Karlsruhe, May 23rd 2023 – asknet Solutions AG, a leading global provider of digital software distribution and e-commerce solutions, announces that it will offer its customers e-commerce services in Saudi Arabia and Serbia in the future. This increases the company's global footprint to more than 190 countries.
"We are pleased to expand our professional services for our clients to two additional and promising countries," explains Christian Herkel, CEO of asknet Solutions. "Saudi Arabia is undoubtedly one of the most influential countries in the region, but it is also—and this also applies to Serbia—an exceptionally high-growth e-commerce country."
With a per capita income of more than USD 23,000 (source: World Bank), Saudi Arabia is one of the richest countries in the Arab world. This year, e-commerce sales in Saudi Arabia are expected to be in the order of almost USD 12 billion. By 2027, market research institutes expect the market volume to increase to more than USD 20 billion. This corresponds to a compound annual market growth rate (CAGR) of 13.9 %. More than 73 % of the inhabitants on the Arabian Peninsula will thus make regular online purchases.
With an estimated volume of USD 956 million (2023), the e-commerce market in Serbia is significantly smaller, but even more dynamic with an average annual growth of 14.7 %. By 2027, with a user penetration of over 62 %, an e-commerce market volume of almost USD 1.5 billion is expected.
"The fundamental data show the high attractiveness of both regions. Through our market entry, we will benefit from the high growth rates in these countries. Constantly expanding our global footprint has been the decisive competitive factor for us as a dynamic and agile company from day one. With these two additional countries, we are now taking the next step," adds CEO Christian Herkel.
Contact
Magda Gajny
investors@asknet.com
https://asknet-solutions.com/
About asknet Solutions AG
asknet Solutions AG is a renowned e-commerce, procurement and EdTech specialist headquartered in Karlsruhe, Germany. The company’s e-commerce Solutions Business Unit develops and manages online stores for digital and physical products worldwide. Leading global publishers such as Cyberlink and Steinberg rely on asknet's e-commerce expertise to distribute their products in more than 190 countries. asknet also offers software procurement and distribution for European universities and is the undisputed market leader in Germany (Academics Business Unit). The asknet portfolio includes a wide range of high-quality software applications for the academic sector, ranging from IBM SPSS to Adobe Creative Cloud. By continuously expanding its portfolio beyond software procurement, through partnerships with leading software manufacturers such as Udemy and Class Technologies, asknet aims to become the leading IT service provider in the European education market.
