From May 17th to May 22nd, Tuya Smart (NYSE: TUYA, HKEX: 2391), a global cloud platform service provider, hosted the Tuya Innovation Roundtable Initiative in Europe. The event brought together over 10 media outlets from around the world to explore the booming European smart market. Attendees visited the renowned Italian smart home brand WIBY and top European smart lighting company BEGHELLI, getting hands-on experience with innovative advancements and business opportunities driven by smart technologies. This provided valuable insights into the transition from smart devices to fully integrated smart ecosystems, offering new perspectives for global developers seeking innovative growth.

Group photo

By guiding influential global media to explore the smart market firsthand, Tuya is amplifying the innovations of its partners and the entire industry. This raises awareness and encourages the adoption of smart products and applications, enhancing the influence of the global intelligence industry. Since first launched in 2023, Tuya has successfully hosted two previous Innovation Roundtable Initiative events in China and Southeast Asia, to widespread acclaim. This European tour has sparked another wave of smart innovation, significantly impacting the European smart industry and developers, and the dynamic growth of global smart technology overall.

Joining Forces with Tuya to Lead a New Era in the European Smart Market

According to Statista, Europe ranked second in the 2022 consumer Internet of Things (IoT) market, with an estimated market size of approximately $20 billion. From 2023 to 2030, the European consumer IoT market is expected to grow at a compound annual growth rate of 11.8%, reaching an anticipated market size of $49.1 billion by 2030. As smart product adoption rises, smart technology will permeate fragmented processes and scenarios, achieving comprehensive intelligence worldwide. This evolution marks a shift from single-product intelligence to a full-scenario intelligent experiences.

During the event, Archi Xiao, Tuya Smart's Head of Eurasian Marketing, shared her insights into the European smart industry and her predictions for future trends. She emphasized Europe's vibrant and promising smart market boasts high penetration rates and advanced market education levels. In recent years, smart technology has not only transformed traditional industries but has also expanded into emerging sectors, including energy storage and battery management.

Tuya is at the forefront of integrating and innovating with AI, cloud, and other advanced technologies. The company has developed a home energy management system with AI capabilities, enabling intelligent decision-making and execution. This system aids end-users in achieving energy savings effortlessly, reaping the tangible benefits of energy conservation, and supporting global customers in reaching their ESG goals.

As a renowned brand in the Italian smart home market, WIBY excels at retail integration, logistics distribution, and technical installation. The brand is dedicated to providing affordable, high-performance smart home solutions that seamlessly blend technological advancements with practical applications. Through integrated operations, WIBY has revolutionized smart home management, significantly enhancing the convenience, safety, and energy efficiency.

Media outlets learned about WIBY's smart products

At the event, WIBY showcased smart home tech innovations, presenting a range of highly attractive smart products such as smart lights and door locks. By interacting with smart speakers, WIBY created an immersive smart experience for the media, illustrating the real-world applications and benefits.

Sofia Ge, CEO of WIBY, stated, "We foresee that the intelligent industry will continue to develop steadily, relying on cutting-edge technologies to achieve comprehensive innovation from content creation to interactive experience. In this era of rapid smart technology development, the penetration rate of smart devices is increasing, with a shift from single-product intelligence to scene intelligence. The collaboration between Tuya and global enterprises like us has fostered an inclusive and symbiotic smart ecosystem, achieving cross-brand and cross-category device interoperability. This immersive and highly integrated intelligent scene is a key factor in helping WIBY win consumer favor in a competitive market."

Connecting the Global Supply Chain to Help Local Developers Thrive

In addition to providing developers with support for cutting-edge technologies such as AI, IoT, and cloud computing, Tuya's global presence and extensive smart hardware ecosystem have become crucial in integrating the global developer supply chain. This integration helps smart scenarios connect with both domestic and international smart hardware supply chains, while also offering high-quality overseas deployment scenarios for smart hardware.

One of the participants in the Tuya Innovation Roundtable Initiative, Beghelli, exemplifies a successful developer leveraging Tuya’s global ecosystem to connect the supply chain.

Founded in 1982, Beghelli Group focuses on emergency and energy-saving lighting, as well as providing electronic systems for household and industrial safety. With 40 years of dedicated development, the group has secured a leading position in the emergency lighting market in Italy and Europe, holding a 16.8% market share in Europe. In 2022, the group was listed among the 200 most sustainable companies by Italy's largest commercial newspaper, Il Sole 24 Ore, in collaboration with analysis company Statista.

Reporters experienced Beghelli's showroom

At the event, Beghelli showcased cutting-edge smart products such as smart air purifiers and cameras, and demonstrated how leveraging Tuya’s platform helps connect the smart hardware supply chain, enabling quicker expansion of their product categories. Luca Tartarini, Product Marketing Manager of Beghelli, remarked, "The smart solutions provided by Tuya have enabled us to quickly venture into smart home lighting products. Moreover, Tuya has connected us to the global hardware supply chain, aiding us in expanding our business and achieving smart upgrade goals more cost-effectively. Collaborating with Tuya not only enhances our market competitiveness but also injects new impetus into our enterprise's development."

As a global smart industry leader, Tuya recognizes the spatial intelligence trend. By accumulating smart solutions for all scenarios through the accumulation of smart scenarios in various industries, helping developers break out of the homogenization red ocean of smart products and easily enter the consumer market with the help of intelligent scenarios to build "insensitive intelligence".

In response to this, Holmes Chen, Vice President of Public Relations of Tuya Smart, stated, "Intelligence has entered a scenario-based stage from a single product, and we are witnessing a new era of technology and daily life integration. To help global developers seize the opportunity faster, we provide comprehensive and full-chain intelligent solutions. With an open and neutral smart ecosystem, developers can easily complete everything from scenario conception to intelligent implementation. We fully support their innovation journey and jointly promote the progress and widespread application of smart technology."

Moving forward, Tuya will continue to push the Tuya Innovation Roundtable Initiative to the global stage, creating a platform for developers worldwide to showcase innovative achievements and seize business opportunities. The breakthroughs of Tuya in new fields such as AI content generation, as well as its efforts to assist customers in going global, will further leverage the network effect of global intelligent leading enterprises. Together with global developers, Tuya aims to explore the potential of industry applications and business opportunities, jointly creating new business models for the era of intelligence.