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Fortune China recently released “The 2023 Representative Chinese Companies in Overseas Market” list, which showcases the growing influence of Chinese companies across various sectors in the global market. Among these sectors, the Enterprise Service sector has gained significant popularity, and Tuya Smart has emerged as a key player in this field.

Tuya Smart is recognized as the world’s leading Internet of Things (IoT) Platform-as-a-Service provider in terms of shipment volume. Operating under a “B2B2C” business model, Tuya serves as an IoT developer platform, attracting over 700,000 platform developers. The company has achieved success by offering one-stop services to overseas businesses, departing from the traditional model of direct product distribution in global markets.

One of the contributors to Tuya’s success is its strategic partnership with Amazon Web Services (AWS). By partnering with AWS, Tuya is able to provide IoT services to 220 countries and regions worldwide. This widespread coverage positions Tuya to cater to the global IoT market effectively.

Recognizing the challenges posed by global warming and the competitive IoT market, Tuya has made early forays into frontier areas such as the Home Energy Management System (HEMS). This move allows Tuya to achieve sustainable development and seize opportunities in this emerging market.

Tuya’s Vice President and Chief Marketing Officer, Ms. Jingdan Na, emphasizes the importance of technology, platform, and reputation in driving collaborations with large enterprises and developers to build a robust IoT ecosystem. Na also highlights the promising prospects of the HEMS market, as it aligns with the goals of fighting climate change and achieving carbon neutrality. European and American markets are expected to embrace HEMS technology, considering the pressing need for energy conservation and the surging demand for high-energy-consuming appliances like air conditioners.

HEMS aims to revolutionize smart homes by digitizing home energy management. With IoT products gaining popularity, there is a need for new technologies to optimize energy consumption in residential spaces. By integrating smart devices with power-saving functions and applying precise electricity consumption data analysis, Tuya envisions achieving energy conservation and emission reduction in the smart home environment. This includes passive monitoring and active management of household energy consumption.

With widespread adoption, HEMS has the potential to substantially change electricity bills for consumers. Tuya envisions a future where electricity bills resemble mobile phone bills, providing detailed breakdowns of electricity usage and time for different appliances. This level of control and optimization can lead to substantial cost savings for consumers and facilitate a win-win scenario for both consumers and electric power companies.

Tuya Smart’s innovative approach to IoT and its strategic focus on the HEMS market position the company for continued success in the overseas market.

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