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Electric Scooter Market to Reach $408.1 Billion by 2031 – Driven by Growing Localization of Electric Scooter Production in Emerging Economies and Increasing Consumer Preference for Electric Two-Wheelers – Exclusive Report by Meticulous Research®

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REDDING, Calif., Oct. 1, 2024 /PRNewswire/ — According to a new market research report titled, ‘Electric Scooter Market by Vehicle Type (Electric Motorcycles, E-Kick scooters & Bikes, Electric Mopeds), Power Output (Less Than 3.6kW, 3.6kW to 7.2kW), Battery Technology, Motor Type, Charging Type, End-user, and Geography—Global Forecast to 2031.

The electric scooter market is projected to reach $408.1 billion by 2031, at a CAGR of 21.6% from 2024 to 2031. By volume, this market is expected to reach 298.5 million units by 2031 at a CAGR of 18.1% during the forecast period from 2024 to 2031.

Download FREE PDF Brochure Of Electric Scooter Market – https://www.meticulousresearch.com/download-sample-report/cp_id=5191

The growth of the electric scooter market is driven by the growing localization of electric scooter production in emerging economies, increasing consumer preference for electric two-wheelers over internal combustion engine (ICE) models, and the rising shift in developed economies toward electric-powered two-wheelers. However, increasing reliability concerns among consumers, stemming from a rise in accidents involving electric two-wheelers and insufficient investment by traditional two-wheeler manufacturers in electric scooter development, restrain the growth of this market.

The rise in government initiatives to mitigate traffic congestion and pollution is expected to generate market growth opportunities. On the other hand, a lack of charging infrastructure poses a major challenge for the market’s growth.

INCREASING LOCALIZATION OF ELECTRIC SCOOTER MANUFACTURING IN EMERGING ECONOMIES

The increasing traffic congestion and long commutes are driving commuters to seek more convenient, time-efficient, and cost-effective transportation options. Micro-mobility solutions, which are ideal for short distances and specific speed ranges, include bicycles, skateboards, e-bikes, scooters, skates, and small electric vehicles powered by rechargeable batteries. As micro-mobility gains traction, the industry has introduced vehicle-sharing alternatives. The scooter-sharing system, launched in 2018, allows users to access electric scooters for short-term use without the need for ownership. These dockless scooters, which do not have designated parking spots, can be located via an e-scooter application.

These scooters, which are now available in more than 100 cities worldwide, have been flooding streets since the introduction in recent years of sharing schemes similar to the cycle hire projects. There are, for example, more than 15,000 scooters available for hire on the streets of Paris. The vehicles are also growing in popularity due to their low environmental impact compared with other modes of transport. By 2023, electric two-wheelers will make up 8% of all two-wheelers on the road. Currently, this number stands at 2.5%. The monthly installs of e-scooter sharing apps like Bird and Lime increased by 580% during 2018-2019. This number will continue to increase as e-scooter-sharing services continue to gain popularity. The e-scooter revenue is anticipated to rise by 21% By 2023, as major developments and surges are expected in North America, Europe, and Latin America. Europe was quick to grab the e-scooter trend.

Electric Scooter Market Analysis: Key Findings

By Vehicle Type: In terms of value, in 2024, the e-kick Scooter & bikes segment is expected to account for the largest share of 47.0% of the electric scooter market. However, the electric motorcycles segment is expected to register the highest CAGR during the forecast period from 2024 to 2031.By Power Output: In terms of value, in 2024, the less than 3.6 kW segment is expected to account for the largest share of 63.3% of the electric scooter market. However, the 3.6 kW to 7.2 kW segment is anticipated to register the highest CAGR of 30.4% during the forecast period from 2024 to 2031.By Battery Technology: In terms of value, in 2024, the lithium-ion battery segment is expected to account for the largest share of the electric scooter market. However, the lithium-ion polymer segment is estimated to register the highest CAGR during the forecast period from 2024 to 2031.By Motor Type: In terms of value, in 2024, the hub motors segment is expected to account for the larger share of the electric scooter market. However, the hub motors segment is projected to register a higher CAGR during the forecast period from 2024 to 2031.By Charging Type: In terms of value, in 2024, the connector charging segment is expected to account for the larger share of the electric scooter market. However, the wireless charging segment is poised to register a higher CAGR of 41.2% during the forecast period from 2024 to 2031.By End User: In terms of value, in 2024, the business organizations segment is expected to account for the largest share of 41.0% of the electric scooter market and register the highest CAGR during the forecast period from 2024 to 2031.

Explore the Key Market Segments Driving Growth (Download Free Sample) – https://www.meticulousresearch.com/download-sample-report/cp_id=5191

Geographic Analysis:

By geography, the electric scooter market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In terms of value, in 2024, Asia-Pacific is expected to account for the largest share of 81.5% of the market.

Asia-Pacific’s dominant position in the electric scooter market is attributed to several factors, including rising incomes in developing countries, rising fuel prices, traffic congestion, and pollution. These factors are fueling the demand for cost-effective and eco-friendly transportation options, such as electric scooters. Governments across various countries in the region are implementing initiatives to encourage the adoption of electric vehicles, while industry players are investing in charging infrastructure and introducing e-scooters to cater to the increasing demand. Moreover, rising consumer interest in electric vehicles, driven by tax incentives, further supports market growth in this region.

Asia-Pacific is a leading market for electric scooters, driven by technological advancements, rising demand for electric vehicles, government initiatives aimed at reducing carbon emissions, and the development of charging infrastructure. Companies are innovating with new product offerings and expanding charging networks. Moreover, increasing consumer interest in EVs, fueled by tax incentives, is further stimulating market growth in this region. Developing economies have established targets to boost EV sales, prompting manufacturers, vendors, and other stakeholders to refine their marketing strategies and enhance sales efforts.

North America: The Fastest-growing Regional Market

The electric scooter market in North America is projected to register the highest CAGR of 50.1 % during the forecast period. In terms of value, in 2024, the U.S. is expected to account for the major share of 53.0% of the electric scooter market in North America. The growth of this regional market can be attributed to several factors, including accelerated urbanization, increased environmental awareness, and the growing demand for adaptable and sustainable transportation solutions. Urban centers across the U.S. and Canada have adopted electric scooters as an effective remedy for traffic congestion and last-mile transportation challenges. In the U.S., the automotive sector is focused on innovation, technological advancement, and the development of sophisticated electric vehicles. The rising imperative to cut carbon emissions, the demand for advanced and rapid-charging infrastructure, and the growing shift of mass-premium consumers from gasoline and internal-combustion-engine vehicles to electric vehicles are anticipated to drive the growth of the electric vehicle market.

Italy Continues to Dominate the Electric Scooter Market in Europe

In 2024, Italy is expected to account for the largest share of the electric scooter market in Europe. Leading players in Italy are increasingly investing in electric scooter development. For instance, in March 2020, Helbiz introduced the country’s inaugural fleet of electric scooters in Rome. This initiative added 1,000 e-scooters to Helbiz’s existing fleet of 2,500 e-bikes, enhancing sustainable transportation options. Additionally, to support this shift, ElectReon Wireless, an Israeli company, has developed technology enabling electric vehicle batteries to recharge while in motion via a specialized electrified road. The company is implementing this technology by embedding copper coils under asphalt to facilitate wireless energy transfer.

Furthermore, the Italian government is actively promoting the adoption of electric scooters. In July 2020, Italy announced a goal to have 1 million electric vehicles on the roads by 2022, with a transition cost estimated at approximately EUR 10 billion. To support this shift, government incentives are offered at around USD 10,000 per vehicle. In addition, Italy has committed to banning diesel vehicles by 2024. Despite the challenges posed by the COVID-19 pandemic, 32,000 fully electric cars were sold in Italy in 2020, with the Renault Zoe leading in registrations at 5,470 units, driven by various incentive programs and subsidies. These measures have significantly boosted the electric vehicle market in Italy.

Electric Scooter Market: Competition Analysis

This report offers a competitive analysis based on an extensive assessment of the leading players’ product portfolios, geographic presence, and key growth strategies adopted over the past three to four years. Major companies in the electric scooter market have implemented various strategies to expand their product offerings and global footprints and augment their market shares. The key strategies followed by most companies in the electric scooter market were product launches, expansions, mergers & acquisitions, agreements, collaborations, and partnerships. The key players operating in the electric scooter market include Fuji-Ta Bicycle Co., Ltd. (China), Trek Bicycle Corporation (U.S.), Yamaha Motor Co., Ltd. (Japan), Yadea Group Holdings Ltd. (China), Riese & Müller GmbH (Germany), Leon Cycles (Germany), Niu Technologies (China), Walberg Urban Electrics GmbH (Germany), myStromer AG (Switzerland), Magnum Bikes (U.S.), Pedego Electric Bikes (U.S.), Aventon Bikes (U.S.), Govecs AG (Germany), Zhejiang Minimotors Bike Co Ltd (China), Zero Motorcycle Inc. (U.S.), Gogoro Inc. (Taiwan), Ather Energy Pvt. Ltd (India), Energica Motor Company (Italy), Revolt Motors (India), Hero MotoCorp Ltd. (India), and Rad Power Bikes Inc. (U.S.).

Electric Scooter Industry Overview: Latest Developments from Key Industry Players

In April 2024, Greaves Electric Mobility Private Limited (India) launched the first high-performance family electric scooter, the Ampere Nexus. Ampere Nexus is entirely designed, developed, and manufactured in India and features multiple first-ever innovations and class-leading specifications.In August 2023, Gogoro Inc. (Taiwan) partnered with Swiggy (India) to provide access to Gogoro Smartscooter. Battery swapping is essential in successfully transforming India’s urban fleets to electric.In January 2023, BUGATTI Automobiles S.A.S. (France) launched a premium version of its revolutionary electric scooter design in a mobile transformation. The Bugatti premium electric scooter has been updated with more modern conveniences and achieves an even greater experience for the average operator than previously designed.In May 2022, TVS Motor Company (India) launched the TVS iQube Electric scooter in three avatars that come loaded with a best-in-class on-road range of 140 km on a single charge. They offer a host of intelligent connected features such as a 7″ TFT touchscreen and clean UI, infinity theme personalization, voice assist and TVS iQube Alexa skillset, intuitive music player control, OTA updates, fast charging with a plug-and-play carry-along charger, vehicle health, and safety notifications, multiple Bluetooth and Cloud Connectivity options, and 32-liter storage space.In February 2021, Riese & Müller GmbH (Germany) extended their administrative and production building in Mühltal near Darmstadt, with a new building for a number of different departments, from new production units to administrative offices.In February 2021, Aventon Bikes (U.S.) announced two modifications in their e-bikes: throttle function and modifications to pedal assist levels 1 and 2 for smoother acceleration.In February 2021, Rad Power Bikes Inc. (U.S.) announced an investment of USD 150 million from Morgan Stanley Distribution, Inc. (U.S.) and Fidelity Management & Research Company (U.S.) to extend its market leadership, drive innovation, and scale retail and service offerings.In June 2021, Gogoro Inc. (Taiwan) signed a partnership with Foxconn, the world’s largest electronics manufacturer, to accelerate the expansion of Gogoro’s Battery Swapping System and Smartscooter. This partnership will accelerate Gogoro’s global expansion by utilizing Foxconn’s world-leading manufacturing capabilities to introduce new levels of manufacturing capabilities and scale for Gogoro battery swapping technologies and Smartscooter.In April 2021, Hero MotoCorp Ltd. (India) launched the new Hero Electric Nyx, which has a range of 100 km/charge, is high in style, and has low maintenance costs.

IMMEDIATE DELIVERY AVAILABLE | BUY THIS RESEARCH REPORT (Insights, Charts, Tables, Figures and More) – https://www.meticulousresearch.com/Checkout/29752709

Scope of the Report:

Electric Scooter Market Assessment—by Vehicle Type

E-Kick Scooter & BikesElectric MotorcyclesElectric Mopeds

Electric Scooter Market Assessment—by Power Output

Less Than 3.6 kW3.6 Kw to 7.2 kW20 Kw to 100 kW

Electric Scooter Market Assessment—by Battery Technology

Less Than 3.6 kW3.6 Kw to 7.2 kW20 Kw to 100 kW

Electric Scooter Market Assessment—by Motor Type

Hub MotorsGearless Hub MotorsGeared Hub MotorsMid-Drive Motors

Electric Scooter Market Assessment—by Charging Type

Connector ChargingWireless Charging

Electric Scooter Market Assessment—by End User

Business OrganizationsMicromobility Service ProvidersIndividualsAcademic Institutes/UniversitiesGovernment InstitutionsOther End Users

Electric Scooter Market Assessment—by Geography

Asia-PacificChinaIndiaThailandJapanSouth KoreaSingaporeRest of Asia-PacificEuropeGermanyFranceNetherlandsItalySpainU.K.SwitzerlandSwedenNorwayDenmarkRest of EuropeNorth AmericaU.S.CanadaLatin AmericaMiddle East & Africa

Browse More Related Reports –

Electric scooter market to be worth $408.1 billion by 2031, growing at a 21.6% CAGR from 2024–2031 – https://www.meticulousresearch.com/product/electric-scooter-market-5191

Electric Car Market to hit $5,634.6 Billion by 2031 with a 29.2% CAGR. Discover key trends in propulsion, power output, and global end-use sectors – https://www.meticulousresearch.com/product/electric-car-market-5187

Electric Vehicle Battery Materials Market is projected to reach $156 billion by 2031, at a CAGR of 30.7% from 2024 to 2031 – https://www.meticulousresearch.com/product/electric-vehicle-battery-materials-market-5757

Explore Electric Commercial Vehicle Market’s growth to $920.9 billion by 2031, with a CAGR of 25.4% from 2024–2031 – https://www.meticulousresearch.com/product/electric-commercial-vehicle-market-5766

Electric Motors Market is projected to reach $254.1Bn by 2031, with a 7.1% CAGR from 2024 to 2031 – https://www.meticulousresearch.com/product/electric-motors-market-5815

EV Battery Recycling Market to reach $10.1 billion by 2031 at a CAGR of 40.9%. Discover trends in battery recycling for commercial and passenger vehicles – https://www.meticulousresearch.com/product/ev-battery-recycling-market-5483

Electric Scooter Market Report Summary –

Particular

Details

Number of Pages

262

Format

PDF

Forecast Period

2024–2031

Base Year

2023

CAGR (Value)

21.6 %

Estimated Market Size (Value)

$408.1 billion by 2031

Segments Covered

By Vehicle Type

E-Kick Scooter & BikesElectric MotorcyclesElectric Mopeds

By Power Output

Less Than 3.6 kW3.6 Kw to 7.2 kW20 Kw to 100 kW

By Battery Technology

Lithium-Ion BatterySealed Lead-Acid BatteryLithium-Ion Polymer Battery

By Motor Type

Hub MotorsGearless Hub MotorsGeared Hub MotorsMid-Drive Motors

By Charging Type

Connector ChargingWireless Charging

By End User

Business OrganizationsMicromobility Service ProvidersIndividualsAcademic Institutes/UniversitiesGovernment InstitutionsOther End Users

By Geography

Asia-PacificChinaIndiaThailandJapanSouth KoreaSingaporeRest of Asia-PacificEuropeGermanyFranceNetherlandsItalySpainU.K.SwitzerlandSwedenNorwayDenmarkRest of EuropeNorth AmericaU.S.CanadaLatin AmericaMiddle East & Africa

Countries Covered

North America (U.S., Canada), Europe (Germany, France, Netherlands, Italy, Spain, U.K., Switzerland, Sweden, Norway, Denmark, Rest of Europe), Asia-Pacific (China, India, Thailand, Japan, South Korea, Singapore, Rest of Asia-Pacific), Latin America, and Middle East & Africa

Key Companies

Fuji-Ta Bicycle Co., Ltd. (China), Trek Bicycle Corporation (U.S.), Yamaha Motor Co., Ltd. (Japan), Yadea Group Holdings Ltd. (China), Riese & Müller GmbH (Germany), Leon Cycles (Germany), Niu Technologies (China), Walberg Urban Electrics GmbH (Germany), myStromer AG (Switzerland), Magnum Bikes (U.S.), Pedego Electric Bikes (U.S.), Aventon Bikes (U.S.), Govecs AG (Germany), Zhejiang Minimotors Bike Co Ltd (China), Zero Motorcycle Inc. (U.S.), Gogoro Inc. (Taiwan), Ather Energy Pvt. Ltd (India), Energica Motor Company (Italy), Revolt Motors (India), Hero MotoCorp Ltd. (India), and Rad Power Bikes Inc. (U.S.)

 Contact:
Mr. Khushal Bombe
Meticulous Market Research Pvt.Ltd.
1267 Willis St, Ste 200 Redding,
California, 96001, U.S.
USA: +1-646-781-8004
Europe: +44-203-868-8738
APAC: +91 744-7780008
Email- sales@meticulousresearch.com 
Visit Our Website: https://www.meticulousresearch.com/ 
Connect with us on LinkedIn- https://www.linkedin.com/company/meticulous-research 
Content Source: https://www.meticulousresearch.com/pressrelease/410/electric-scooter-market 

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Technology

NOMO SMART CARE REVOLUTIONIZES IN-HOME CARE WITH AI-POWERED SAFETY TECHNOLOGY

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Providing Peace of Mind for Caregivers and Safety for Loved Ones

LAS VEGAS, Jan. 2, 2025 /PRNewswire/ — Nomo Smart Care (Nomo), an in-home, no camera safety technology, is reshaping caregiving by solving a key challenge: how to keep loved ones safe in their home without sacrificing their privacy or independence. Unlike traditional systems that rely on invasive cameras, Nomo’s intelligent sensors monitor activity, detect unusual patterns and send alerts directly to a caregiver’s phone via the intuitive and user-friendly Nomo app. From fall detection to monitoring daily routines, Nomo provides real-time alerts and information so families can act quickly when it matters most. Check out this revolutionary technology powered by artificial intelligence at Pepcom’s Digital Experience @ CES, January 6 in Las Vegas.

“It’s not just about safety—it’s about preserving dignity and creating peace of mind for everyone involved.”

“Caregivers are often stretched between their responsibilities at home and work, all while worrying about the safety of their loved ones,” said David Baer, president, Nomo Smart Care. “Nomo Smart Care is here to ease that burden by providing the tools families need to feel confident that their loved ones are safe, cared for, and living with independence. It’s not just about safety—it’s about preserving dignity and creating peace of mind for everyone involved.”

How Nomo Smart Care Works
The Nomo Smart Care system includes a hub, satellites, and tags that work together seamlessly to monitor daily activity in the home. It tracks routines like ensuring the medicine cabinet or refrigerator were opened, detects falls, and flags irregularities in daily routines. This information is delivered directly to caregivers in real time via the Nomo app, empowering them to stay connected no matter where they are.

Key Features & Benefits:

Fall Detection: Detects potential falls and sends immediate alerts so caregivers can quickly respond.Routine Monitoring: Tracks essential daily activities, such as whether the medicine cabinet or refrigerator door were opened on time and notifies caregivers if something is amiss.Privacy-First Technology: Uses advanced motion sensing, not cameras, to protect loved ones’ privacy while keeping them safe.Proactive Care: Tracks changes in routines or behaviors, allowing caregivers to address potential issues before they become serious.Real-Time Alerts: Instant notifications via the Nomo app keep caregivers informed and prepared to act when needed.Emergency Services. Connects to local emergency services to dispatch help when needed

New at CES, Nomo Smart Care features elevated health monitoring solutions and motion-sensing enhancements that work with the Nomo system such as connected blood pressure cuffs, connected thermometers, a GPS tracking device, and a connected medical alert bracelet. In addition, through the new Nomo Partner Portal, medical experts can receive certain health related data collected by the Nomo system.

About Nomo Smart Care
Nomo Smart Care is the first fully digital, privacy-focused caregiving solution designed to help families protect their loved ones while maintaining their independence. By combining intelligent monitoring with a user-friendly app, Nomo empowers caregivers to support their loved ones from anywhere.

To learn more, visit www.NomoSmartCare.com.

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Ansys and Cognata Enable Robust ADAS/AV Sensor Testing on Microsoft Azure

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Ansys is collaborating with Cognata and Microsoft on a web-based platform enabling users to test and validate ADAS/AV automotive sensors in a virtual environment that mimics real-world conditions

/ Key Highlights

Ansys AVxcelerate Sensors™ simulation software will bolster the Automated Driving Perception Hub (ADPH) platform, managed by Cognata and running on Microsoft Azure, with high-fidelity radar and electromagnetic (EM) wave propagation simulation capabilitiesThe platform is powered by AMD EPYC™ central processing units (CPUs) and Radeon™ PRO graphics processing units (GPUs) for machine learning inference and visualization workloadADPH hosts a library of manufacturer-certified virtual sensor models, including thermal camera, radar, and LiDAR systems

PITTSBURGH, Jan. 2, 2025 /PRNewswire/ — Ansys (NASDAQ: ANSS) today announced AVxcelerate Sensors is accessible through Cognata’s Automated Driving Perception Hub. The ADPH platform runs on Microsoft Azure and 4th Generation AMD EPYC™ processors and Radeon™ PRO GPUs. ADPH gives original equipment manufacturers (OEMs) easy access to certified, web-based sensor models from manufacturers, enabling collaborative testing and validation of advanced driver assistance systems (ADAS) and autonomous vehicle (AV) functions using a high-fidelity simulation platform with virtual twin technology.

The ADPH allows OEMs and sensor manufacturers to test and validate certified sensors against diverse industry standards, including those put forth by the National Highway Traffic Safety Administration (NHTSA) and the New Car Assessment Program (NCAP). The platform currently includes Cognata sensor models for thermal cameras, LiDAR, RGB cameras with varying lens distortions, and leverages Deep Neural Network (DNN) technology that enables photorealistic images and simulations.

With the addition of Ansys AVxcelerate Sensors, users have access to physics-based radar models that reproduce EM wave propagation — accounting for material properties within high frequencies — to enhance signal strength and accuracy. The radar simulation provides raw data that can be used to test and improve the algorithms that process radar signal interference, like small changes in frequency caused by moving objects (doppler effect). When connected to a virtual model from a radar supplier, AVxcelerate Sensors produces a virtual twin of the sensor, enabling OEMs to evaluate its performance with enhanced predictive accuracy.

“We are excited to integrate Ansys’ radar simulation technology into the ADPH platform, bringing OEMs and tier-one suppliers an unmatched level of accuracy in sensor validation,” said Danny Atsmon, founder and CEO at Cognata. “Ansys’ ability to simulate complex EM wave interactions enhances our platform’s ability to deliver precise, real-world insights for radar-based ADAS and AV systems. This collaboration significantly advances the industry’s ability to test and refine sensor performance under diverse conditions.”

Cognata’s generative AI transfer technology, enabled by AMD Radeon PRO V710 GPUs, enhances the RGB camera simulation platform by delivering high-fidelity virtual sensors. It accurately captures and replicates the real-world behavior of sensors within the simulation.

“Ansys’ AVxcelerate Sensors platform includes real-time radar capabilities for accurate modeling of radar interactions in complex environments,” said Shane Emswiler, vice president of products at Ansys. “By offering the solution on Cognata’s ADPH platform, we are enabling customers to design for real-world operations to meet strict regulatory standards. As the industry works toward fully autonomous driving, safety validation is paramount, and the joint effort between Ansys and Cognata streamlines this typically long and complicated process.”

“We’re pleased to collaborate with Ansys and Cognata to enhance automated driving validation and simulation on Microsoft Azure,” said Nidhi Chappell, Vice President, Azure AI Infrastructure at Microsoft. “By integrating Ansys’ advanced radar simulation technology, we’re empowering OEMs and tier-one suppliers with high levels of accuracy in sensor validation. This collaboration underscores our commitment to providing leading-edge cloud infrastructure that supports the development and validation of ADAS and autonomous vehicle technologies.”

/ About Ansys

Our Mission: Powering Innovation that Drives Human Advancement™

When visionary companies need to know how their world-changing ideas will perform, they close the gap between design and reality with Ansys simulation. For more than 50 years, Ansys software has enabled innovators across industries to push boundaries by using the predictive power of simulation. From sustainable transportation to advanced semiconductors, from satellite systems to life-saving medical devices, the next great leaps in human advancement will be powered by Ansys.

Ansys and any and all ANSYS, Inc. brand, product, service and feature names, logos and slogans are registered trademarks or trademarks of ANSYS, Inc. or its subsidiaries in the United States or other countries. All other brand, product, service and feature names or trademarks are the property of their respective owners.

/ About Cognata
Cognata provides cutting-edge autonomous driving technologies with its end-to-end solutions for autonomous platforms. Other than an advanced engine creating a photorealistic simulation platform, Cognata offers the know-how of the market offerings, product integration, and a comprehensive V&V walkthrough, end-to-end. Working with some of the largest autonomous vehicle makers tier 1’s in the world, Cognata accelerates the autonomous and ADAS engineering capabilities, and brings the unique power and expertise of artificial intelligence and computer vision, taking off years of the development process.

ANSS–T

/ Contacts

Media

Mary Kate Joyce

724.820.4368

marykate.joyce@ansys.com 

Investors

Kelsey DeBriyn

724.820.3927

kelsey.debriyn@ansys.com 

 

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MicroAlgo Inc. Develops Hybrid Classical-Quantum Algorithms to Optimize Multi-Query Problems

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SHENZHEN, China, Jan. 2, 2025 /PRNewswire/ — MicroAlgo Inc. (the “Company” or “MicroAlgo”) (NASDAQ: MLGO), today announced the development of an innovative hybrid algorithm that combines the advantages of classical and quantum computing to optimize Multi-Query Optimization (MQO) problems.

Quantum computing is a technology that uses the principles of quantum mechanics to process information. Compared to traditional classical computers, quantum computers exhibit the potential to outperform classical computers in handling certain types of problems, such as search, optimization, and simulating quantum systems. However, the realization of quantum computers faces technical challenges, particularly in constructing quantum computers with a sufficient number of qubits and low error rates.

The Multi-Query Optimization (MQO) problem is a class of data-intensive problems that are NP-hard, and it has applications in many fields such as database query optimization, machine learning algorithms, and network routing. The core of the MQO problem lies in how to effectively handle multiple query requests to minimize the overall computational cost or time.

Although quantum computers theoretically have tremendous potential, current quantum computers are far from being fully practical. The limited number of qubits and high error rates restrict their ability to solve large-scale problems. To address these issues, MicroAlgo has proposed a hybrid algorithm that combines the stability of classical computers with the efficiency of quantum computers.

MicroAlgo’s hybrid algorithm design is based on the following key points:

Efficient Use of Qubits: Through carefully designed quantum circuits, the algorithm ensures efficient utilization of qubits, achieving a qubit efficiency close to 99%.

Reduction of Error Rates: By integrating error correction mechanisms from classical algorithms, the error rate during the quantum computation process is significantly reduced.

Scalability of the Algorithm: The algorithm design by MicroAlgo takes scalability into account, enabling it to adapt to problems of varying sizes.

Compatibility with Existing Technologies: MicroAlgo’s algorithm is compatible with existing gate-based quantum computers, meaning it can run on current hardware.

MicroAlgo’s hybrid algorithm first transforms the MQO problem into a form that can be handled by quantum computing. Quantum circuits are designed to perform the necessary quantum operations, including quantum state preparation, application of quantum gates, and quantum measurement. Then, during the quantum computation process, classical computers are used to assist the quantum computation, such as in qubit error correction and post-processing of the results. Through experiments and simulations, the algorithm’s performance is continuously optimized to ensure optimal performance with limited qubit resources.

MicroAlgo has conducted detailed experimental evaluations of the algorithm, including testing its performance on problems of various scales. The experimental results show that, despite the current limitations in qubit numbers, our algorithm is still able to handle smaller-scale problems and demonstrate a qubit efficiency close to 99%. Compared to quantum computers based on quantum annealing, MicroAlgo’s algorithm shows a significant improvement in efficiency.

In exploring the vast field of quantum computing, MicroAlgo’s hybrid algorithm represents an innovative solution that combines the stability of classical computing with the efficiency of quantum computing to address the challenges of Multi-Query Optimization (MQO). Through carefully designed quantum circuits and algorithmic optimizations, the algorithm not only improves qubit utilization efficiency but also significantly reduces error rates, enabling it to run on existing quantum hardware while maintaining scalability for large-scale problems. This achievement marks a significant step forward in the practical realization of quantum computing.

With the ongoing advancements in quantum technology, there is every reason to believe that MicroAlgo’s hybrid algorithm will play an even more important role in the future. As quantum computer hardware improves and the number of qubits increases, the algorithm will be able to tackle larger-scale problems, unlocking greater potential in fields such as chemistry, physics, and machine learning.

MicroAlgo’s hybrid algorithm is not only a major breakthrough in existing technology but also a powerful outlook on the future applications of quantum computing. We firmly believe that, through continuous research and innovation, quantum computing will gradually transition from theory to practice, becoming a powerful driver of technological progress and societal development. We look forward to a future where quantum computing will bring even more surprises and possibilities, opening a new era of computing.

About MicroAlgo Inc.

MicroAlgo Inc. (the “MicroAlgo”), a Cayman Islands exempted company, is dedicated to the development and application of bespoke central processing algorithms. MicroAlgo provides comprehensive solutions to customers by integrating central processing algorithms with software or hardware, or both, thereby helping them to increase the number of customers, improve end-user satisfaction, achieve direct cost savings, reduce power consumption, and achieve technical goals. The range of MicroAlgo’s services includes algorithm optimization, accelerating computing power without the need for hardware upgrades, lightweight data processing, and data intelligence services. MicroAlgo’s ability to efficiently deliver software and hardware optimization to customers through bespoke central processing algorithms serves as a driving force for MicroAlgo’s long-term development.

Forward-Looking Statements

This press release contains statements that may constitute “forward-looking statements.” Forward-looking statements are subject to numerous conditions, many of which are beyond the control of MicroAlgo, including those set forth in the Risk Factors section of MicroAlgo’s periodic reports on Forms 10-K and 8-K filed with the SEC. Copies are available on the SEC’s website, www.sec.gov. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “continue,” and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, MicroAlgo’s expectations with respect to future performance and anticipated financial impacts of the business transaction.

MicroAlgo undertakes no obligation to update these statements for revisions or changes after the date of this release, except as may be required by law.

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SOURCE Microalgo.INC

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