Tuya Smart Again Recognized in Gartner's "Hype Cycle for Smart City and Sustainability in China, 2024"

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Tuya Smart (NYSE: TUYA, HKEX: 2391) has been recognized in Gartner's 'Hype Cycle for Smart City and Sustainability in China, 2024' for the third consecutive year. This acknowledgment highlights Tuya's role in advancing smart city technologies and sustainable development in China.

Tuya's solutions span various urban settings, including traffic optimization, smart streetlights, community enhancements, and office automation. The company's smart streetlight solutions offer intelligent control, energy conservation, and data monitoring. Tuya also facilitates smart community upgrades, covering homes, parking lots, and access control.

In the energy sector, Tuya has developed building and home energy management systems. These systems help optimize energy efficiency, reduce costs, and minimize waste. In Singapore, Tuya-enabled energy-saving kits have demonstrated up to 54% reduction in monthly electricity consumption.

Tuya has joined the United Nations Global Compact (UNGC), affirming its commitment to global sustainable development. The company's inclusion in multiple Gartner reports underscores its expertise in AI technology, smart home ecosystems, and innovative device development.

NEW YORK, Aug. 21, 2024 /PRNewswire/ -- Tuya Smart (NYSE: TUYA, HKEX: 2391), the leading global cloud platform service provider, has been selected for Gartner's prestigious "Hype Cycle for Smart City and Sustainability in China, 2024" for the third consecutive year. This recognition highlights the maturity and potential of smart city and sustainable development technologies, as well as their significant market impact.

Eva Na, Vice President of Marketing and Strategic Cooperation, and CMO of Tuya Smart, expressed her delight at this achievement. "This accolade not only validates our technological prowess and industry influence, but also affirms our commitment to advancing smart city construction in China. As we navigate the complexities of technological progress, Tuya will continue to lead the way in addressing weaknesses in smart city infrastructure, bolstering AI and cloud computing capabilities, and introducing innovative solutions that propel cities towards a greener, smarter future."

Empowering the Transformation Towards Future Smart Living

Gartner's "Hype Cycle for Smart City and Sustainability in China, 2024" report underscores the pivotal role of IoT, generative AI, data center networks, and cloud platforms as the cornerstone of smart city development. These technologies empower cities to streamline resource and service management, adeptly tackle intricate urban challenges, and ultimately, foster a transformed urban environment that significantly enhances the quality of life for its inhabitants.

At the forefront of this transformation, Tuya remains steadfast in its commitment to pioneering innovative solutions tailored for diverse urban settings. From traffic optimization to smart streetlights, community enhancements, office automation, and supermarket efficiency, Tuya's solutions have been seamlessly integrated into these scenarios, revolutionizing urban management and service delivery. As a result, the company has significantly contributed to the improvement of people's quality of life, setting the pace for the future of smart cities.

For instance, Tuya enables developers to craft smart streetlight solutions that encompass intelligent control, centralized management, automation, energy conservation,  comprehensive data monitoring, and efficient operation and maintenance, elevating the management standards of lighting facilities. Through the intuitive energy consumption dashboard, users can instantly grasp the energy usage of streetlights, ensuring reliable data support and bolstering the energy-saving effectiveness of these vital urban infrastructures. Furthermore, Tuya's smart lighting strategy intelligently adapts to varying traffic patterns, automatically adjusting light intensity to cater to the needs of vehicles and pedestrians, thereby providing a more comfortable and energy-efficient lighting experience.

Complementing streetlight advancements, smart communities are emerging as a cornerstone in the smart city landscape. Leveraging the cloud developer platform, Tuya facilitates a seamless smart upgrade across diverse scenarios within communities, encompassing smart homes, parking lots, access control, and elevator management. This comprehensive approach ensures a seamless transition from individual home intelligence to an overarching smart community, enhancing property management and fostering innovation in real estate development.

As a pioneer in the smart industry, Tuya plays a pivotal role in the construction of smart cities. Harnessing the formidable momentum of cutting-edge technology, Tuya relentlessly propels cities towards unprecedented levels of efficiency and intelligence. This relentless pursuit not only fosters a quantum leap in urban development but also significantly elevates the quality of life for residents, marking a dual triumph for the future of smart cities. 

Empowering with Smart Energy Solutions, to Shape the Blueprint for Sustainable Development

Since the adoption of the United Nations' 2030 Agenda for Sustainable Development in 2015, nations and businesses worldwide have embraced the challenge of addressing climate change and environmental degradation, actively engaging in conservation efforts and advancing towards sustainable development. In this global pursuit, low-carbon and energy-efficient practices have emerged as paramount priorities across industries.

Recognizing this imperative, Tuya has been at the forefront of innovation, leveraging emerging technologies like AI and cloud computing to devise groundbreaking solutions that enable enterprises in their energy conservation and emission reduction endeavors. In the energy sector, Tuya's building energy management system stands as a testament to this commitment. By establishing carbon emission models and offering tailored energy-saving strategies, this system enables customers to optimize the energy efficiency of their buildings, thereby reducing operational costs and contributing to a greener future.

In the realm of household energy, Tuya has crafted a home energy management system that revolutionizes energy monitoring for households. This system offers a seamless visualization of energy info encompassing lighting, storage, charging, and consumption, significantly minimizing energy waste and household expenses. Currently, Tuya's home energy management systems have garnered widespread adoption across markets in Europe and Southeast Asia, yielding remarkable outcomes. Notably, in Singapore, Tuya-enabled energy-saving kits have demonstrated an average energy savings of 25%, with exceptional households achieving a stunning 54% reduction in monthly electricity consumption.

Underscoring its commitment to global sustainable development, Tuya has officially joined the United Nations Global Compact (UNGC) this year, pledging its full support for the organization's global action plan. This move signifies international recognition of Tuya's steadfast dedication to fulfilling its social responsibilities and opens up new avenues for the company to contribute meaningfully to sustainable development initiatives through active participation in discussions and practical implementations addressing key sustainability challenges.

It is noteworthy that Tuya has garnered recognition in various Gartner reports this year, including the "Emerging Tech: Top Trends in Embedded AI Smart Home Products", "Emerging Technology Horizon for Devices", and "Emerging Tech Impact Radar: Personal Technologies", among others. This underscores Tuya's profound expertise and remarkable prowess in integrating AI technology, constructing smart home ecosystems, and pioneering innovative device developments.

As a industry leader, Tuya's inclusion in multiple Gartner reports this year serves as a testament to its relentless pursuit and exceptional achievements in the realms of smart cities and sustainable development. Looking ahead, Tuya will continue to collaborate with intelligent enterprises, to expedite the manifestation of the alluring vision of smart cities and sustainable development, painting a vibrant picture for humanity's future.

Disclaimers:

Gartner's research reports are impartial, not endorsing any specific vendors, products, or services. They do not advocate for the exclusive selection of vendors based on ratings or accolades. Rather, they present the opinions of Gartner's research team, which should not be construed as factual assertions. Regarding these reports, Gartner disclaims any explicit or implicit warranties, including those related to merchantability or suitability for a specific purpose. Furthermore, "Gartner" and "Hype Cycle" are trademarks and service marks of Gartner, Inc. and/or its affiliates, used hereunder with authorization, and all associated rights are reserved.

 

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SOURCE Tuya Smart

FAQ

What recognition did Tuya Smart receive in Gartner's 2024 report?

Tuya Smart was recognized in Gartner's 'Hype Cycle for Smart City and Sustainability in China, 2024' for the third consecutive year, highlighting its role in advancing smart city technologies and sustainable development in China.

What are some of Tuya Smart's solutions for smart cities?

Tuya Smart offers solutions for traffic optimization, smart streetlights, community enhancements, office automation, and supermarket efficiency. Their smart streetlight solutions include intelligent control, energy conservation, and data monitoring capabilities.

How effective are Tuya Smart's energy-saving solutions?

In Singapore, Tuya-enabled energy-saving kits have demonstrated an average energy savings of 25%, with some households achieving up to 54% reduction in monthly electricity consumption.

What global initiative has Tuya Smart joined to support sustainable development?

Tuya Smart has officially joined the United Nations Global Compact (UNGC), pledging its support for the organization's global action plan and demonstrating its commitment to fulfilling social responsibilities and contributing to sustainable development initiatives.

How has Tuya Smart's stock (TUYA) been affected by this recognition?

The press release does not provide information on how Tuya Smart's stock (TUYA) has been affected by this recognition. Investors should consult financial sources for current stock performance data.