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Cannabis: Growing Acceptance of Cannabis Products

The medicinal and recreational cannabis industries are growing at rapid pace, and is expected to witness tremendous growth by 2025. Growing acceptance of cannabis is driving the industry and is accelerating growth in drug development and medicine as well as regulatory guidance. The cannabis industry is witnessing rapid growth owing to higher sales. The cannabis consumer demographic is growing ever more diverse. The average cannabis consumer is now middle-aged, with more women and seniors consuming weed in its various forms. This means that the market is growing and demand within the market is shifting to alternative products. Also different cannabis products are gaining importance and are achieving a substantial market share. Vapes are one of the hottest cannabis products in 2019. According to BDA Analytics, in the first quarter of 2018, vape sales grew 69 percent total. CBD vape sales alone rose 105 percent over the same period. Furthermore, edibles of either THC or CBD variety are also gaining popularity across all legal states. Moreover consumers and investors are also focusing on infused beverages. Big investors such as, Anheiser Bush and Coca Cola have entered into talks to develop and invest in infused beverages.

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The United States is anticipated to be the main driving force of growth of use of medical cannabis. 30 states of the United States of America have legalized the use of cannabis. These 30 states comprises of 60% of total population and have approved use of medical marijuana. This has become the driving force for the growth of cannabis testing marked in the entire North America region. Currently more than 8000 active licenses for cannabis businesses in USA. It is the only country with such number of market players. Europe is another region which has shown a decent growth rate for cannabis testing market.

There has been an increase in the process of legalization of cannabis in European countries. In November 2018, Government of UK announced that medicinal cannabis is legal. The main force for growth in demand of cannabis is because of the use of cannabis in pesticides in Europe. Growing number of cannabis testing laboratories have fuelled the demand for cannabis in the Europe region.  

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New Innovation & Perception in Space Robotics industry

Space robotics are the machines that are capable of surviving in the space environment and perform their tasks. Many space missions are suited to the robotics system rather than crewed operation, hence rising demand for the space robotics market. Increasing space innovation across the globe, also growing investment by the government in space missions, is increasing demand for the space robotics market.

Space robotics are generally doing multiple tasks such as inspection, deployment, maintenance, retrieval, exploration, and among others. Additionally, it is operating for a long time, less risky, and cost-effective owing to that the use of space robotics increases that create demand for the space robotics market. As the issue of mobility, time delay, manipulation, and also its high manufacturing cost, this factor is hampering the growth of the market. Increasing activity of satellite servicing, on-orbit assembly, de-orbiting service, also expanding the use of rovers, spacecraft, manipulator, and others demand the space robotics market.

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The major utilization of space robots in deep space, near space, and ground creates a lucrative opportunity for the market player of the space robotics market.

Increasing demand regarding satellite servicing, huge investments in the space exploratory activities, demand for on orbit assembly, and debris removal are among the major factors driving the demand for the global space robotics market. Innovative utilization of space robots in ground, deep space, and around the space from commercial and government sectors is foreseen to propel the growth rate in the span of coming years.

The major utilization of space robots is in space transportation, space 3D-printing, space inspection and maintenance, and space exploration applications, anticipated to bolster the demand in global space robotics market in forthcoming years.

Leading companies operating in this research are: Altius Space Machines, Astrobotic Technology, Effective Space Solutions Limited, Honeybee Robotics, Ispace, Made In Space, Maxar Technologies, Metecs, Motiv Space Systems, Northrop Grumman.

Source: The Insight Partners