A large majority (71 percent) of utilities now use cloud software, up from just 45 percent three years ago, according to an Oracle survey.
Improving customer experience was noted as the key driver for increased cloud investment. But while progress has been made, 85 percent of respondents still cite security as a top concern and noted that regulatory acceptance remains a barrier to cloud adoption.
“Just a few years ago, utilities looked at cloud computing with skepticism at best. Today, many realize it’s essential to their survival,” said Brian Bradford, vice president, industry solutions, Oracle.
“Utilities are increasingly seeing cloud as a fundamental asset in meeting ever-evolving expectations, mitigating security concerns, and turning data into an opportunity to modernize and evolve their operations to better serve constituents and customers.”
The report surveyed more than 150 global utility leaders to better understand the pace and breadth of cloud computing adoption.