Delegates discuss localization as key to market success
SANTA CLARA, Calif., Dec. 7, 2021 /PRNewswire/ — Tuya Smart (“Tuya” or the “Company”) (NYSE: TUYA), a global IoT development platform, has convened a high-level forum for business leaders European companies to discuss IoT trends. Titled “Global Smart Connectivity: Sharing, Openness, Opportunities”, Tuya brought together various industry experts from across the European region to discuss the unique benefits and challenges of IoT in the region. One of the main takeaways from the event was the importance of combining a strong IoT development partner with a clear localization strategy to gain a foothold in Europe.
The IoT market offers an avenue for growth during the pandemic and beyond. European IoT spending is set to overtake the United States, according to research firm IDC 200 billion dollars by the end of 2021, including hardware and software applications. However, due to the fragmented nature of the market, outside companies Europe or siled in a specific European country face many challenges that are growing in the European IoT market.
Consumer preferences, hardware standards, and software standards can vary widely in over 40 countries and regions around the world. Europe, with even more technical standards for IoT devices than for traditional electronics. For example, a networking feature of a smart refrigerator must not only comply with European telecommunications regulations, but also the various telecommunications requirements for each specific European country and sub-region it wishes to enter.
Tuya Smart open and neutral IoT development platform enables companies to meet country-specific consumer preferences across the region. For example, IoT hardware producers may need to support various intelligent voice assistants to meet the needs of all European countries. While smart voice assistant Alexa is popular everywhere Europeit has had limited success in the Russian market where consumers prefer Alice, the voice assistant developed by local search giant Yandex.
Fragmentation can also increase barriers preventing traditional electronics or hardware companies from launching smart products for the European region. Tina Yu, Tuya Smart Managing Director for Eurasia and North America said, “We are seeing strong demand for smartization in Europe. Traditional hardware companies across many industries are entering the IoT space for the first time. As an IoT development platform, we seek to support smartization success to help launch products in the region and encourage the development of the products consumers are looking for. »
While many European companies have local market knowledge and experience, IoT localization presents many technical challenges that require input from IoT partners to understand. The lighting brand Calex, for example, has experience in the European market for more than 50 years in decorative lighting. On implementing a localization strategy in the age of IoT, Marc van HoofMarketing Manager at Calex, said at the event, “By partnering with Tuya, we are able to not only explore and enter new categories, but also diversify our products as part of the ecosystem. cooperating with an open and neutral IoT development platform like Tuya has helped us promote localization. Tuya has enabled Calex to achieve much more than we ever thought four years ago.
Tuya Smart The IoT development platform helps European companies to extend their objectives to the whole European region. Hungarian smart solution provider EPS has partnered with Tuya’s open and neutral IoT development platform to adapt to complex local environments across Europe. Péter Zsák, senior consultant at EPS, explained at the event how the partnership has helped support EPS’ growth throughout Europeand achieve rapid deployment.
“Our goal is to have the majority not only of the Hungarian market, but to reach the Central European market in stores, in apartments and by teaching end users and installers about Tuya solutions,” Zsák said.
Tuya’s unique IoT development platform with its localized strategic support offers European companies a one-stop solution to launch products in any of Europe more than 40 countries and regions. Localization is not only about getting familiar with the market, but also about establishing a relationship between the market and the company, and understanding the technical specifications and requirements of each unique market to ensure the success of the product. By bridging technology gaps and providing an open, adaptable and interconnectable IoT ecosystem, Tuya helps businesses in the region not only meet market demand, but also focus on developing new IoT products.
UK Aurora, a lighting and LED technology company, explained how the open IoT development platform promotes localization. Product manager Chris Hill pointed out that by partnering with Tuya, UK Aurora has been able to explore new products and services, such as remote access, and explore new opportunities such as data analytics and energy monitoring. Looking to the future, Hill said, “Although our partnership with Tuya is in its infancy, so far it has been great and we look forward to rapid development over the next year.”
On Smart tuya
Smart tuya (NYSE: TUYA) is a global IoT development platform that develops interconnectivity standards to meet the smart needs of brands, OEMs, developers and retail chains across a wide range of smart devices and of industries. Based on the global public cloud, Tuya connects different smart scenarios and smart devices by providing hardware development tools, integrating global public cloud services, and offering an intelligent business development platform. Tuya provides comprehensive smart empowerment, from technology to marketing, to foster a neutral, open, and accessible developer ecosystem.