Sep 15 2009
GeckoSystems Intl. Corp. (PINKSHEETS: GCKO) announced today that due to increased inquiries from mainland China by prospective joint venture partners, that they are considering adding a second Chinese business developer to represent them in China. GeckoSystems is a dynamic leader in the emerging mobile robotics industry revolutionizing their development and usage with "Mobile Robot Solutions for Safety, Security and Service™."
"As all of us here at GeckoSystems are excited about this development, due to the nature of the upcoming discussions I feel it is in the best interest of all parties involved to withhold the name of the new Chinese company inquiring at this time. They are headquartered in Xujiahui, Shanghai's famous business area. Their probable interest is due to not only our flagship product, our proprietary automatic self-navigation software, GeckoNav™, but also the reality that we have a complete multitasking personal companion robot, the CareBot™, with verbal interaction and 'command and control' capabilities, GeckoChat™, and the ability to routinely follow a designated family member with GeckoTrak™.
GeckoSystems' increasing visibility in China and the continuing positive reaction to our innovative mobile robot solutions and products allows GeckoSystems the opportunity to become established as a significant player in China with the right partners to supply cost effective solutions for security, eldercare, etc. and to develop other products tailored for the Chinese marketplace and the rest of the world," stated R. Martin Spencer, President/CEO.
The Guangzhou Industrial Development President, Mr. Luo, stated, "We look forward to GeckoSystems' visit to demonstrate. Guangzhou, China is a portal to the Chinese robotic world and has vast resources. We can help GeckoSystems accelerate its product development and enhance its competitive advantage, cost-effectively, so that GeckoSystems can meet not only China requirement but also the world market demands," Mr. Luo added.
"SIASUN has always been devoted to the development of state of the art robotic technologies. We continually work to put our excellent science and technology into the real work force. I look forward to our joint mobile robot development work with GeckoSystems," stated Dr. Fang Xu, Director.
GeckoSystems has projected the Pacific Rim personal robot sales forecasts in the eldercare markets for the years 2010 to 2014. For over ten years the company has had numerous market size discussions with significant international firms in China, Japan, South Korea, Hong Kong, and Taiwan. The Delphi market research methodology indicates two disparate markets in China: One is the very large market segment (i.e. many millions of families) of new millionaires looking to make prestige purchases of new Buicks, etc. Last month GM sold over 38,000 Buicks in China. At an annual run rate of over $10B, these prestige purchasers are very profitable for GM and can be for GeckoSystems. The other significant Chinese market is for care of the 20,000,000 plus elderly living in dormitories due to their only child working in the industrialized cities. These two market segments alone indicate a Chinese marketplace of several billions of dollars in the next five to seven years.
In the last decade, the Japanese government has granted over $100M in aggregate R&D funding to their leading international manufacturers to develop personal robots suitable for eldercare, yet no viable solutions have been developed. Sources within the Japanese government project their domestic market to range from $26B in 2010 and to nearly $70B by 2025 for personal robots.
"Consequently, at minimum, we project the available Pacific Rim market size in dollars for cost effective, utilitarian, multi-tasking personal robots suitable for eldercare in 2010 to be $22.0B; in 2011 to be $23B; in 2012 to be $24B; in 2013 to be $25B; and in 2014 to be $26B. With market penetrations of 0.009% in 2010, 0.024% in 2011, 0.077% in 2012, 0.29% in 2013, and 0.61% in 2014, we expect international sales, from these consumer markets only, of $2.0M, $5.5M, $18.5M, $72.6M, and $158.6M, respectively," predicted Spencer.
SOURCE: GeckoSystems Intl. Corp.