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3 IoT Opportunities in the Cannabis Industry

Added to IoTplaybook or last updated on: 09/27/2018

IDC recently projected that global spending on IoT technology will hit $1.2 trillion in 2022. And by some estimates, spending on legal marijuana in North America will hit $47.3 billion by 2027. What do those two figures have in common? Maybe you, capitalizing on the IoT opportunity in the cannabis industry. Today, marijuana is legal for recreational use in 10 states, plus the District of Colombia. And there are another 22 states and territories like Puerto Rico that have legalized cannabis use for medical purposes.

Luis Alvarez, president and CEO of Alvarez Technology Group, an MSP in Salinas, Calif., has identified three areas where MSPs can get in on the action. He has been working with cannabis companies in his home state to develop the infrastructure they need to meet regulatory requirements “from seed to sale,” Alvarez says, “and that requires a lot of technology and a lot of IoT devices to monitor the entire supply chain from beginning to end.”

Here are three solutions Alvarez is offering his clients.