By Ross D. - 4/20/21

The cannabis industry is thriving. Market trends indicate that the global cannabis industry may reach $73.6 billion in revenue by the end of 2027. Given the health benefits of cannabis, it’s no wonder that its revenue can reach such numbers. The cannabis industry constitutes several products apart from medical marijuana, like, edibles and whatnot. These may help users alleviate various health conditions like anxiety, stress, and chronic pain.

The cannabis industry has been undergoing several changes since its inception. A lot has changed over the years, and technology has played a vital role in improving the cannabis industry. For instance, buying weed online could have been a distant dream if it weren’t for technological advancement. Not just delivery, but quality, cultivation, and the entire e-commerce sector of the cannabis industry are changing with technology. Let’s discuss in detail how technology is changing the environment in the cannabis industry.

1. Cultivation

Technology massively impacts the cultivation of cannabis plants. Growers can quickly grow cannabis plants discreetly at their homes since all the types of equipment are accessible. Moreover, with advanced growing and cross-breeding techniques, cultivating new strains of cannabis is possible. Cannabis plants require a certain amount of heat and light to grow better. Growers belonging to tropical and hot climates need not worry about this, but growing cannabis in cold climates is challenging.  

It is vital to know that growers can use simple LED bulbs to overcome this problem and provide adequate heat and light to their cannabis plants during the growing process.

Depending on the type of growing cannabis different lights are used. In traditional soil-based cannabis cultivation, growers often use high-pressure sodium (HPS) lamps or compact fluorescent lights (CFLs), which are effective but can be energy-intensive. On the other hand, vertical cannabis farming, which prioritizes space efficiency and energy conservation, increasingly adopts LED lights for growing plants, that provide targeted light spectra, ensuring optimal plant growth with lower energy consumption and heat output, perfectly suiting the compact, layered arrangement of vertical farms.

The availability of many such growing pieces of equipment makes way for new growers and new cannabis strains. Advancement in the field of genetics and breeding is also contributing to the improvement of the cannabis industry. 

2. E-commerce and Retail

The retail and e-commerce sector of the cannabis industry is also booming, thanks to technology. Receiving a fast and secure delivery of food, groceries, and electrical appliances have become prevalent. The same goes for cannabis products now. Many cannabis companies are also offering online delivery services to their customers through websites and mobile applications. 

Some companies are even introducing augmented reality, where interacting with a budtender about the various cannabis strains is simple for customers. That means no more trips to the weed dispensary to find out more about a cannabis strain before purchasing it. The financial aspect of the e-commerce and retail cannabis industry is benefitting from technologies like blockchain and cryptocurrency. Cannabis entrepreneurs are no longer dependent on traditional banking and finance systems. They provide the customer with an option of paying through cryptocurrency like Bitcoin.

3. Customized consumption and personalized products

The variety of cannabis products ranging from vaping devices to cannabis edibles and topicals is endless. Users can choose the products according to their convenience and requirements. Moreover, as technology bridges the gap between genetics and cannabis, creating personalized cannabis products according to a person’s genetics can also be possible in the future. Personalized consumption and products will further boost the cannabis industry since more people will use medical marijuana and other products, knowing that it is tailor-made for their body type. 

With advanced technology, finding out which cannabis strain is suitable for the user can become extremely simple. It is vital to introduce personalized cannabis products and cannabis strains for users because cannabis affects everyone differently. There is no one-size-fits-all in terms of potency and dosage when it comes to cannabis.

4. Quality Control Software

Another area of the cannabis industry that technology affects is quality control. Growing cannabis or manufacturing other cannabis products is a complicated process. There are several stages that manufacturers must follow. However, testing the substance’s purity and quality at each step is crucial to ensure that the final product is of high quality. Technology has paved the way for several quality control programs. Those allow growers and manufacturers to assess and document the quality of the cannabis products at each level. 

Doing so will enable the manufacturing companies to maintain transparency with their consumers regarding quality standards. The documented information about the quality of cannabis will further help customers decide better among various brands and companies.

5. Better bioavailability of CBD products

CBD products also play a vital role in generating revenue for the cannabis industry. Moreover, the supplement has made its way into the beauty and wellness industry as well. The main reason people consume CBD is its healing benefits. However, the bioavailability of CBD is usually lower. Bioavailability refers to the level of the substance that gets absorbed into the bloodstream. Since most users prefer CBD consumption through ingestion, most of the dose does not mix with the bloodstream.

So increasing the bioavailability of CBD is possible using nanotechnology or nanoencapsulation. It is a process where companies shrink CBD molecules to extremely tiny or nano size. Doing so will keep them together, increasing their bioavailability. Nanotechnology can help users achieve better results from CBD pills with better bioavailability.

Final Thoughts

Technology and the cannabis industry are in for a magical ride. From operations to management and administration, cannabis companies are benefiting through technological advancements. The increase in smartphone, tablets, and internet usage has also made it easy for cannabis companies to advertise and promote their products to the target audiences. It is not only beneficial for the makers but also the consumers. With better access to resources and information than ever, cannabis users can thoroughly research the quality standards of the products before use.

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