The legal weed market is a boomin’.
Along with it, a burgeoning tech sector has sprouted up around the fast-growing cannabis economy.
From Colorado to Massachusetts and the more than two dozen states in between where weed has been legalized in some form, there’s a dank cornucopia of innovative tech companies and startups reimagining how the weed industry does business and engaging its swelling base of regular consumers.
North American legal marijuana sales totaled $6.7 billion in 2016 and more than $10 billion last year.
Cannabis market research firm New Frontier Data projects the industry will top 255,000 jobs by 2019 and reach $24.5 billion in sales by 2025. In that broader context, cannabis is just another kind of product, surrounded by every kind of ancillary business of which you can think, and wrapped in an ecosystem of apps, services, and software.
Budtenders and ganjapreneurs need customer relationship management and marketing automation platforms to keep track of their product catalogs, manage the books, and keep customers coming back through deals, promotions, and loyalty programs. Growers and manufacturers need seed-to-sale systems to oversee compliance and make sure every plant and product is accounted for. This only scratches the surface of all the apps and technology flooding the market.
The joyous 4/20 holiday is a ripe opportunity to highlight some of the most innovative tech companies and successful startups in the industry right now. They are tackling everything from social media and business intelligence to vaporizer tech, strain DNA mapping, and DIY growing for cannabusinesses and THC lovers alike.