Global Cannabis POS Software Market Overview:
Cannabis retail POS app includes many of the functionality of a traditional retail POS system, and others that help dispensaries and other cannabis retailers manage their businesses more efficiently. Owners of recreational stores or other cannabis stores, as well as their staff, use weed POS tools to streamline everyday business activities. A cannabis company owner requires a solution that automates vital aspects of the business, much as a store in another industry might use retail POS tech. This involves safeguarding consumer information and aiding companies with changing state and federal regulatory regulations. The legal cannabis industry will continue to grow as more states legalise the drug. As a consequence, corporate processes, laws, and legislation must evolve as well.
Attributes | Details |
---|
Study Period | 2018-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Historical Period | 2018-2022 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Influencing Trend:
Growing Number of Cannabis Users and Surge in Online Shopping Due to Pandemic
Market Growth Drivers:
Rising Awareness for Cannabis Health Benefits, Regulations in Favor of Legalization and Prevalence of Mental Disorders among Teenagers
Challenges:
Regulatory Approval and Market Penetration
Restraints:
Illegal Sale and Black Marketing and False Prescription
Opportunities:
Ongoing Legalization Amendments in New Regions
Competitive Landscape:
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies.
Some of the key players profiled in the report are IndicaOnline (United States), Cova POS (Canada), MJ Platform (United States), Leaf Trade (United States), Flowhub LLC (United States), Helix BioTrack (United States), Green Bits (Courier Plus Inc.) (United States), Ample Organics Inc. (Canada), Treez (United States) and Proteus420 (United States). Additionally, following companies can also be profiled that are part of our coverage like Dauntless, Inc. (United States), GrowFlow (United States) and Halo Labs Inc. (Canada). Analyst at AMA Research see United States & Canada Players to retain maximum share of Global Cannabis POS Software market by 2028. Considering Market by Deployment Mode, the sub-segment i.e. Cloud will boost the Cannabis POS Software market. Considering Market by End Use, the sub-segment i.e. Cannabis Dispensary (Public, Private) will boost the Cannabis POS Software market.
Latest Market Insights:
On 11th March, 2019 - Dauntless, Inc. Completed its Acquisition of Soro, both Companies Provide POS Cannabis Sales Software. This Acquisition is Aimed to Form an All-Encompassing Network That Will Serve Farmers, Packagers, And Retailers in The United States., On 7th October, 2019 - Halo Labs Inc. Announced the Agreement to Acquire Cannpos Services Corp. (Dispensary Application Software Company), this Will Add Advance POS Capabilities to Halo’s Portfolio which will Enable its Customers to Electronically Interact with Dispensaries, Thereby Reducing Wait Times and Improving Customer Experience. and On 2nd January, 2019 - GrowFlow Acquired LeafOps, this Combination will Enable GrowFlow to Better Support Vertically Integrated Markets, such as Colorado, Where Licensed Cannabis Companies Are Permitted to Conduct Production, Processing, And Distribution Activities Under Local Regulations.
What Can be Explored with the Cannabis POS Software Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Cannabis POS Software Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Cannabis POS Software
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Cannabis POS Software market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Cannabis POS Software market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Cannabis POS Software Providers, New Entrants and Investors, Venture Capitalists, Government Bodies, Corporate Entities, Government and Private Research Organizations and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.