Riyadh – Sharikat Mubasher: Saudi Arabia will have to digitize its economy by deploying the best web developers, coders, mobile applications, and E-Commerce platform developers that will help the Kingdom achieve exponential growth in the next five to 15 years.
Dubai-based E-commerce leader WebCastle Technologies, which has recently entered the Saudi Arabian market, has been bestowed upon the prestigious Best E-Commerce Agency Award - KSA 2024 for its outstanding performance at the 6th Middle East Retail & E-Commerce Summit and Awards KSA held in Riyadh.
The recognition comes within a few months after WebCastle Technologies entered Saudi Arabia armed with a business license, office and an efficient team that is digitally transforming many Saudi Arabian companies to accelerate growth through their online platforms though its expertise.
Jabir ML, Co-Founder and Chief Executive Officer, and Suhail Iqbal, Director and CGO of WebCastle Technologies, received the award for the company.
Further, WebCastle Technologies plans to accelerate the business growth of its Saudi Arabian clients by migrating their online businesses to the Web 3 technology platforms.
The award is a resounding recognition for WebCastle Technologies, which has delivered more than 1,000 projects including website development, mobile application and e-commerce projects to more than 800 satisfied clients in the GCC region, spanning over 15 years, by a team of more than 150 professionals working in the GCC and India.
Winning the award comes as revenue in the E-commerce market in Saudi Arabia is poised to reach $14.78 billion by 2024.
However, the E-commerce revenue is expected to record a Compound Annual Growth Rate (CAGR) of 11.08% to $25 billion by 2029, according to Statista.com, a global market intelligence provider.
“The Best E-Commerce Agency Award - KSA 2024 is a testament to our expertise, dedication, professionalism, hard work as well as our contribution to the retail services sector and we are proud of our team that has made us successful and more importantly, made our customers happy,” ML commented.
“While local e-commerce platforms dominate the Saudi market, new players are entering – including Amazon Prime, which entered Saudi Arabia in January 2021. Importantly, the Saudi Arabian Government is taking steps to strengthen Saudis’ confidence in e-commerce and to spur the use of e-commerce platforms by strengthening the country’s e-commerce regulatory environment to protect consumers and companies,” said a recent report by the International Trade Administration, part of the US Department of Commerce.