Cannabiz Media Releases Mid-Year 2018 Point of Sale Software in the Cannabis Industry Report
GUILFORD, Conn., July 25, 2019 /PRNewswire-PRWeb/ -- Cannabiz Media, the company behind the only verified cannabis industry CRM - the Cannabiz Media License Database - released "Point of Sale Software in the Cannabis Industry - Mid-Year 2019 Report" analyzing the market shares of point of sale (POS) software platforms used by cannabis dispensaries and retailers across the United States. The free report is available for download here: https://cannabiz.media/pos-report-2/.
The mid-year 2019 report is a follow-up to Cannabiz Media's 2018 report and shows a number of significant changes in POS software usage in the cannabis industry, including the entry of additional vendors into an already crowded space.
"At the end of 2018, five POS vendors accounted for 80% of the cannabis market," shares Ed Keating, Co-founder and Chief Data Officer for Cannabiz Media. "Today, the top five point of sale vendors account for only 68% of the market. This is why states like Oklahoma with over one thousand dispensaries will be hard fought by the leaders and laggards.
The top five POS vendors in the cannabis industry in mid-2019 according to the report are: 1) BioTrack; 2) Green Bits; 3) Flowhub; 4) MJ Freeway; 4) Indica Online; and 5) Adilas.
In total, Cannabiz Media identified 68 unique point of sale platforms being used by cannabis dispensaries and retailers in the United States in mid-2019, which is a 58% increase from year-end 2018. The mix includes proprietary platforms built by the companies using them, cannabis industry-specific platforms, and brand name platforms such as NCR, NetSuite, Square, Salesforce, and QuickBooks.
Changes are also happening at the state level. In California, the market share leaders have changed and the total number of point of sale vendors increased by 55% from 18 to 28 with 11 of those vendors only serving the California market. Overall market share in California is more fragmented with the top five accounting for 58% of the market. In Oklahoma, there are 28 POS providers, but the top five account for 65% of the market.
"The POS market remains highly concentrated since our first report at the end of 2018," explains Keating. "While the top five vendors account for 68% of the cannabis industry market, the remaining 32% is split among 63 vendors. However, we're starting to see some consolidation in the POS space with Dauntless joining with Soro Software and GrowFlow acquiring LeafOps."
The full report provides detailed data on overall market share as well as market share in California, Oklahoma, METRC states, medical-only states, and adult-use states. In addition, 2019 versus 2018 comparisons and the full list of 68 POS vendors operating in the cannabis space in mid-2019 are included in the report.
Cannabiz Media will continue to leverage its four-step process to gather and verify license data and will continue to share updates in the future through its "Point of Sale Software in the Cannabis Industry" report.
Download the free report here: https://cannabiz.media/pos-report-2/.
About Cannabiz Media LLC
Cannabiz Media, through its Cannabiz Media License Database, is the leading CRM and lead database for the cannabis industry. The platform contains verified information on over 43,000 licensed cannabis and 12,000 licensed hemp operations operating in all areas of the supply chain and located across the United States, Canada, and many international markets. Led by a team of content, data, and technical experts, the Cannabiz Media License Database unites lead generation with the functionality of a user-friendly CRM for businesses, cannabis industry stakeholders, and investors who need reliable information to connect with license holders and make critical business, regulatory, and reporting decisions. For more information, visit http://www.cannabiz.media.
SOURCE Cannabiz Media
