What Has Set the Alarm Bells Ringing in the Energy Sector? Top Challenges and Solutions

Dec 13, 2017

energy sector

The human race’s greed for energy has reached unprecedented levels with the swelling world population and the gradual industrialization in developing countries. Excessive dependence on fossil fuels and increasing rate of depletion of other natural resources for harnessing energy has added to the turmoil in the energy sector. This trend has become one of the primary sources of concerns for scientists and environmentalists around the world. The recent trends have seen reforms in the energy sector with industries slowly switching over to renewable sources for generating energy. But will that be adequate to solve all the problems in the energy sector? What are the other significant challenges that are awaiting the energy sector? We have the answer:

Speak to our experts to understand how we help clients from the energy sector to collect and analyze data from multiple endpoints.

Digging Out the Problem: The Challenges

energy sector

Mounting Regulations

One of the significant challenges concerning the energy sector is the increasing number of regulations that are being imposed by the government. Due to the sensitive nature of the energy sector, the government and other regulatory bodies tend to keep constant tabs and close watch on this industry. And what’s worse? These regulations constantly keep changing, giving the players little time to cope.

Demand Exceeding Supply

Bridging the gap between the energy demand and supply is worrying the players in the energy sector.  While the energy sector companies seek to provide clean, reliable, and inexpensive energy from alternative sources, the role of fossil fuels is inevitable. But with limited resources available in hand and the falling price rates, the players in the energy sector are far from meeting the existing demands.

Request a free brochure to gain detailed insights into our oil and gas analytics solutions portfolio.

 Environmental Concerns

Greenhouse emissions, climate change, and carbon footprints have become a prominent source of concern for the energy industry players and environmentalists alike. Also, the interference from government and other regulatory bodies in this regard is adding on to the tension that is already building up in the energy industry.

Finding Gold: The Solution

energy sector

To know more about the challenges, market trends, and technology impacting growth in the energy sector, request more information.

While it is not possible to completely mitigate all the problems mounting in the energy industry in a jiffy, these measures can help ensure that they are more controlled:

Encourage the Growth of Alternate Sources – The need of the hour in the energy sector is to invest in extensive research to formulate new sources of harnessing the energy and reduce the dependence on fossil fuels to arrive at an optimum fuel mix.

Focusing on the Green Concept – By focusing on renewable and green sources of energy, companies in the energy industry will invite fewer regulatory interventions and will be able to reduce their carbon footprint.

Promoting Private Investment – By encouraging private investments in the energy industry, companies in this industry can ensure that they can invest enough in generating energy for meeting the rising consumer demands.

Ready to Harness Game-Changing Insights?

Request a free solution pilot to know how we can help you derive intelligent, actionable insights from complex, unstructured data with minimum effort to drive competitive readiness, market excellence, and success.

Recent Blogs

Use Cases of Big Data Analytics in the Healthcare Industry

Healthcare Industry Overview  The healthcare industry has seen a complete overhaul in the recent years due to big data analytics. Given the ubiquity of healthcare data generated by business processes within the healthcare sector, healthcare data analytics and big...

read more

Major Use Cases of Big Data Analytics in Food Industry 

Irrespective of the location across the globe, you’ve been a part of the food and beverage industry, often as a consumer. As we’re all aware, the food and beverage industry is divided into multiple sub-sections, ranging from—fine dining to fast food. First, let’s talk...

read more

Industries

Our advanced analytics expertise spans across industries, sectors, and functions, which enables us to deliver robust, agile solutions to all our clients. These are our core competencies, formed through years of experience.

Insights

Our free resources shed light on our extensive expertise and equip you with information to accelerate decision-making, growth, and innovation.

Talk to us
Talk to us