The cloud computing market in India is expected to grow at a CAGR of 40% by 2014, from an estimated $66.7 million in 2009, driven by cost and performance efficiencies, IT research firm IDC on Thursday said.

According to IDC�s �India Cloud Computing Market: Current State and Future Roadmap Study 2010�, the Indian public cloud computing market was estimated to be $66.7 million in 2009.

Cloud computing is an internet-based facility to share technological resources, software and digital information. The emerging field would function on a pay-per-use model, helping companies bring down operational costs.