T3 Technology Co. Ltd. (T3 Technology), a leading telecommunications solution provider in Southeast Asia and the global IoT (Internet of Things) development platform Tuya Smart (TUYA) have signed a strategic cooperation agreement, announcing a new partnership for software App development, IoT product planning and design, ecological expansion and cloud deployment.
The partnership is expected to open up the Southeast Asian market for T3 Technology and help cement their position as a leader and pioneer of the digital economy era in the region.
At present, driven by cutting-edge technologies such as 5G communications, intelligent perception, and edge computing, the global IoT industry is rapidly expanding. In 2020, the global smart home device market is close to $130 billion. It is expected that in 2024, global product shipments will be more than 1.4 billion units. Benefiting from the Thai government’s policy support over the years, Thailand’s IoT industry has developed rapidly. According to a survey of the Asian IoT Business Platform, 89% of Thai companies are exploring or implementing IoT solutions, ranking first in Southeast Asia. Meanwhile, Thailand has become ASEAN A pioneer in exploring and implementing IoT solutions to increase productivity and innovation capabilities. The huge potential in Thailand and even the ASEAN market has attracted the participation of leading players in the global industry.
T3 Technology CEO, Leo Yu, said: “T3 Technology always adheres to customer-centric, technological leadership as the cornerstone, based in Thailand, focusing on Southeast Asia, facing the world, focusing on the layout of three major business directions: home terminals, smart IoT, and end-to-end telecommunications system product solutions. At present, the home terminal has the largest share in the new increase market of Thailand, and the goal is to be the first in Southeast Asia within three years. Meanwhile, the smart IoT field is aiming to be the first in Southeast Asia within three years. This signing is a strong and sincere cooperation between the two parties. It marks the overall improvement and deepening of the level of cooperation between the two parties, and is jointly committed to providing customers and consumers with smart IoT services and value.”
Eva Na, Tuya Smart Market and Strategic Cooperation Vice President and CMO, said: “Tuya has always adhered to the value of “customer success”, sincerely cooperating with customers and empowering partners with industry-leading technical capabilities, rich product ecology and a flexible supply chain system. Tuya will work hard with T3 Technology to jointly promote smart devices and solutions in fields, such as home furnishing, commerce, and municipal engineering, and help T3 Technology to become a benchmark enterprise and the no. 1 brand in Southeast Asia’s IoT industry. “
The development comes in light of the government’s work to promote the “Thailand 4.0 Strategy” new economic model, to transform Thailand’s industrial economy into a digital economy driven by innovative research and development therefore the promoting the development of IoT has become an important part of it. Thailand’s IoT market is forecast to reach $2.19 billion by 2030.Internet Explorer Channel Network