The outlook for the uptake of personal and protective equipment (PPE) in the oil & gas (O&G) industry looks promising with the expansion of O&G activities through new global projects, improved stability and the presence of many occupational hazards. Vendors should focus on developing a global presence, multiproduct offerings, and close customer interactions to harness current growth opportunities. Frost & Sullivan expects the mature O&G PPE market to grow at a compound annual growth rate (CAGR) of 3.7% to reach $7.59 billion by 2023.
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Based on its recent analysis of the global industrial valves and actuators market, Frost & Sullivan recognizes Emerson with the 2019 Global Growth Innovation & Leadership Frost Radar Award. With more than 80,000 employees, Emerson is a global leader in supplying engineering technologies and services to customers in the industrial, commercial, and residential markets. Emerson's Automation Solutions business combines deep expertise and innovative technologies to guide its customers through digital transformation and enable game-changing improvements in safety, reliability, production, and energy management.
The rising interconnectivity among devices in industries is opening up the market for wireless gas sensors. These sensors can be installed in smartphones and are designed to support Bluetooth, Wi-Fi, near-field communication, and other wireless connections. Their portability, low power requirements, and high-performance potential make them ideal for Internet of Things (IoT) applications, especially in critical and hard-to-reach areas in mining and oil & gas. With further improvements in battery life, ruggedness, form factor, and standardization, wireless gas sensors will find a wider application and revenue-generation potential.