Technology Advancements Helping Cannabis Cultivation Operations To Run More Efficiently
Financialnewsmedia.com News Commentary
PALM BEACH, Fla., April 20, 2021 /PRNewswire/ -- The demand for hemp is rapidly growing, as many developed countries have legalized the cultivation and processing of hemp after recognizing the levels of CBD present in it, which is leading to an increased demand for hemp extracts for various application in several sectors, including pharmaceuticals, cosmetics, nutraceuticals, and food & beverage. Hemp is regarded as an agricultural commodity produced in over 40 countries. It is a strain of cannabis Sativa, part of the genus cannabis, with THC content as low as 0.3%. Countries such as China, Canada, France, Chile, South Korea, Ecuador, Croatia, Czech Republic, Mongolia, Romania, and Russia are some of the major producers of hemp across the world. A report from Grand View Research said that the global cannabis cultivation market size was valued at USD $123.9 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 14.3% from 2020 to 2027. Active Companies from around the market with current developments this week include: Sundial Growers Inc. (NASDAQ: SNDL), Epazz, Inc. (OTCPK: EPAZ), Tilray, Inc. (NASDAQ: TLRY), Aphria Inc. (NASDAQ: APHA) (TSX: APHA), Medical Marijuana, Inc. (OTCPK: MJNA).
The Grand View Research report added that: "Growing legalization and the adoption of cannabis for the treatment of chronic diseases are the key factors driving the growth of the market. In addition, the liberalization of laws related to cannabis cultivation, especially for hemp cultivation by various countries due to low THC content is further increasing its adoption. Furthermore, the legalization of marijuana in various geographies and its increasing adoption for medical purposes are factors driving the market for cannabis cultivation… Moreover, the high demand for medical cannabis has led to a bottleneck in the supply chains in various countries. This is primarily due to a significant increase in demand and the cultivation restriction in various countries."
Epazz, Inc. (OTC Pink: EPAZ) MARKET NEWS: Epazz Holdings: ZenaTech, Inc., Had a Successful Autonomous Flight Test of Its Patent-Pending Drone Mobile App; GreenHeart Hemp CBD to Be First Customer to Use ZenaDrone on a Regular Basis for Its Hemp Farms - Epazz, a leading provider of drone technology, blockchain mobile apps and cloud-based business software solutions, has announced that its holdings, ZenaTech, Inc., has completed a successful autonomous flight of its patent-pending drone using the company's drone software, which will be released to the Apple Store and the Google Play Store this summer. To view the video of autonomous flight test, click here: https://www.youtube.com/watch?v=sXt9fRFOZWQ.