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GeckoSystems Plays a Key Role in Service Robotics Market

GeckoSystems Intl. announced today that an internationally renowned market research firm, Research and Markets, recently deemed GeckoSystems to be one of eight key market players in the service robotics industry. For fifteen years GeckoSystems has dedicated itself to development of Mobile Robot Solutions for Safety, Security and Service™ .

Research and Markets stated in their report, "Personal & Professional Service Robotics Market - Global Forecast & Assessment by Applications & Geography (2012 - 2017)," that:

"The key market players in service robotics industry are Honda Motors (Japan ), iRobot (U.S.), AB Electrolux (Sweden ), Sony (Japan ), Fujitsu (Japan ), Toyota (Japan ), GeckoSystems (U.S.), and Yujin Robot (South Korea )."

"We are pleased that the experienced market researchers at Research and Markets are sufficiently astute to accept that small service robot firms, such as GeckoSystems, can nonetheless develop advanced technologies and products as well as much larger, multi-billion dollar corporations such as Honda, iRobot, Sony, Toyota, etc.," reflected Martin Spencer , CEO, GeckoSystems.

In this Research and Markets report, they state:

"The global service robotics market in 2011 was worth $18.39 billion . This market is valued at $20.73 billion in 2012 and expected to reach $46.18 billion by 2017 at an estimated CAGR of 17.4% from 2012 to 2017. The market is driven by factors like aging population, value enhancement by robots, increasing grants and funds by governments, increasing venture capital investments in service robotics companies, enhancements in complementary technologies and integration of robotics with mobile technologies, other smart products, and appliances."

GeckoSystems projects the available market size in dollars for cost effective, utilitarian, multitasking eldercare personal robots in 2013 to be $74.0B , in 2014 to be $77B , in 2015 to be $80B , in 2016 to be $83.3B , and in 2017 to be $86.6B . With market penetrations of 0.03% in 2013, 0.06% in 2014, 0.22% in 2015, 0.53% in 2016, and 0.81% in 2017, we anticipate CareBot sales, from this consumer market segment, only, of $22.0M , $44.0M , $176M , $440.2M , and $704.3M , respectively. The company is presently securing funding for manufacturing, marketing and final beta testing of their CareBot.

"From our humble beginnings on a kitchen table and a two car garage over fifteen years ago, we have demonstrated publicly for companies such as JCPenney, Honeywell, Dell, Ketchum-Crescent, Ember Industries, Future Electronics, Chubb Insurance, Alexian Brothers , Stryker Corp., Allied Plastics, Samsung, Mitsubishi, Hewlett-Packard, to groups of children in schools and to elderly in their homes and nursing homes. CareBot prototypes have been publicly demonstrated at the Robotics Institute of America (RIA), RoboBusiness trade shows, and numerous local computer shows.

"We believe that critical mass has now been achieved in the service robotics industry. Modern computer and optic technology has brought cost reductions that enable us to introduce advanced Mobile Service Robots to the retail market for use in elder care, security, and of course our SafePath™ wheelchair which is in the final stages of pre-production engineering," observed Spencer. "In light of increased government support for robotic health care assistance in the EU, Japan , China , and other countries around the globe, we feel that our market scope estimates are extremely conservative."

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