Tuya Hosts North American IoT Industry Leaders to Kick off Event Series and Discuss Resilience and Innovation

SANTA CLARA, Calif., May 21, 2021 /PRNewswire/ -- Tuya Smart (NYSE: TUYA), a global leading IoT cloud platform, recently kicked off the "Global IoT Press Meeting" series with its inaugural event focusing on the North American market. The event brought together leaders from the North American IoT market to discuss trends in the region, challenges created by the COVID-19 pandemic and opportunities for growth.

With new variants of COVID-19emerging in different regions and countries, the pandemic continues to heavily disrupt life around the world. During the "Global IoT Press Meeting" North America session, representatives from Tuya Smart together with key players in the North American IoT market came together to discuss challenges set by the pandemic, how the IoT industry can support consumers during this time and opportunities for growth in the future. The press meeting was attended by guest of honor Jeff Immelt, Chairman of Tuya Smart US; Fritz Werder, General Manager of Tuya Smart North America; Andrew Howard, Tuya Smart's Head of Business Development for North America; and representatives from key players in the IoT space Monster, BAZZ, SATCO, Bluetooth SIG and ioXt.

With the theme "Connecting Every Thing and Every Person," the press meeting introduced Tuya's IoT cloud platform and go-to-market strategy, how Tuya's IoT solutions help innovators and developers, and reviewed trends in the IoT market. With global experience in nine major industry verticals, Tuya's robust platform has proven to be a strong partner for brands looking to innovate in the IoT field.

During the press visit representatives from Monster, BAZZ, SATCO, Bluetooth SIG and ioXt shared insights with attending media on key business opportunities ahead. Industry trends discussed in the meeting included voice control, data security and subscription models. Kevin Lee, SVP of Brands and Corporate Development at Monster, known for their Beats by Dr. Dre headphone and electronics series, shared insights on how IoT has transformed the music industry. Daniel Goulet, Executive Vice President of BAZZ Smart Home, spoke on the changes in modern urban living brought about by the COVID-19 pandemic and its influence on IoT.

In his comments to the media, Mr. Immelt affirmed the importance of constant innovation and the development of exponential growth technology, highlighting how Tuya is addressing this challenge. As the former CEO of General Electric and an IoT industry veteran of over a decade, Mr. Immelt spoke on long-term trends in IoT and technology. He remarked "IoT has the ability to connect every thing and every person. This offers a growth opportunity similar to that of the mobile internet. As developers create more smart devices and IoT services, they need a platform that enables them to develop efficiently and manage the complexities of the full development cycle."

Other representatives from Tuya shared company developments, highlighting the fact that using the Tuya IoT development platform and networking modules, developers can easily create branded smart apps in less than 10 minutes and bring products to market in under 15 days. With coverage of over 1,100 product categories, over 324,000 developers globally use Tuya'splatform and tools. Tuya Smart's IoT cloud platform reaches across many verticals including agriculture, tourism, education, medicine and retail.

This was the first event in a series of virtual press meetings, with others to be hosted soon focusing on other regions. Kicking off the series by focusing on North America signifies the strategic important of the region in the IoT space. Not only are North American tech companies at the forefront of global IoT innovation, but it is also one of the largest IoT markets. According to a recent report by Statista on IoT, by 2025 North America will have over 5.4 billion IoT connections alone, a near doubling in six years. This rapid growth can be in part attributed to the wide range of applications and industries that are seeing the benefit from increased connectivity of devices and IoT systems.

The "Global IoT Press Meeting" virtual series will further focus on key regions including Southeast Asia, East Asia, Europe, the Middle East, Latin America, and so on. Tuya's focus for 2021 is to galvanize the global IoT industry during a pandemic, leading the charge to support like-minded partners in various markets. The series will showcase Tuya's tailored IoT solutions for the unique needs of each regions and share insights from leading local brands and associations on IoT business strategies, partnerships and opportunities. Together Tuya and its partners will continue to explore the future of IoT and discover how smart systems and devices can make things easier, more intuitive and more delightful.

About Tuya Smart (Tuya Inc.)

Tuya Smart (NYSE: TUYA) is a global leading IoT cloud platform with a mission to build an IoT developer ecosystem and enable everything to be smart. Tuya is the largest IoT PaaS business in the global market of IoT PaaS in terms of the volume of smart devices powered in 2020, according to CIC. Tuya has pioneered a purpose-built IoT cloud platform that delivers a full suite of offerings, including Platform-as-a-Service, or PaaS, and Software-as-a-Service, or SaaS, to businesses and developers. Through its IoT cloud platform, Tuya has enabled developers to activate a vibrant IoT ecosystem of brands, OEMs, partners and end users to engage and communicate through a broad range of smart devices.

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