A PRECISION FARMING SYSTEM FOR CANNABIS FARMS
VERIFITY develops an innovative system for agriculture farms, aimed at the cannabis market, based multi-level network feedback.
Our system enables the farmer to collect real time data from the field and from its customers. In this way VERIFITY assists the farmer in increasing yields, creating a quality brand name that corresponds to regulations and significant increasing of profits.
Expected trends in the global legal cannabis market
According to an article published in Forbes magazine on 7.11.17, in three to four years the legal cannabis market will be worth $ 31.4 billion, following the implementation of reforms around the world.
This is a sharp increase compared to the current market value of 2017, estimated at only $ 7.7 billion.
In another article published in Forbes on 1.3.18, it is claimed that by 2027 the global cannabis market will be $ 57 billion. This remarkable figure, which marks an annual growth rate of 60 percent, is reported in a new report by the market research firm Brightfield Group
In all the surveys published in the past two months, this trend is becoming more and more established.
The United States, which now controls most of the legal market (about 70%), will lose some of it to Canada and Europe, Africa and South America, but will still hold a significant share of the market (about 57%).
Canada has positioned itself as a leader in cannabis both for leisure and for the medical field. The Canadian Stock Exchange expresses confidence in the cannabis market and in recent months it is possible to see a growing trend of investments in this area.
Canadian cannabis companies are expected to become leaders in the export of cannabis abroad, with Canada's legal cannabis market expected to reach $ 5.7 billion by 2021 - almost half the value of the US cannabis market.
Together, the US and Canada will account for more than 86% of cannabis sales in the next four years.
Europe, too, is not left behind and Europe's medical cannabis markets, led by Germany, Italy, the Netherlands, Spain and Switzerland, will hold 12% of the world market.
Germany is expected to be the market leader followed by Italy following changes in legislation (estimated market size will be $ 1.2 billion).
South American countries - this market is also expected to grow significantly in the coming years (from 125 million dollars to 776 million dollars in the next ten years).
Israel, already considered the leading research and development arm of Cannabis, will continue to lead the market in these areas.
It should be noted that in recent months there has been significant progress in legal cannabis regulation in the countries of Peru, Greece, Poland, Lesotho (South Africa) and others.
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