Cannabiz Media’s analysis group has accomplished its third consecutive yr of main and secondary analysis monitoring level of sale software program market share in the hashish trade.
The 2020 Point of Sale Software in the Cannabis Industry report is now accessible without cost obtain right here.
As in earlier level of sale (POS) software program analysis, Cannabiz Media used a comfort sampling technique to gather 2020 information from 2,146 of the 7,081 lively dispensaries and retailers nationwide, which we estimate to symbolize 34% of the market.
In whole, Cannabiz Media positioned 14,232 telephone calls to survey dispensaries and retailers throughout the nation. Additionally, e-mail questionnaires had been despatched to assemble supplemental information.
The 2020 Point of Sale Software in the Cannabis Industry report gives all of the detailed findings from the complete analysis effort. Cannabiz Media will proceed its analysis and replace POS information accessible in the enhanced information characteristic inside the Cannabiz Media License Database.
Key Findings for 2020
After a big leap in vendor rely in 2019, the quantity of level of sale software program distributors in the hashish trade remained flat in 2020. There are nonetheless 68 distinctive level of sale distributors offering software program utilized by license holders in the United States as reported by the lively license holders we surveyed.
However, some of the gamers have modified. For instance, 13 new POS distributors entered the market whereas 13 others left the market.
Top 5 Point of Sale Software Vendors
In 2019, the prime 5 POS distributors accounted for 68% of the general market. In 2020, that proportion dropped to 66%.
Green Bits has climbed to the prime of the market share leaderboard transferring from second place in 2019 behind BioTrack to first place in 2020. BioTrack slipped to second place whereas Flowhub, MJ Freeway, and Indica Online ranked third, fourth, and fifth, respectively, in each 2019 and 2020.
- Green Bits: 21%
- BioTrack: 20%
- Flowhub: 11%
- MJ Freeway: 9%
- Indica Online: 5%
The prime 10 POS distributors have misplaced collective market share to smaller gamers over the previous yr. In 2019, the prime 10 distributors accounted for 84% of the market (down from 93% in 2018), however in 2020, the prime 10 distributors accounted for 80% of the market.
Top Three POS Vendors in Medical-Only vs. Adult-Use States
Another attention-grabbing discovering the analysis uncovered is the distinction in market share between medical-only states and adult-use states. In medical-only states, BioTrack is the market share chief (21.1%) adopted by MJ Freeway (18.2%), and Indica Online (8.5%).
Looking at adult-use states, Green Bits is the market share chief with 29.5% of the market in 2020 (up from 28% in 2019) adopted by BioTrack (19.5%; down from 20.8% in 2019), and Flowhub (13.3%).
POS Vendor Switching in 2020
This yr, Cannabiz Media started to trace which license holders switched their POS distributors since the prior yr. While we will’t remark as as to if or not the modifications are optimistic or unfavourable from earlier years, we do assume it’s attention-grabbing to see which distributors gained and misplaced in addition to the states the place switching occurred.
All of this info is printed in element in the white paper report primarily based on which states had vendor switching and which POS distributors gained and misplaced clients. For instance, the highest quantity of license holders switched to Green Bits (21), however 15 license holders switched away from Green Bits bringing a web achieve from switching of six.
The largest web achieve in clients from switching occurred for Leaflogix. In whole 13 license holders switched to LeafLogix and three switched away from Leaflogix for a web achieve of 10 clients. On the different hand, the highest quantity of license holders who participated in our research switched away from BioTrack (29) whereas no license holders reported switching to BioTrack.
Learn More in the Full White Paper
Download the full Point of Sale Software in the Cannabis Industry: 2020 Report to get all of the information and insights, together with:
- The full checklist of all 68 level of sale distributors in use by lively dispensary and retailer license holders in the U.S. hashish trade
- Overall market share particulars
- Medical-only state market share particulars
- Adult-use state market share particulars
- 2018-2019 market share modifications for key distributors
- Key market information for Oklahoma, California, and Michigan
- Software switching information by vendor and state
- Inactive license information by state and vendor
- Data charts and tables
If you could have any questions on the white paper, level of sale software program vendor information, or hashish license holder information, contact the Cannabiz Media Team.
And don’t overlook that every one of the information in this report (and far more) is accessible to subscribers in the Cannabiz Media License Database. Schedule a free demo to see it in motion.
Ed Keating is a co-founder and Chief Data Officer of Cannabiz Media and oversees our information analysis and authorities relations efforts. He has spent his complete profession working with and advising info corporations in the compliance area. Ed has overseen complicated multijurisdictional product strains in the securities, company, UCC, security, environmental and human useful resource markets and focuses on workflow merchandise over the final twenty 5 years. During that point he has labored for each startup and established info corporations the place he has led advertising and marketing, product administration and gross sales organizations. These corporations embody Wolters Kluwer/Commerce Clearing House, CT Corporation, EDGAR Online and Business & Legal Reports. At Cannabiz Media Ed enjoys the problem of working with regulators throughout the globe as he and his group collect company, monetary, and license info to trace the individuals, merchandise and companies in the hashish economic system. Ed graduated from Hamilton College and obtained his MBA from the Kellogg School at Northwestern University.