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Home 🌿 Cannabis Technology News 🌿 Marijuana Industry To Provide Better Prospects For Technology Companies On Growing Sales 🌿Marijuana Industry To Provide Better Prospects For Technology Companies On Growing Sales
As more than 20 U.S. states have already legalized cannabis, the marijuana industry has seen a major boost, with sales rising to $5.4 billion in 2015 as compared to $4.6 billion in 2014. The data has been provided in a report released by the ArcView Group on Monday.
Recreational marijuana regularization has been a major kick for the pot industry as sales for adults using pot was $998 million for 2015 as compared to $351 million a year prior. Overall, sales for adult-use drug saw an 184% rise in just one year. For 2016, the research firm has estimated a 25% growth in sales to around $6.7 billion.
With the current boom in the industry, new businesses can mint a lot of money over the coming years. Giadha DeCarcer, Founder, and CEO of New Frontier stated that the cannabis industry was growing at a phenomenal rate as 23 states permitted...
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