Tuya Smart: Industry Leaders Discuss UK Smart Home Market Growth Trends at the ABC Business Conference 2021

DÜSSELDORF,Germany,April 21,2021 -- Tuya Smart (NYSE: TUYA) a leading global IoT cloud platformtoday concluded the seventh of ten virtual events for the AI+IoT Business Conference Europe series. Today's event featured experts from the UK and Europe who shared insights on trends and outlooks for the UK smart home industry. Remaining in the Europe series are conference days dedicated to Turkey,Greece and finally to the German IoT and smart home market.

During the speaker presentations,Ella Yuan,Tuya Smart's Regional Director of Western and Northern Europe,Eurasia pointed out that the UK,and France are the largest IoT markets in Europe. In fact,the UK might be considered one of the fastest growing markets for smart security solutions. Smart speakers,which are often one of the first purchases a household makes in the smart home segment,are popular products in the UK.

Kevin Nolan,General Manager of Operations & Sales for Technical Consumer Products (TCP),an energy efficient lighting company,commented that four key segments are driving smart home adoption in the UK: businesses driving industry adoption,small businesses looking for ease of use,first time buyers trying out small home products,and more mature consumers fully integrating smart home products throughout their household.

Nigel Callaghan,CEO of Link2Home,a UK-based smart home firm,remarked that security and utility management are expected to become the two largest smart home segments in the UK. While currently around 56% of the UK smart home market is comprised of single device users,future development will come from users adopting multiple devices to create an interconnected smart home.

Jon Harros,Director of Certification and Testing Programs at Zigbee Alliance,an organization dedicated to creating open standards for IoT products,shared some industry figures in his conference speech. He remarked that currently 57% of homes in the UK have smart devices,with smart meters and smart speakers the most popular smart home devices.

To view the conference presentations,please register at https://www.tuya.com/event/abc/eur. The next event will come on April 22 and relate to the development of smart home market in Greece.

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