May 29, 2024 - Tuya Smart (NYSE: TUYA, HKEX: 2391), a global cloud platform service provider, has announced a partnership with V2 Indonesia, Indonesia's premier solution provider, to jointly advance the deep integration of cutting-edge technologies, including AI, into the realm of smart homes.
Through this partnership, which was formalized at the 2024 Tuya Global Developer Summit, Tuya Smart and V2 Indonesia seek to enable customers to capitalize on the immense opportunities presented by the burgeoning Indonesian smart home market.
V2 Indonesia is an innovative company that combines automation technology and digital reality to transform various industries. The company provides services across all business sectors, from private enterprises to government agencies. Armed with a sophisticated software platform, V2 Indonesia is poised to bring about a technological revolution in every aspect of life, while building strong collaborations with future industry leaders.
Indonesia, with a population of 274 million and a youth demographic comprising up to 58%, represents one of the world's markets with the highest proportion of young people. This youthful population generally exhibits a high level of acceptance for innovative products, such as smart electronics, which has spurred the demand for smart homes and related offerings in the Indonesian market. According to recent reports, the Indonesian smart home market is experiencing rapid growth, with a forecasted compound annual growth rate of more than 20% in the next three years.
To capitalize on this burgeoning market, V2 Indonesia remains committed to exploring the realm of smart homes. The company is dedicated to enhancing its technical prowess to facilitate the creation of smart home products that cater to evolving consumer needs. Through its long-term exploration, V2 Indonesia has recognized that the integration of intelligent technologies like AI and IoT holds immense commercial potential for the smart home industry. Moreover, these cutting-edge technologies can streamline workflows, optimize resource allocation, and minimize operational costs. Consequently, V2 Indonesia has chosen to partner with Tuya Smart, the world's leading cloud developer platform, to establish an industry-leading smart home ecosystem. This collaboration aims to provide customers and consumers with a more convenient, intelligent, and personalized smart home living experience.
Leveraging Tuya’s Smart House & Real Estate SaaS, this collaboration has enabled V2 Indonesia to develop a comprehensive and streamlined smart solution. This solution significantly reduces the time and costs for customers, ensuring a swift and efficient product launch and promotion.
At the hardware level, V2 Indonesia has capitalized on Tuya's vast intelligent hardware ecosystem, further broadening its product range. Facing diverse customer needs, V2 Indonesia can seamlessly create customized home scenes through flexible combinations, delivering a more comfortable and personalized living experience.
At the software level, Tuya's OEM SaaS services have provided V2 Indonesia with a comprehensive set of connectivity tools. These include a comprehensive product control system, intelligent scene design capabilities, efficient batch delivery tools, an operations and maintenance knowledge base, online fault diagnosis, and streamlined work order services. These tools effectively expedite the implementation of V2 Indonesia's projects and accelerate customers' smart home upgrades.
Notably, with the incorporation of Tuya's GenAI technology, V2 Indonesia's virtual assistant, ViVi, can engage in meaningful dialogue and interactions with users. By simply providing voice commands, users can effortlessly operate smart products in their homes, significantly enhancing the convenience of daily living.
Rudi Hidayat, CEO of V2 Indonesia, commented, "As a pioneering solution provider in Indonesia, V2 Indonesia has consistently spearheaded the development of comprehensive home intelligence. Through our close partnership with Tuya, we have seamlessly integrated cutting-edge technology into real-world scenarios, introducing groundbreaking smart home solutions to the Indonesian market. Looking ahead, V2 Indonesia intends to deepen our collaboration with Tuya, leveraging AI technology to forge a new smart home ecosystem and jointly craft an even more enriching smart lifestyle for all."
Gloria Huang, Vice President of Operations at Tuya Smart, added, "V2 Indonesia boasts a robust market presence and a vast customer base in Indonesia. Our collaboration with V2 Indonesia presents an opportunity to introduce our innovative solutions and products to the Indonesian market, thereby unlocking new business prospects. Together, we will continue to delve into the needs of Indonesian consumers, refine our offerings, vigorously expand our intelligent business operations in the country, and seize upcoming market opportunities in unison."
The collaboration between Tuya and V2 Indonesia not only establishes a new benchmark for smart industry in the Indonesian smart home market, but also propels the rapid evolution of the industry, harnessing the combined technological prowess and market insights of both parties. Moving forward, Tuya remains committed to collaborating with V2 Indonesia to innovate, devise novel solutions and smart home products, and ultimately deliver a more intelligent home living experience to Indonesian consumers.
