Cannabiz Media, the company behind the award-winning Cannabis
Market Intelligence Platform, has released its sixth report
providing critical data and insights about point-of-sale (POS)
software market share in the cannabis industry. The Point-of-Sale
Software in the Cannabis Industry 2024 Report breaks down market
share and growth by location, medical versus adult use, and, for
the first time ever, social equity licenses.
GUILFORD, Conn., April 16,
2024 /PRNewswire-PRWeb/ -- Cannabiz Media, the
company behind the award-winning Cannabis Market Intelligence
Platform, has released its sixth report providing critical data and
insights about point-of-sale (POS) software market share in the
cannabis industry. The Point-of-Sale Software in the Cannabis
Industry 2024 Report breaks down market share and growth by
location, medical versus adult use, and, for the first time ever,
social equity licenses.
"The point-of-sale software market in the
cannabis industry is more concentrated than ever. The top five
providers account for a whopping 67% of the market share,
showcasing the stronghold of just a select few players."
The Cannabiz Media research team made approximately 37,000
outbound phone calls to survey U.S. and Canadian stores about their
current POS software use, ultimately surveying 6,151 stores in the
course of its research.
"The point-of-sale software market in the cannabis industry is
more concentrated than ever," says Ed
Keating, Cannabiz Media's co-founder, Chief Data Officer,
and author of this report. "The total number of U.S. providers
dropped to 71, down from 79 in the year prior. And the top five
providers account for a whopping 67% of the market share,
showcasing the stronghold of just a select few players."
In 2024, the top five POS software vendors in the U.S. cannabis
industry are 1) Dutchie, 2) BioTrack, 3) Flowhub, 4) MJ Freeway,
and 5) Magestore, who is new to the leaderboard. In the top spot,
Dutchie collectively holds 34.5% of the U.S. market share. By
comparison, in Canada Cova leads
the market upholding its 45% share, followed by Blaze/Greenline
with 25%. Only 15 providers operate in both the U.S. and
Canada.
Keating explains, "This change in rank in the U.S. from the year
prior can largely be attributed to a consolidation of data. Three
brands – Dutchie, Greenbits, and Leaflogix – were previously
reported separately but have been combined under the Dutchie name
as the parent company."
Across North America, more
retailers and dispensaries switched to a different POS software in
2024 compared to the prior report. "We found 278 U.S. license
holders switched POS software vendors, which was up from the 222
switches we tracked in 2022," shares Keating.
Cannabiz Media subscribers can dig deeper into this data by
tapping into the premium point-of-sale dashboards available in
their subscriptions. Using the POS dashboards, subscribers can
analyze POS provider market share by state, market, timeframe, and
more.
The report is also only available to Cannabiz Media subscribers.
If you are interested in subscribing and receiving a copy of the
report, email sales@cannabiz.media.
About Cannabiz Media
Cannabiz Media manages the award-winning Cannabis Market
Intelligence Platform that facilitates growth opportunities,
reveals financial insights, and safeguards compliance. It provides
an all-in-one solution that leverages rapidly-updated data,
cutting-edge technology, and a support system of experienced
strategists that drive your pursuits forward in the cannabis
industry. Cannabiz Media was established in 2014 and is celebrating
its 10th anniversary this year.
Media Contact
Alyssa Gatto, Cannabiz Media, 1
7189715609, agatto@cannabiz.media, www.cannabiz.media
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SOURCE Cannabiz Media