Tuya Smart Hosts Online forum for European IoT business leaders

Tuya Smart (“Tuya” or or the “Company”) (NYSE: TUYA), a global IoT development platform, hosted a high-level forum for European business leaders to discuss trends of IoT. Titled “Global Smart Connectivity: Sharing, Openness, Opportunities”, Tuya brought together various industry experts from across the European region to discuss the unique advantages and challenges of IoT in the region. A key event to remember 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 set to overtake the United States, according to research firm IDC $ 200 billion 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 developing in the European IoT market.

Consumer preferences, hardware standards, and software standards can vary widely in more than 40 countries and regions around the world. Europe, with even more technical standards for IoT devices than for traditional electronic devices. For example, a networking function of a smart refrigerator must not only meet European telecommunications regulations, but also the various telecommunications requirements for each specific European country and sub-region it wishes to enter.

Tuya Smart’s An open and neutral IoT development platform enables businesses to meet country-specific consumer preferences across the region. For example, producers of IoT hardware may need to support various intelligent voice assistants to meet the needs of all European countries. While Alexa smart voice assistant is popular everywhere Europe, it 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 for traditional electronics or hardware companies to launch smart products for the European region. Tina Yu, Tuya Smart’s Managing Director for Eurasia and North America said: “We are seeing a strong demand for smartization through Europe. Traditional hardware companies from many industries are entering the IoT space for the first time. As an IoT development platform, we seek to support successful smartization to help launch products in the region and encourage the development of products that consumers seek.

While many European companies have local market knowledge and experience, IoT localization presents many technical challenges that require input from IoT partners to be understood. The Calex lighting brand, for example, has over 50 years of experience in the European decorative lighting market. On the implementation of a localization strategy in the IoT era, Marc van Hoof, Marketing Manager at Calex said at the event: “By partnering with Tuya, we are able not only to explore and enter new categories, but also to diversify our products within the ecosystem framework. clever. Cooperating with an open and neutral IoT development platform like Tuya has helped us promote localization. Tuya has enabled Calex to accomplish more than we ever imagined four years ago.

Tuya Smart’s The IoT development platform helps European companies to extend their goals to the whole European region. Hungary-based smart solutions 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 helped support the growth of EPS throughout the event. Europe, and achieve rapid deployment.

“Our aim is to not only have the majority of the Hungarian market, but to reach the Central European market in shops, 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 unique solution for launching products in any of the Europe more than 40 countries and regions. Localization is not only about familiarity with the market, but also establishing a relationship between the market and the company, and understanding the technical specifications and requirements of each unique market to achieve product success. By filling 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 was able to explore new products and services, such as remote access, and explore new opportunities such as data analytics and energy monitoring. Looking ahead, Hill said, “Although our partnership with Tuya is in its early stages, so far it has been great and we look forward to rapid development next year. “

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