The cannabis industry is growing since 2000 and it has legalized in some parts of the globe. Globally, marijuana is the most commonly consumed drug. However, keeping the marijuana plant is illegal in many parts of the world. But, Canada became the second country in the world to fully legalize the use of recreational marijuana. The legalization has opened doors for a multi-billion opportunity in the subcontinent of North America for entrepreneurs to dominate in retail sales of cannabis. The North American Marijuana Index who is a maker of cannabinoid-based drugs in North America has narrated that the demand for cannabis has risen to 600% since 2016.
Another company based in Canada, Canopy Growth Corp., which is the largest supplier of cannabis in Canada has been planning to add an additional 5,00,000 sq. ft of cannabis production over the next 12 months. The investors are also readily financing the on-demand cannabis start-ups and emerging out as winners. Now, the pot sales are also estimated to boost the tax revenue of the country to more than 20%. Therefore, the future of the cannabis industry is estimated to grow to $63.5 billion by 2024 thus attracting many budding entrepreneurs to establish their niche in the domain.
IMPACT OF TECHNOLOGY ON CANNABIS INDUSTRY
With upliftment of ban on the limited use of recreational Cannabis, the opportunities in this segment have suddenly exploded. According to a report, the increment in people buying marijuana online has seen a 200 percent growth with an estimated 2.4 million searches in a single month, excluding the irrelevant searches. With the legalization of weed for all purposes, the services in this sector will definitely show escalating slope in future. The Alberta province of Canada is home to some 200 cannabis retail stores and at least 111 legal pot shops have been planned to open across the nation of 37 million people.
Therefore, entrepreneurs eyeing to emerge as the niche players in the marketplace can espouse an aggregator business model in which they can amalgamate the cannabis vendors or cultivators to fulfill the demand of their customers. The 2.4 million search of recreational weed in a single weed point to the vast potential of the on-demand cannabis industry. Thus, AppsRhino’s real-time tracking solutions and custom mobile apps for weed services will prove to be a secret weapon for a cannabis delivery app. With the legalization of cannabis, since the on-demand cannabis venture seems to be cannabis delivery app , cannabis on demand, on demand cannabis, Custom mobile apps for weed a golden opportunity, starting a business model of cannabis on-demand can generate a pot of gold. Technology will play an important role in bridging the gap between the customer’s needs and supply chain.
So, there is a pool of opportunities in the on-demand cannabis industry. Entrepreneurs can fulfill the demands of its clients by offering fast and reliable services through Mobile Apps as all the demands of the consumers can be satisfied with a single tap on the screen.
AppsRhino is a mobile app development company that develops an app for entrepreneurs, small businesses, and large enterprises. In the 5 years of existence, we have been able to help companies realize their goals on the mobile platform. Contact us to know how we can help your business to reach the next level.