Twenty-four hours is not typical. I'm a bit out of date, but I think four hours is more common. On Toy Story, it was more like two. The increase is due mostly to the use of global illumination for nearly all scenes now. Renderman traditionally didn't do ray tracing or any other GI lighting. The modern version does, and it simple takes longer.
Higher resolution, and stereo (3D), are also to blame. Toy Story was rendered at less that 1080 HD resolution!