Neural Ideas Inc. is developing modular robots for uses in domestic, industrial, and governmental markets. Modular robots are comprised of individual parts, or modules. When these modules combine together, they are able to form any physical shape allowing for great diversity in application. They can become a complex humanoid form to perform household chores, heavy industrial tasks, and serve in military as combat support. The value of artificial intelligence gives the robot the ability to converse on a high level, allowing a layman to instruct it in its tasks.
The robotics market is expanding exponentially. According to a report by Markets and Markets, the service and personal robotics market is estimated to grow to $23.90B by 2022. The target market is professional men and women, those with children, corporations, the public sector, and the military. However, the uses for modular robotics utilizing neural networks are potentially unlimited.
Current competitors include the Honda Motors, iRobot, AB Electrolux, Sony, Fujitsu, Toyota, GeckkoSystems, Yujin Robot, ABB and Fanuc. These competitors are large corporations which have their own specialties. For example, iRobot and Electrolux focus towards domestic robotics which are limited to single functions such as vacuuming and moping. ABB and Fanuc both produce industrial robots, which, as mentioned before, require special programmers. Neural Ideas Inc. intends to use the adaptive nature of our modular robots to add functionality and increase user friendliness.
Neural Ideas Inc. intends to sell our robots to private customers, corporations and the government on a per module basis. Each module would retail at approximately $1, allowing customers to choose the size and complexity of the robot that fits their budget. This allows for the high cost of new technology to be quickly accepted into the mainstream markets. Within the first year after the product is launched, we forecast the total sales/leases to exceed 10 million modules, and 100 million in the second year.
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