Global Cannabis Retail POS Software Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Cannabis Retail POS Software Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Cannabis retail POS provides dispensaries and other cannabis retailers with the means to sell their products and remain compliant with federal and state regulations. These products contain many of the same features as retail POS software, but with added functionality designed specifically for the cannabis industry. Using cannabis retail POS software, dispensaries can collect a payment, track inventory, and maintain accurate tax records. These tools are typically used by employees, managers, and owners to complete each transaction and to perform back-office tasks. Cannabis retail POS solutions may be used in conjunction with a retail management system or accounting software to help manage the entire retail business.

Market Overview:

The latest research study on the global Cannabis Retail POS Software market finds that the global Cannabis Retail POS Software market reached a value of USD 320.5 million in 2022. It’s expected that the market will achieve USD 624.36 million by 2028, exhibiting a CAGR of 11.76% during the forecast period.

Market Constraints and Challenges

One of the main obstacles facing cannabis-related companies and their investors is financial regulation. Even in countries where licensed cannabis is nominally legal, business owners and investors still face difficulties in obtaining financial and banking support. On the one hand, this is because the cannabis industry system is very complicated. For example, in the United States, cannabis is illegal under federal law, but more and more states have completely or partially eliminated criminal offenses. This creates difficulties for financial institutions to cooperate with companies in the cannabis industry. On the other hand, the legislation on banking and finance is not enough, so many cannabis companies that meet state regulations will not be able to accept credit cards, obtain loans, open deposit accounts, write checks, write wages, or pay taxes. This has brought trouble to all companies in the cannabis industry chain, including cannabis software companies.
In May 2019, Google announced that as part of its content policy adjustments, apps in the app store are prohibited from selling cannabis and related products (regardless of whether they operate legally). Apple also banned the download of cannabis-centric social networking applications in its App Store.
The possible risks may lead to restrictions on the promotion and use of cannabis sales software, and also threaten the normal operation of software companies.

Region Overview:

From 2023-2028, North America is estimated to witness robust growth prospects.

Company Overview:

Green Bits is one of the major players operating in the Cannabis Retail POS Software market, holding a share of 42.67% in 2020.

Greenbits is a complete cannabis retail management platform. Founded in 2014, the company supports 22,000 users in 1,200 retail locations in 13 states.

Treez is an enterprise-grade, business management platform. Treez serve the vertical market from farmers to brands to retailers with their Point of Sale, Integrated Payments, Grow and Data software solutions.

Segmentation Overview:

Among different product types, Web Based segment is anticipated to contribute the largest market share in 2028.

Application Overview:

By application, the Large Enterprises segment occupied the biggest share from 2018 to 2022.

Key Companies in the global Cannabis Retail POS Software market covered in Chapter 3:

MJ Platform
Flowhub
Viridian Sciences
Proteus420
Treez
Green Bits
IndicaOnline
EntCart
Dauntless
Cova Software
BioTrackTHC

In Chapter 4 and Chapter 14.2, on the basis of types, the Cannabis Retail POS Software market from 2018 to 2029 is primarily split into:

Cloud Based
Web Based

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Cannabis Retail POS Software market from 2018 to 2029 covers:

Large Enterprises
SMEs

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)