BillBharo is an Electronic Payment Platform catering to Businesses who accept Recurring and Subscription-based Payments

The domestic cloud computing industry is estimated to grow at a CAGR of 53% to be a Rs 2,434 crore market by 2014, a study conducted by CyberMedia Research India said.

“Cloud computing is witnessing widespread interest from the vendor-service provider-channel community on the one hand and business leaders and CIOs on the other,” CyberMedia Research India Software and IT Services Research Lead Analyst Kamal Vohra said.

This is fuelled by the strong belief that cloud computing will allow a large number of SMB enterprises to adopt the same enterprise class software and technology solutions, it added. As per the study, penetration in cloud computing is expected to grow by 6.8% in 2012 from 4% in 2010.

On the Software-as-a-Service (SaaS) industry, the study said the market was expected to grow by 50% to touch 465 crore by this year-end. The Infrastructure-as-a-service Industry (IaaS) was also expected to pick up pace after 2012. The overall CAGR for the India IaaS market during 2010-2014 was expected to be at 49%.