Webcastle Technologies, a Dubai-based e-commerce leader that recently entered the Saudi market, was recognized for its outstanding performance at the 6th Middle East Retail and E-commerce Summit and Awards KSA, winning the Best E-commerce Agency award. – Awarded KSA 2024. Held on May 1, 2024 at the Marriott Hotel in Riyadh.
WebCastle Technologies' co-founder and CEO Jabir ML and director and CGO Suhail Iqbal received the company's award.
WebCastle Technologies achieved this recognition within months of entering Saudi Arabia with business licenses, offices, and an efficient team that has digitally transformed many Saudi companies and accelerated their growth through online platforms through their expertise. , the company said in a media release. . WebCastle Technologies plans to accelerate the growth of its Saudi customers' online businesses by migrating them to its Web 3 technology platform.
According to the company, over 15 years, WebCastle Technologies has delivered over 1,000 projects including website development, mobile applications and e-commerce projects to over 800 satisfied customers in the GCC region from over 150 experts. Provided by a team. GCC and India.
The feat of WebCastle Technologies winning the 2024 Best E-Commerce Agency award comes at a time when Saudi Arabia's e-commerce market revenue is expected to reach $14.78 billion by 2024. E-commerce revenue is expected to compound annually to $25 billion by 2029 at a growth rate (CAGR) of 11.08%, according to Statista.com, a global market intelligence provider. Masu.
“The Best E-Commerce Agency Award – KSA 2024 is a testament to our expertise, dedication, professionalism, hard work and contribution to the retail services sector, and we are proud of our team for making our company successful. And more importantly, we made our customers happy,” said Jabir ML, co-founder and CEO of WebCastle Technologies.
“We are one of the pioneers in the field of e-commerce. We help develop dynamic and attractive web portals, mobile applications and e-commerce platforms, supporting the diversified growth of companies. In this regard. , we are an enabler of growth for our clients and business partners,” he said.
According to the US Department of Commerce, Saudi Arabia's e-commerce channels are poised for continued growth. By 2024, the number of Saudi e-commerce (buy and sell) internet users is expected to reach 33.6 million, an increase of 42% from 2019.
“Saudi Arabia has the highest smartphone penetration rate in the world (97 percent), mobile broadband internet subscribers are higher than most developed markets, and internet speeds are relatively high, ranking 10th in the world. 72 percent of the population over the age of 15 have a bank account,” said a recent report from the International Trade Administration, part of the U.S. Department of Commerce.
“While local e-commerce platforms dominate the Saudi market, new players are entering, such as Amazon Prime, which entered Saudi Arabia in January 2021. Importantly, the Saudi government has We are taking steps to strengthen confidence in Saudi Arabia and foster its momentum in leveraging e-commerce platforms by strengthening the country's e-commerce regulatory environment to protect consumers and businesses. That's it. ”
Webcastle Technologies, a Google Partner with a team of Microsoft Certified Systems Engineers, builds the most user-friendly and efficient web portals, e-commerce platforms, and mobile applications, driving growth for these clients. says the company. The promoters.
Delivering the keynote speech at the 6th Middle East Retail and E-Commerce Summit and KSA Awards, Suhail Iqbal, Director and CGO of Webcastle Technologies, said: “If Saudi Arabia has to grow faster, its business must transform. , will need to become more digital.” We focus on acquiring more customers and accelerating sales. This will only happen if the Saudi company strengthens its presence online and on his Web3 platform. This is the key to Saudi economic growth and employment.
“We started working with public and private sector companies in Saudi Arabia and helping them grow to the next level. It’s a daunting task, but we are already working with Saudi companies. We are embarking on a common journey.”
6th Middle East Retail and E-Commerce Summit and Awards KSA is a niche event series held in multiple countries and multiple venues each year, having already concluded multiple events in UAE, Saudi Arabia, Malaysia, Indonesia Singapore, etc. I am. The event will bring together the region's leading retailers and e-commerce giants to participate in panel discussions, lectures, roundtables, exhibitions, summits, awards ceremonies and more, a media release said.
The success of the event was the result of a structured agenda and the participation of global multinational companies such as Deloitte, MasterCard, Aramex, Noon, Tim Hortons, Flyadeal and Chalhoub Group. WebCastle Technologies LLC had a proud moment during the latest edition of the event. The event, which was held at the Riyadh Marriott Hotel in Saudi Arabia on May 1, was named the 6th Middle East Retail & E-Commerce Summit and Awards KSA, the media release added.
