What's the difference between servo motor and stepper motor?

Today we will discuss the difference between servo motor and stepper motor. 

1.Cost

The cost for a servo motor and servo motor system is higher than that of a stepper motor system with equal power rating.This feature would have to go to stepper motors.Steppers are generally cheaper than servo motors that have the same power rating.

2.Versatility

Servo motors are very versatile in their use for automation and CNC applications.Stepper motors are also very versatile in their use for automation and CNC applications Because of their simplicity stepper motors may be found on anything from printers to clocks.

3.Reliability

This is a toss up because it depends on the environment and how well the motor is protected.The stepper takes this category only because it does not require an encoder which may fail.

4.Flexibility in motor resolution

Since the encoder on a servo motor determines the motor resolution servos have a wide range of resolutions available. Stepper motors usually have 1.8 or 0.9 degree resolution.However thanks to micro-stepping steppers can obtain higher resolutions.This is up to the driver and not the motor.

5.Power

Range Because servo motors are available in DC and AC servo motors have a very wide power availability range. The power availability range for stepper motors is not that of servo motors.

In short I want to conclude that servo motor works with a encoder which makes it too much expensive but gives accuracy.So, there has been increasing popularity in closed loop stepper motors in recent years.