How Surveillance Solutions Ensure Cannabis Compliance
The legalized marijuana industry is the fastest-growing industry in the U.S. And if the trend toward legalization spreads to all 50 states, marijuana could become larger than the organic food industry. According to data by Ameri Research Inc., the global legal cannabis market was valued at $14.3 Billion in 2016 and is forecast to grow $63.5 billion by 2024. The rising demand of marijuana for recreational use and medical use is a key factor driving the growth.
The industry is also very tightly regulated, and some new cannabis operators are struggling with compliance. According to a report from the Brightfield Group, 72% of cannabis operators fail to comply with security and surveillance requirements. And with so many new businesses and operations in the market in the U.S., the field is beginning to adopt risk management best practices that are even above and beyond the myriad compliance requirements that cannabis product growers, producers and vendors must abide by.