Smart Wearables Market Set for Rapid Growth and Trend, by 2027

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Smart Wearables Market

• Global Industry Analysis, Size, Share, Growth,
  Trends and Forecast, 2027

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Smart Wearables Market for Oil Gas Industry
Introduction

• The global smart wearables market for oil gas
  industry was valued at US 2.3 Bn in 2018 and is
  anticipated to expand at a CAGR of 12 during
  the forecast period.
• Among device types, the smart watches segment
  held a dominant share of the global smart
  wearables market for oil gas industry in 2018,
  primarily due to various qualities of smart
  watches.
• Among applications, the upstream segment
  constituted a significant share of the global
  smart wearables market for oil gas industry
  in 2018, owing to the high risk factor associated
  with working in the upstream process. 

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Key Drivers of Smart Wearables Market for Oil
Gas Industry

• After the 2014 fall in prices of crude oil and
  natural gas, investments in the global oil gas
  industry dropped significantly in 2015. 
• However, after 2016, investments have been
  increasing gradually, due to steady demand for
  oil and gas products worldwide. Spending on oil
  and gas exploration rose by 20 in 2018, as 140
  new reserves of oil and gas were discovered.
• The total estimate for discovered resources was
  around 9 billion barrels of oil equivalent
  in 2018, which was 10 billion barrels of oil
  equivalent in 2017.
• . In these, offshore discoveries were prominent
  with 70 share of the volumes found, while gas
  resources accounted for about 40 share.

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Major Developments in Smart Wearables Market for
Oil Gas Industry  

• In November 2019, Ansell Ltd, a global leader in
  safety solutions, announced to have entered into
  a partnership with ProGlove, a leading provider
  of industrial wearables, to develop hand
  protection solutions by using the IoT or AI
  technology to ensure correct personal protective
  equipment compliance in workplaces.
• This cooperation facilitated use of innovations
  in Industrial Internet of Things (IIoT) in
  scaling Ansell PPE to create a safe work
  environment.

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Competition Landscape

•  International Inc., 
• TOSHIBA CORPORATION
• 3M
• Alphabet Inc.
• Apple Inc.
• SAMSUNG ELECTRONICS CO., LTD,
• FUJITSU

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