DÜSSELDORF, April 22, 2021- Tuya Smart (NYSE: TUYA), a leading global IoT cloud platform, today hosted the eighth event in its AI+IoT Business Conference Europe virtual conference series for 2021. The event focused on developments in the Greek smart home market, and invited industry experts to share insights. The previous seven events in the series focused on the smart home markets of Italy, Russia, the Netherlands, Poland, Spain, France, and the UK.
Vincent Lu, Director of the Balkan market from Tuya Smart, shared the data from Statista Digital in his presentation, showing that the European smart home market was worth $18.4 billion USD in 2019, with security making up the largest valued segment worth $4.1 billion USD. Smart home security revenue alone is expected to reach $40.6 billion USD by 2025 for the European market. Another popular category, comfort and lighting, is expected to reach $24.8 billion USD in revenue by 2025.
Stavros Poulios, Head of Smart Home Products in EUROLAMP S.A., remarked that IoT products are becoming common in more and more households. Although there are a great variety of products available, consumers still seem to be more interested in having a simple way to setup and control their smart home, while at the same time keeping strong functions and many different options.
Giorgos Paronis, Head of Energy Services & IoT Solutions at WATT+VOLT S.A., in his presentation proposed that a smart home refers to one equipped with an advanced automation system, able to integrate the control of smart devices, and able to provide consumers with comfortable, efficient, and safe services through system solutions. However, there are few solutions in the Greek market that can meet this demand.
To view the conference presentations, please register at https://www.tuya.com/event/abc/eur. The next event will be on April 27 and focus on the development of the smart home market in Turkey.
About Tuya Smart
Tuya Smart (NYSE: TUYA) is a leading global IoT Cloud Platform with a unique, all-in-one offering of cloud + connectivity + app that makes it easy and affordable for brands, retailers, and OEMs to make their products smart. Tuya’s platform has smart-enabled more than 252,000 device SKUs in hundreds of categories worldwide, serving over 262,000 developers globally. Tuya is internationally operated with headquarters in the U.S., Germany, India, Japan, Colombia, and China.