How companies turn pandemic threats into opportunities



Tuya Smart publishes white paper: 60 smartest companies thrive after pandemic

NEW YORK, November 1, 2021 / PRNewswire / – When the global economy collapsed under pressure from the pandemic, businesses looked for new ways to stabilize and grow. While organizations large and small have struggled to overcome its effects, some have emerged with more success than others.

Although their strategies differ, digitization and smartization have prevailed as the dominant themes. A new study has supported them as determinants of a company’s success amid unprecedented economic turmoil.

According to the white paper, The 60 Smartest Companies Thriving Post-Pandemic, published on 21st of October through Smart Tuya and Global Intelligent Business and IoT Business Vantage (IBV) media platforms, digitization and smartization are the current main trends for companies in all industries responding to the threats brought by the pandemic.

The white paper, featuring research from Gartner, the world-renowned research and consulting firm, looked at 60 companies that have improved their operational efficiency by adopting smarter technologies or have positively transformed their services to benefit the public. The list includes companies of all sizes and covers a wide range of industries, from healthcare to services to manufacturing.

Different paths to digital transformation

Blockages, social distancing and remote working have changed the way consumers interact with the world. As the Gartner CIO 2021 survey found that 76% of companies said the demand for new digital products and services increased in 2020, and 83% expect this trend to increase in 2021. Business leaders aligned their strategies accordingly. A separate Gartner survey in 2020 found that administrators planned to increase IT and technology spending by 6.9% on average.

The path to digitalization begins with remote services and experiences, but it requires concerted innovation on both the software and hardware fronts. Smart hardware products must be balanced by remote collaboration platforms and management systems. Failure on either side could cause the whole initiative to fail.

Fortunately, with emerging technologies like AR, VR, IoT, 5G, and blockchain, the options are plentiful. Even the smallest organizations can benefit from a plethora of flexible and inexpensive options.

Some cases highlighted in Smart Tuya the white paper is simple; they infused their traditional products with smart systems for added value. For example, Goodyear seized the opportunity to integrate smart functionality into the product portfolio of its Miralbueno group.

The Miralbuen Group, which supplies agricultural and industrial equipment to South America and Europe for over 30 years, in partnership with Smart Tuya to power its scooters, air purifiers and air quality monitors under the Goodyear brand. Their collaboration has enabled Goodyear to increase the value of its products, enrich their functions with advanced controls and, in turn, provide greater convenience to their customers. The Goodyear journey is a classic example of progressive digital transformation.

But the study also revealed challenges that even veteran players face on the pitch. No one was immune to catching up with the pace of innovation. This is the case with AnyOnNet, a leading IoT company in South Korea.

The advent of the pandemic has brought health care to the fore. The elderly and hospital patients were particularly vulnerable and therefore needed more tools to achieve equity. But even before the pandemic, accessibility has always been a priority for long-term care homes and hospitals. The pandemic has accelerated the pace of innovation.

When AnyOnNet became an elder care solution provider for Ilsan Hospital at Dongguk University, the company had to overcome many challenges despite its 15 years of experience. South Korea has a handful of major players that dominate the IoT market, and the cost of IoT equipment is unaffordable for many consumers. Not only has AnyOnNet faced a hostile market climate, but its products must also connect to a larger ecosystem for greater choice, while remaining reasonably priced for the customer.

As such, AnyOnNet has leveraged Tuya’s Application SDK to power its product line, achieving interoperability with over 410,000 Smart Tuya products without massive expenditure to develop its own platform. The partnership enabled AnyOnNet to meet the hospital’s demands and raise its brand image in one fell swoop.

Call for more support from the public sectors

Digital transformation is no longer exclusive to the private sector. As businesses continue to embrace smarter tools to provide better service, governments and regulators must also craft new privacy, data governance and sustainability laws to keep pace.

Governments also need to set a clear path for developing smarter cities. With more robust infrastructure in place, smart cities can be more fortified against future disasters. Achieving this goal begins with an ecosystem-based approach and shared responsibility among leadership partners.

As a veteran of the IoT space, Tuya Smart’s The IoT platform can accelerate digital transformation in the private and public sectors. Its development platform is used by more than 384,000 developers from more than 200 regions and countries around the world. Through his new white paper, Tuya explores these topics in depth and provides a more in-depth analysis of how different industries are adapting to the dynamics of digital transformation.

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