Investors: Press Release
GeckoSystems' Mobile Robots Conference to Discuss GA Tech's Home Care Robot Market Research
CONYERS, GA, November 3, 2009 (MARKETWIRE via COMTEX) -- GeckoSystems Intl. Corp. (PINKSHEETS: GCKO) -- announced today that they will be discussing the recent white paper, "More Than a Servant: Self-Reported Willingness of Younger and Older Adults to Having a Robot Perform Interactive and Critical Tasks in the Home" recently published in the "Proceedings of the Human Factors and Ergonomics Society 53rd Annual Meeting" at their conference this week, November 4-5. GeckoSystems is a dynamic leader in the emerging Mobile Service Robot industry revolutionizing their development and usage with "Mobile Robot Solutions for Safety, Security and Service™."
"While we certainly applaud the senior author's work, Dr. Neta Ezer of Georgia Tech, since it only addresses potential benefits to the care receiver, and not the care giver, we are surprised by the omission of this important attribute in their buyer behavior research. Further, those most in need of medication reminders --due to their short-term memory loss-- are highly unlikely to respond to any questionnaire since they quickly forget to respond to it. For these, and many other reasons revealed from our proprietary market research work, we continue to expect pent-up demand for cost effective, home care robots, such as our CareBot™. This new type of modern eldercare from a home care robot will postpone, if not eliminate, many elderly persons from having to endure the loneliness and loss of independence after they move to nursing homes, or other assisted living facilities. Their families can now better manage the difficult decisions regarding independence they allow their now dependent aged parent, while minimizing the concern and risk the adult care giving child is willing to assume to enable an acceptable level of independence for their now dependent parent.
"For the last several years, the US eldercare crisis is commonly portrayed as 'not happening' until the baby boomers reach the age of great reliance on their children and younger family members. The truth of the matter, since the US is the only country in the top ten of the world's industrialized nations without national healthcare, is that we really don't have solid statistics for our true 'bottom line' annual US eldercare costs. Many middle class baby boomers are presently suffering significant financial, time and emotional pressures attempting to care for their surviving WWII and Korean War era parents," observed Martin Spencer, President/CEO, GeckoSystems.
At the time of the company's founding, extensive primary market research was performed to determine the demographic profiles and the market segments appropriate to identify the probable early adopters of eldercare capable personal robots. Not surprisingly the scientific statistical analyses revealed that elderly over 65 living alone in metropolitan areas with broadband Internet available and sufficient household incomes to support were identified as those most likely to adopt initially. Using U.S. Census Bureau data from the 2000 census the pent-up demand, to the degree possible for metro areas only, is -to those not privy to this type of statistical analysis- nearly unbelievable. Due to the high cost of assisted living, nursing homes, etc. the payback for a CareBot™ is expected to be only six to eight months while keeping elderly care receivers independent, in their own long time homes, and living longer due to the comfort of more frequent attention from their loved ones.
"We project the available market size in dollars for cost effective, utilitarian, multitasking eldercare personal robots in 2010 to be $74.0B, in 2011 to be $77B, in 2012 to be $80B, in 2013 to be $83.3B, and in 2014 to be $86.6B. With market penetrations of 0.03% in 2010, 0.06% in 2011, 0.22% in 2012, 0.53% in 2013, and 0.81% in 2014, we will anticipate CareBot sales, from this consumer market segment, only, of $22.0M, $44.0M, $176M, $440.2M, and $704.3M, respectively. We expect these sales despite --and perhaps because of-- the present recession due to pent up demand for significant cost reduction in eldercare expenses," concluded Spencer.
The foregoing forecasts do not include sales in non-metropolitan areas; elderly couples over 65 (only elderly living alone are in these forecasts); those chronically ill --regardless of age-- or elderly living with their adult children.
Some believe that the technology is approved and paid for through options such as the Assistive Technology Act of 1998, which broadens the definition, use, and funding of technology at home. Other sources include long-term care insurance, Medicare and Medicaid, Medicaid waivers, and (potentially) stimulus funds from the American Recovery and Reinvestment Act of 2009, under the provisions for health information technology and electronic medical records for acute care.
Like an automobile, mobile robots are made from steel, aluminum, plastic, and electronics, but with ten to twenty times the amount of software running. The CareBot has an aluminum frame, plastic shroud, two independently driven wheels, multiple sensor systems, microprocessors and several onboard computers connected in a local area network (LAN). The microprocessors directly interact with the sensor systems and transmit data to the onboard computers. The onboard computers each run independent, highly specialized cooperative/subsumptive artificial intelligence (AI) software programs, GeckoSavants™, which interact to complete tasks in a timely, intelligent and common sense manner. GeckoNav™, GeckoChat™ and GeckoTrak™ are primary GeckoSavants. GeckoNav is responsible for maneuvering, avoiding dynamic and/or static obstacles, seeking waypoints and patrolling. GeckoChat is responsible for interaction with the care-receiver such as answering questions, assisting with daily routines and reminders, and responding to other verbal commands. GeckoTrak, which is mostly transparent to the user, enables the CareBot to maintain proximity to the care-receiver using sensor fusion. The CareBot is an internet appliance that is accessible for remote video/audio monitoring and telepresence.
About The Human Factors and Ergonomics Society:
The Human Factors and Ergonomics Society is the world's largest nonprofit individual-member, multidisciplinary scientific association for human factors/ergonomics professionals, with more than 4,300 members globally. HFES members include psychologists and other scientists, designers, and engineers, all of whom have a common interest in designing systems and equipment to be safe and effective for the people who operate and maintain them. Watch science news stories about other HF/E topics at the HFES Web site (http://www.aip.org/dbis/HFES/).
Download a copy of the paper, "More Than a Servant: Self-Reported Willingness of Younger and Older Adults to Having a Robot Perform Interactive and Critical Tasks in the Home" http://www.hfes.org/web/Newsroom/HFES09-Ezer-RobotsInHome.pdf, published in the Proceedings of the Human Factors and Ergonomics Society 53rd Annual Meeting (pp. 136). Contact senior author Dr. Neta Ezer (nezer@Futron.com, 281/483-2226) or HFES Communications Director Lois Smith (lois@hfes.org, 310/394-1811).