribution by anyone. For instance, in February 2024, Apple Inc. introduced Pickle (Pkl), an open-source programming language. Pkl serves as an embeddable configuration language, streamlining tasks ranging from small to large, simple to complex, and ad-hoc to repetitive configurations. Its notable feature is its compatibility with popular config formats such as JavaScript object notation (JSON), extensible markup language (XML), and Ain't markup language (YAML), while prioritizing safety, scalability, and a seamless coding experience through robust validation, versatile scalability, and integration with leading IDEs.

In December 2021, Altair Engineering Inc. acquired World Programming Ltd for an undisclosed amount. This strategic acquisition enables customers to leverage the SAS language alongside modern languages such as Python and open-source technologies, enhancing data manipulation, analytics, and insights. World Programming Ltd, headquartered in the UK, specializes in creating and marketing software solutions for data distribution, business intelligence, and numerical analysis.

Major companies operating in the programming language market are Apple Inc., Google LLC, Microsoft Corporation, Meta Platforms Inc., Intel Corporation, International Business Machines Corporation, Oracle Corporation, SAP SE, NIIT Ltd., Mozilla Foundation, The Apache Software Foundation, Nokia Bell Labs, PHP Group, JetBrains, Linux Foudation, edX Inc., Udacity Inc., Aptech Ltd., Julia Computing, Erlang Solutions Ltd., D Language Foundation, Django Software Foundation, Zig Software Foundation, Haxe Foundation, Ruby Central Inc.

North America was the largest region in the programming language market in 2023. The regions covered in the programming language market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the programming language market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The programming language market includes revenues earned by entities by providing syntax and semantics, data manipulation, control flow, abstraction, error handling, library and framework support, concurrency and parallelism, interoperability, and debugging and profiling. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Programming Language Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on programming language market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

Reasons to Purchase

  • Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
  • Understand how the market has been affected by the COVID-19 and how it is responding as the impact of the virus abates.
  • Assess the Russia - Ukraine war's impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
  • Measure the impact of high global inflation on market growth.
  • Create regional and country strategies on the basis of local data and analysis.
  • Identify growth segments for investment.
  • Outperform competitors using forecast data and the drivers and trends shaping the market.
  • Understand customers based on the latest market shares.
  • Benchmark performance against key competitors.
  • Suitable for supporting your internal and external presentations with reliable high quality data and analysis
  • Report will be updated with the latest data and delivered to you within 3-5 working days of order along with an Excel data sheet for easy data extraction and analysis.
  • All data from the report will also be delivered in an excel dashboard format.

Where is the largest and fastest growing market for programming language? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The programming language market global report from the Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

  • The market characteristics section of the report defines and explains the market.
  • The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
  • The forecasts are made after considering the major factors currently impacting the market. These include:

The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.

The impact of higher inflation in many countries and the resulting spike in interest rates.

The continued but declining impact of COVID-19 on supply chains and consumption patterns.

  • Market segmentations break down the market into sub markets.
  • The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
  • The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
  • The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

Scope

  • Markets Covered:1) By Language: C Language; JavaScript; Python; Go; Ruby; Other Languages
  • 2) By Medium: Online; Offline
  • 3) By End User: Academic; Corporate
  • Companies Mentioned: Apple Inc.; Google LLC; Microsoft Corporation; Meta Platforms Inc.; Intel Corporation
  • Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
  • Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
  • Time series: Five years historic and ten years forecast.
  • Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
  • Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
  • Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
  • Delivery format: PDF, Word and Excel Data Dashboard.
Product Code: r18209

Table of Contents

1. Executive Summary

2. Programming Language Market Characteristics

3. Programming Language Market Trends And Strategies

4. Programming Language Market - Macro Economic Scenario

  • 4.1. Impact Of High Inflation On The Market
  • 4.2. Ukraine-Russia War Impact On The Market
  • 4.3. COVID-19 Impact On The Market

5. Global Programming Language Market Size and Growth

  • 5.1. Global Programming Language Market Drivers and Restraints
    • 5.1.1. Drivers Of The Market
    • 5.1.2. Restraints Of The Market
  • 5.2. Global Programming Language Historic Market Size and Growth, 2018 - 2023, Value ($ Billion)
  • 5.3. Global Programming Language Forecast Market Size and Growth, 2023 - 2028, 2033F, Value ($ Billion)

6. Programming Language Market Segmentation

  • 6.1. Global Programming Language Market, Segmentation By Language, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • C Language
  • JavaScript
  • Python
  • Go
  • Ruby
  • Other Languages
  • 6.2. Global Programming Language Market, Segmentation By Medium, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Online
  • Offline
  • 6.3. Global Programming Language Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Academic
  • Corporate

7. Programming Language Market Regional And Country Analysis

  • 7.1. Global Programming Language Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • 7.2. Global Programming Language Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

8. Asia-Pacific Programming Language Market

  • 8.1. Asia-Pacific Programming Language Market Overview
  • Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
  • 8.2. Asia-Pacific Programming Language Market, Segmentation By Language, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • 8.3. Asia-Pacific Programming Language Market, Segmentation By Medium, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • 8.4. Asia-Pacific Programming Language Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

9. China Programming Language Market

  • 9.1. China Programming Language Market Overview
  • 9.2. China Programming Language Market, Segmentation By Language, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
  • 9.3. China Programming Language Market, Segmentation By Medium, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
  • 9.4. China Programming Language Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion

10. India Programming Language Market

  • 10.1. India Programming Language Market, Segmentation By Language, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • 10.2. India Programming Language Market, Segmentation By Medium, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • 10.3. India Programming Language Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

11. Japan Programming Language Market

  • 11.1. Japan Programming Language Market Overview
  • 11.2. Japan Programming Language Market, Segmentation By Language, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • 11.3. Japan Programming Language Market, Segmentation By Medium, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • 11.4. Japan Programming Language Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

12. Australia Programming Language Market

  • 12.1. Australia Programming Language Market, Segmentation By Language, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • 12.2. Australia Programming Language Market, Segmentation By Medium, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • 12.3. Australia Programming Language Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

13. Indonesia Programming Language Market

  • 13.1. Indonesia Programming Language Market, Segmentation By Language, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • 13.2. Indonesia Programming Language Market, Segmentation By Medium, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • 13.3. Indonesia Programming Language Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

14. South Korea Programming Language Market

  • 14.1. South Korea Programming Language Market Overview
  • 14.2. South Korea Programming Language Market, Segmentation By Language, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • 14.3. South Korea Programming Language Market, Segmentation By Medium, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • 14.4. South Korea Programming Language Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

15. Western Europe Programming Language Market

  • 15.1. Western Europe Programming Language Market Overview
  • 15.2. Western Europe Programming Language Market, Segmentation By Language, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • 15.3. Western Europe Programming Language Market, Segmentation By Medium, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • 15.4. Western Europe Programming Language Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

16. UK Programming Language Market

  • 16.1. UK Programming Language Market, Segmentation By Language, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • 16.2. UK Programming Language Market, Segmentation By Medium, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • 16.3. UK Programming Language Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

17. Germany Programming Language Market

  • 17.1. Germany Programming Language Market, Segmentation By Language, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • 17.2. Germany Programming Language Market, Segmentation By Medium, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • 17.3. Germany Programming Language Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

18. France Programming Language Market

  • 18.1. France Programming Language Market, Segmentation By Language, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • 18.2. France Programming Language Market, Segmentation By Medium, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • 18.3. France Programming Language Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

19. Italy Programming Language Market

  • 19.1. Italy Programming Language Market, Segmentation By Language, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • 19.2. Italy Programming Language Market, Segmentation By Medium, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • 19.3. Italy Programming Language Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

20. Spain Programming Language Market

  • 20.1. Spain Programming Language Market, Segmentation By Language, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • 20.2. Spain Programming Language Market, Segmentation By Medium, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • 20.3. Spain Programming Language Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

21. Eastern Europe Programming Language Market

  • 21.1. Eastern Europe Programming Language Market Overview
  • 21.2. Eastern Europe Programming Language Market, Segmentation By Language, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • 21.3. Eastern Europe Programming Language Market, Segmentation By Medium, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • 21.4. Eastern Europe Programming Language Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

22. Russia Programming Language Market

  • 22.1. Russia Programming Language Market, Segmentation By Language, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • 22.2. Russia Programming Language Market, Segmentation By Medium, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • 22.3. Russia Programming Language Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

23. North America Programming Language Market

  • 23.1. North America Programming Language Market Overview
  • 23.2. North America Programming Language Market, Segmentation By Language, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • 23.3. North America Programming Language Market, Segmentation By Medium, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • 23.4. North America Programming Language Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

24. USA Programming Language Market

  • 24.1. USA Programming Language Market Overview
  • 24.2. USA Programming Language Market, Segmentation By Language, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • 24.3. USA Programming Language Market, Segmentation By Medium, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • 24.4. USA Programming Language Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

25. Canada Programming Language Market

  • 25.1. Canada Programming Language Market Overview
  • 25.2. Canada Programming Language Market, Segmentation By Language, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • 25.3. Canada Programming Language Market, Segmentation By Medium, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • 25.4. Canada Programming Language Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

26. South America Programming Language Market

  • 26.1. South America Programming Language Market Overview
  • 26.2. South America Programming Language Market, Segmentation By Language, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • 26.3. South America Programming Language Market, Segmentation By Medium, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • 26.4. South America Programming Language Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

27. Brazil Programming Language Market

  • 27.1. Brazil Programming Language Market, Segmentation By Language, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • 27.2. Brazil Programming Language Market, Segmentation By Medium, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • 27.3. Brazil Programming Language Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

28. Middle East Programming Language Market

  • 28.1. Middle East Programming Language Market Overview
  • 28.2. Middle East Programming Language Market, Segmentation By Language, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • 28.3. Middle East Programming Language Market, Segmentation By Medium, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • 28.4. Middle East Programming Language Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

29. Africa Programming Language Market

  • 29.1. Africa Programming Language Market Overview
  • 29.2. Africa Programming Language Market, Segmentation By Language, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • 29.3. Africa Programming Language Market, Segmentation By Medium, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • 29.4. Africa Programming Language Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

30. Programming Language Market Competitive Landscape And Company Profiles

  • 30.1. Programming Language Market Competitive Landscape
  • 30.2. Programming Language Market Company Profiles
    • 30.2.1. Apple Inc.
      • 30.2.1.1. Overview
      • 30.2.1.2. Products and Services
      • 30.2.1.3. Strategy
      • 30.2.1.4. Financial Performance
    • 30.2.2. Google LLC
      • 30.2.2.1. Overview
      • 30.2.2.2. Products and Services
      • 30.2.2.3. Strategy
      • 30.2.2.4. Financial Performance
    • 30.2.3. Microsoft Corporation
      • 30.2.3.1. Overview
      • 30.2.3.2. Products and Services
      • 30.2.3.3. Strategy
      • 30.2.3.4. Financial Performance
    • 30.2.4. Meta Platforms Inc.
      • 30.2.4.1. Overview
      • 30.2.4.2. Products and Services
      • 30.2.4.3. Strategy
      • 30.2.4.4. Financial Performance
    • 30.2.5. Intel Corporation
      • 30.2.5.1. Overview
      • 30.2.5.2. Products and Services
      • 30.2.5.3. Strategy
      • 30.2.5.4. Financial Performance

31. Programming Language Market Other Major And Innovative Companies

  • 31.1. International Business Machines Corporation
  • 31.2. Oracle Corporation
  • 31.3. SAP SE
  • 31.4. NIIT Ltd.
  • 31.5. Mozilla Foundation
  • 31.6. The Apache Software Foundation
  • 31.7. Nokia Bell Labs
  • 31.8. PHP Group
  • 31.9. JetBrains
  • 31.10. Linux Foundation
  • 31.11. edX Inc.
  • 31.12. Udacity Inc.
  • 31.13. Aptech Ltd.
  • 31.14. Julia Computing
  • 31.15. Erlang Solutions Ltd.

32. Global Programming Language Market Competitive Benchmarking

33. Global Programming Language Market Competitive Dashboard

34. Key Mergers And Acquisitions In The Programming Language Market

35. Programming Language Market Future Outlook and Potential Analysis

  • 35.1 Programming Language Market In 2028 - Countries Offering Most New Opportunities
  • 35.2 Programming Language Market In 2028 - Segments Offering Most New Opportunities
  • 35.3 Programming Language Market In 2028 - Growth Strategies
    • 35.3.1 Market Trend Based Strategies
    • 35.3.2 Competitor Strategies

36. Appendix

  • 36.1. Abbreviations
  • 36.2. Currencies
  • 36.3. Historic And Forecast Inflation Rates
  • 36.4. Research Inquiries
  • 36.5. The Business Research Company
  • 36.6. Copyright And Disclaimer
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