The U.S. cannabis industry is in a time of rapid transition– business models are changing, investors are questioning projections, legalization is advancing, new talent is entering the industry and technology is rapidly evolving. It’s an exciting time to be in cannabis. Here’s what we think growers can look forward to in 2021.
It is a fact that the CBD industry is growing faster than companies can harvest the plants. Researches by reputable financial firms show that by 2022, the CBD industry will be worth more than 22 billion dollars. Wall Street experts estimate that within a decade, the industry will be worth at least more than 75 billion dollars. The boom in the CBD sector has spurred an influx of technology in using new and advanced technologies when cultivating the plants. Technology is needed when farming cannabis plants to keep up with the demand. Scientists have come up with revolutionary biotechnologies which make sure that cannabis plants grow fast and effectively.
Those technologies also ensure that the quality of plant that is grown by farmers and companies is of high quality which makes it possible to produce high-quality CBD products.
Although there is still a lot of research to be one of the best ways to cultivate marijuana seeds, scientists have come up with ways to plant cannabis seeds using technology and machinery using greenhouse technology. Using AI, it is possible to gather a lot of information regarding CBD customer buying habits and preferences. Using that information, you can know which products to improve, products to remove from your portfolio, as well as understanding which products have the highest demand in the online market.
Artificial intelligence has also played a massive role in helping scientists and marketers collect data which they use in analyzing commercial trends as well as using it for scientific reasons. Right now, the internet is flooded with information regarding CBD products. The CBD industry is developing at a very fast pace. Technology will continue to influence the industry for many years to come. Innovation-driven by science will continue to influence the CBD and cannabis industry. However, technology will play a big role in determining how the CBD industry will perform in the future.
We present to you, “Top 10 Cannabis Tech Solution Providers - 2020.”