Utility investments in cloud technology continue to accelerate, in part due to the global pandemic, according to International Data Corp. The market research firm expects revenue from such purchases to increase at a Compound Annual Growth Rate of 15.7% and top the $1 trillion market in 2024. This digital computing foundation is simpler to manage and less expensive to run than legacy systems, thereby affording utilities opportunities to justify changes, such as a faster migration to renewable energy or new ways to market their services to businesses and consumers.
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