COPPELL, Texas — IDIS, a global provider of South Korean-based video technologies, is renewing its focus on the fast growing North American cannabis industry.
The company points out that after experiencing a spike in sales at the beginning of the COVID-19 pandemic, the U.S. cannabis sector has settled back into a more even period of growth and is projected to post revenues in excess of $32 billion in 2022.
One recent report states the cannabis industry is now projected to be worth $57 billion by 2030 and is growing at a CAGR of 11%. This continued market growth, coupled with strict compliance measures that accompany all cannabis production and sales activities, make it an attractive sector for security providers.
As part of IDIS America’s success in this fast-growth sector, the company has released an updated eBook to support cannabis operators and help systems integrators understand video tech requirements in both retail and production environments to ensure compliance and increase operational efficiency.
“Our suite of NDAA-compliant, end-to-end and plug-and-play solutions continue to ensure our system integration and monitoring partners win cannabis projects by demonstrating outstanding performance and quality at a low total cost of ownership, ideal for cannabis sites of any type and scale,” comments Jason Burrows, sales director, IDIS America.
Americans Embrace Cannabis Industry
IDIS notes that currently, a total of 38 states have now legalized the medicinal use of cannabis with 19 states having legalized its recreational use. Moreover, 44% of Americans now have access to legalized recreational cannabis and, in turn, the sector is now providing more than 400,000 full-time jobs.
The security equipment manufacturer continues by saying that cannabis operators of all sizes are facing an array of evolving security and safety challenges such as shrink, cyber-attacks, money laundering, workplace injuries, varying compliance requirements, and supply chain disruptions as the cannabis industry continues to grow.
Building on its success in the sector, the IDIS America team will join a host of leading security technology providers at the 11th annual MJBizCon in Las Vegas from Nov. 16-18.
IDIS explains the show is a “one-stop shop” for the cannabis community, displaying the latest technology and sharing expert insights on a broad range of topics specific to this rapidly growing sector. At the upcoming event IDIS will be co-exhibiting with VMI.
Visitors to the companies’ booth will have the opportunity to receive a range of IDIS product demonstrations for cannabis industry, including IDIS Deep Learning Analytics which features object, line cross, loitering and unusual event detection.
The VMI team will be on hand to explain how they are supporting cannabis operators using IDIS technology to provide highly customized, yet affordable remote monitoring and virtual guarding services.
“We are looking forward to showcasing our cost-effective and reliable video technology at MJBizCon,” adds Burrows. “Our participation in this event reaffirms our commitment to this sector and to building successful partnerships with those working within it.”
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