The GCC’s tripling cloud market will drive the UAE’s innovation economy, according to comments stemming from a meeting between the CEOs of Mubadala and SAP. Frost & Sullivan predict the GCC’s cloud market to grow from USD 58 million in 2013 to USD 216 million in 2020, with the UAE taking a leading role in cloud security. Khaldoon Khalifa Al Mubarak, Managing Director and Group CEO of Mubadala Development Company, met with Bill McDermott, CEO of SAP, the world’s business enterprise software leader, who encouraged IT innovation.

“Global businesses are continuing to look at innovative ways to manage their operations, particularly with the cloud becoming increasingly important for ensuring the security and sustainability of the rapidly-growing knowledge-based economy,” said Khaldoon Khalifa Al Mubarak.

“Since my first meetings back in 2011, it is clear that UAE’s leaders and businesses continue to be early adopters of the latest innovation trends,” said Bill McDermott, CEO of SAP. “We believe that the cloud, big data, and a consumer-grade user experience will continue to change the way business is done and shape the future of the UAE’s digital economy.”