Home » Blog » Cannabis Market Expected to Dramatically Grow in the Next 10 Years

Cannabis Market Expected to Dramatically Grow in the Next 10 Years

Posted by David Charney on Dec 17, 2018

The marijuana industry is growing like, you guessed it, a
weed. While it remains illegal in the U.S. at a federal level, more states are
legalizing it for widespread use. It’s becoming a true vertical that is
attracting investments and new technologies.

According to research firms, the legal cannabis industry is expected to grow
dramatically in the next year. The largest area of legal consumption of
cannabis products will be in North America. Canada, for example, legalized
marijuana in 2018, making it only the second country in the world to do so. In
2017, there were $9.2 billion legal consumers of marijuana in North America but
by 2027, experts predict there will be roughly $47.3 billion users.

As the cannabis industry landscape changes dramatically in
the United States and Canada, so, too will the perception of the general public,
especially when it comes to the actual dispensary. While some facilities in
California may resemble “head shops” of years past, today’s dispensaries are
targeting more upscale consumers. Some shops even look like high-end boutiques.

Whatever design and aesthetic a cannabis facility adopts, it
will need to incorporate a security solution. State and local governments have
different security requirements, but the consensus is the same. Cannabis
facilities, shops and growing areas must utilize private security personnel and
surveillance video. Although a security guard service is very common, it
isn’t always the most effective solution. In one incident, thieves subdued an armed security guard at a California cannabis shop.
The property did have surveillance cameras, but nobody was watching the video
feed. The suspects left the cannabis dispensary with inventory, cash, cell
phones and the security guard’s gun.

Live video surveillance is a proactive alternative. Trained
security operators remotely watch a property with indoor and outdoor security
cameras. If they see something suspicious, they can call the local police and often
stop the crime in progress.

In addition to live video monitoring, our proactive solution
offers many other value-added solutions. Among them are mobile and solar
monitoring surveillance for facilities in remote locations with limited power
sources; gate and access control to help manage activity on your property and
reduce the risk of unauthorized access to crucial areas; long-range
surveillance and thermal cameras to better monitor perimeters and large outdoor
areas; and video review and analysis to help verify your business remains in
compliance with your state’s regulations. Our entire solution can help protect
your inventory and other valuable assets.

The cannabis industry is expected to change and grow
dramatically in the next 10 years. As it becomes more widely accepted, the
opportunities and risks will also grow.

If you would like to learn more about our customized
proactive security solution for cannabis dispensaries and growers, contact us
here.