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Global Cannabis Technology Market to reach USD 23.5 billion by the end of 2030.

Global Cannabis Technology Market Size study & Forecast, by Application (Cultivation, Processing/Manufacturing, Warehousing, Consumption), by Distribution Channel (Online, Offline), by Component (Hardware, Software), by End Use (Medical, Recreational, Industrial) and Regional Analysis, 2023-2030

Product Code: ICTNGT-34530991
Publish Date: 13-07-2023
Page: 200

Global Cannabis Technology Market is valued at approximately USD 3.87 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 25.3%ver the forecast period 2023-2030. The cannabis technology market refers to the segment of the technology industry that develops and provides innovative solutions specifically designed for the cannabis industry, including software, hardware, and other technological advancements that enhance various aspects of the cultivation, processing, distribution, and consumption of cannabis products. Cannabis Technology Market is being driven by factors such as the rising trend of cannabis legalization in various regions and increasing medical applications of cannabis.

Cannabis is mostly used for medical purpose because it has psychoactive and medicinal properties which is used for treating chronic pain and more. The National Academies of Sciences, Engineering, and Medicine endorse the use of medical cannabis as a viable option for treating chronic pain. Chronic pain is a leading cause of disability, affecting more than 25 million adults in U.S. Food and Drug Administration (FDA) approved the use Source of a medication containing cannabidiol (CBD) to treat two rare, severe, and specific types of epilepsy. Additionally, many countries that legalized recreational use of cannabis are Canada, Georgia, Malta, Mexico, South Africa, Thailand, and Uruguay, plus 23 states, 3 territories, and the District of Columbia in the United States and the Australian Capital Territory in Australia. Thus, the rising legalization of cannabis and rising medical use of cannabis fuel the growth of the market. In addition, advancements in cannabis cultivation technology and also advancement in extraction and processing technologies create lucrative opportunities for the market. However, the research and development restrictions on cannabis hinder market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Cannabis Technology Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the growing implementation of technology in the cannabis industry, coupled with the increasing trend of vaping in the region. North America also considered as the fastest growing region during the forecasted period due to the rising legalization of cannabis in the region. For instance, 21 states in the U.S. have legalized the recreational use of cannabis.
Major market player included in this report are:
Ardent Life, Inc.
Demetrix, Inc.
Courier Plus, Inc. (Dutchie)
Casters Holdings LLC (Fyllo)
Green Thumb Industries
Jane Technologies, Inc.
LeafLink, Inc.
Puff Corporation (Puffco)
Stealth Monitoring Inc.

Recent Developments in the Market:
Ø In February 2022, CannaDAO, a decentralized autonomous organization (DAO), unveiled its blockchain platform designed to revolutionize the cannabis industry by promoting disruption, destigmatization, and decentralization. The platform’s launch can be facilitated by the Aurora cross-chain bridge, which operates on the NEAR protocol. By utilizing blockchain technology and the principles of a DAO, CannaDAO aims to introduce transparency, efficiency, and inclusivity to the cannabis growing and operations sector. This innovative approach has the potential to reshape the industry, providing a secure and decentralized platform for participants to engage in various activities related to cannabis cultivation and operations.
Global Cannabis Technology Market Report Scope:
ü Historical Data – 2020 – 2021
ü Base Year for Estimation – 2022
ü Forecast period – 2023-2030
ü Report Coverage – Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
ü Segments Covered – Application, Distribution Channel, Component, End Use, Region
ü Regional Scope – North America; Europe; Asia Pacific; Latin America; Middle East & Africa
ü Customization Scope – Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Application:

By Distribution Channel:

By Component:

By End Use:

By Region:

North America


Asia Pacific
South Korea

Latin America

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
1.2.1. Cannabis Technology Market , by Region, 2020-2030 (USD Billion)
1.2.2. Cannabis Technology Market , by Application, 2020-2030 (USD Billion)
1.2.3. Cannabis Technology Market , by Distribution Channel, 2020-2030 (USD Billion)
1.2.4. Cannabis Technology Market , by Component, 2020-2030 (USD Billion)
1.2.5. Cannabis Technology Market , by End Use, 2020-2030 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Cannabis Technology Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Industry Evolution
2.2.2. Scope of the Study
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Cannabis Technology Market Dynamics
3.1. Cannabis Technology Market Impact Analysis (2020-2030)
3.1.1. Market Drivers Rising trend of cannabis legalization in various regions Increasing medical applications of cannabis
3.1.2. Market Challenges Research and development restrictions on cannabis
3.1.3. Market Opportunities Advancement in cannabis cultivation technology Advancement in extraction and processing technologies
Chapter 4. Global Cannabis Technology Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Porter’s 5 Force Impact Analysis
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economical
4.3.3. Social
4.3.4. Technological
4.3.5. Environmental
4.3.6. Legal
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. COVID-19 Impact Analysis
4.7. Disruptive Trends
4.8. Industry Expert Perspective
4.9. Analyst Recommendation & Conclusion
Chapter 5. Global Cannabis Technology Market, by Application
5.1. Market Snapshot
5.2. Global Cannabis Technology Market by Application, Performance – Potential Analysis
5.3. Global Cannabis Technology Market Estimates & Forecasts by Application 2020-2030 (USD Billion)
5.4. Cannabis Technology Market , Sub Segment Analysis
5.4.1. Cultivation
5.4.2. Processing/Manufacturing
5.4.3. Warehousing
5.4.4. Consumption
Chapter 6. Global Cannabis Technology Market by Distribution Channel
6.1. Market Snapshot
6.2. Global Cannabis Technology Market by Distribution Channel, Performance – Potential Analysis
6.3. Global Cannabis Technology Market Estimates & Forecasts by Distribution Channel 2020-2030 (USD Billion)
6.4. Cannabis Technology Market , Sub Segment Analysis
6.4.1. Online
6.4.2. Offline
Chapter 7. Global Cannabis Technology Market by Component
7.1. Market Snapshot
7.2. Global Cannabis Technology Market by Component, Performance – Potential Analysis
7.3. Global Cannabis Technology Market Estimates & Forecasts by Component 2020-2030 (USD Billion)
7.4. Cannabis Technology Market , Sub Segment Analysis
7.4.1. Hardware
7.4.2. Software
Chapter 8. Global Cannabis Technology Market, by End Use
8.1. Market Snapshot
8.2. Global Cannabis Technology Market by End Use, Performance – Potential Analysis
8.3. Global Cannabis Technology Market Estimates & Forecasts by End Use 2020-2030 (USD Billion)
8.4. Cannabis Technology Market , Sub Segment Analysis
8.4.1. Medical
8.4.2. Recreational
8.4.3. Industrial
Chapter 9. Global Cannabis Technology Market, Regional Analysis
9.1. Top Leading Countries
9.2. Top Emerging Countries
9.3. Cannabis Technology Market , Regional Market Snapshot
9.4. North America Cannabis Technology Market
9.4.1. U.S. Cannabis Technology Market Application breakdown estimates & forecasts, 2020-2030 Distribution Channel breakdown estimates & forecasts, 2020-2030 Component breakdown estimates & forecasts, 2020-2030 End Use breakdown estimates & forecasts, 2020-2030
9.4.2. Canada Cannabis Technology Market
9.5. Europe Cannabis Technology Market Snapshot
9.5.1. U.K. Cannabis Technology Market
9.5.2. Germany Cannabis Technology Market
9.5.3. France Cannabis Technology Market
9.5.4. Spain Cannabis Technology Market
9.5.5. Italy Cannabis Technology Market
9.5.6. Rest of Europe Cannabis Technology Market
9.6. Asia-Pacific Cannabis Technology Market Snapshot
9.6.1. China Cannabis Technology Market
9.6.2. India Cannabis Technology Market
9.6.3. Japan Cannabis Technology Market
9.6.4. Australia Cannabis Technology Market
9.6.5. South Korea Cannabis Technology Market
9.6.6. Rest of Asia Pacific Cannabis Technology Market
9.7. Latin America Cannabis Technology Market Snapshot
9.7.1. Brazil Cannabis Technology Market
9.7.2. Mexico Cannabis Technology Market
9.8. Middle East & Africa Cannabis Technology Market
9.8.1. Saudi Arabia Cannabis Technology Market
9.8.2. South Africa Cannabis Technology Market
9.8.3. Rest of Middle East & Africa Cannabis Technology Market

Chapter 10. Competitive Intelligence
10.1. Key Company SWOT Analysis
10.1.1. Company 1
10.1.2. Company 2
10.1.3. Company 3
10.2. Top Market Strategies
10.3. Company Profiles
10.3.1. Ardent Life, Inc. Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
10.3.2. Demetrix, Inc.
10.3.3. Courier Plus, Inc. (Dutchie)
10.3.4. Casters Holdings LLC (Fyllo)
10.3.5. Green Thumb Industries
10.3.6. Jane Technologies, Inc.
10.3.7. LeafLink, Inc.
10.3.8. Puff Corporation (Puffco)
10.3.9. SpringBig
10.3.10. Stealth Monitoring Inc.
Chapter 11. Research Process
11.1. Research Process
11.1.1. Data Mining
11.1.2. Analysis
11.1.3. Market Estimation
11.1.4. Validation
11.1.5. Publishing
11.2. Research Attributes
11.3. Research Assumption

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
We are dedicated to clearly communicating the purpose and objectives of each research project in the final deliverables. Our process begins by identifying the specific problem or challenge our client wishes to address, and from there, we establish precise research questions that need to be answered. To gain a comprehensive understanding of the subject matter and identify the most relevant trends and best practices, we conduct an extensive review of existing literature, industry reports, case studies, and pertinent academic research.
Critical elements of methodology employed for all our studies include:
Data Collection:
To determine the appropriate methods of data collection based on the research objectives, we consider both primary and secondary sources. Primary data collection involves gathering information directly from various industry experts in core and related fields, original equipment manufacturers (OEMs), vendors, suppliers, technology developers, alliances, and organizations. These sources encompass all segments of the value chain within the specific industry. Through in-depth interviews, we engage with key industry participants, subject-matter experts, C-level executives of major market players, industry consultants, and other relevant experts. This allows us to obtain and validate critical qualitative and quantitative information while evaluating market prospects. AI and Big Data are instrumental in our primary research, providing us with powerful tools to collect, analyze, and derive insights from data efficiently. These technologies contribute to the advancement of research methodologies, enabling us to make data-driven decisions and uncover valuable findings.
In addition to primary sources, we extensively utilize secondary sources to enhance our research. These include directories, databases, journals focusing on related industries, company newsletters, and information portals such as Bloomberg, D&B Hoovers, and Factiva. These secondary sources enable us to identify and gather valuable information for our comprehensive, technical, market-oriented, and commercial study of the market. Additionally, we utilize AI algorithms to automate the collection of vast amounts of data from various sources such as surveys, social media platforms, online transactions, and web scraping. And employ Big Data technologies for storage and processing of large datasets, ensuring that no valuable information is missed during the data collection process.
Data Analysis:
Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
Insight Generation & Report Presentation:
After conducting the research, our experts analyze the findings in relation to the research objectives and the specific needs of the client. They generate valuable insights and recommendations that directly address the client’s business challenges. These insights are carefully connected to the research findings to provide a comprehensive understanding.
Next, we create a well-structured research report that effectively communicates the research findings, insights, and recommendations to the client. To enhance clarity and comprehension, we utilize visual aids such as charts, graphs, and tables. These visual elements are employed to present the data in an engaging and easily understandable format, ensuring that the information is accessible and visually appealing to the client. Our aim is to deliver a clear and concise report that conveys the research findings effectively and provides actionable recommendations to meet the client’s specific needs.

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