For one, technology is creating more effective CBD products for the CBD market, and better, more efficient products.

Wall Street experts project the CBD industry to swell to more than 22 billion dollars over the next two years. Within a decade that number is projected to exponentially grow towards 75 billion dollars.

As is with any big industry boom, everyone wants a piece of the action. Fortunately, with CBD hemp there is plenty of pie to go around. And technology plays a big role in the CBD industry from seed to shelf and beyond.

This article goes over four important aspects of the CBD industry and how technology shapes and molds the big boom of CBD oil.

Tech-Centered CBD Hemp Farming

Farming is labor-intensive process that requires lots of tedious work. It’s no wonder that tech steps in to make certain processes and tasks more efficient. Equipment and machines that speed up tasks such as potting, planting, and digging aren’t the only kinds of technology on the farm. Visit a tech-centered hemp farm and you’ll find RFID tags on plants, biometric security systems, and incredibly advanced.

Complex and sensitive instruments measure every aspect of the environment including soil, water, air, light, and more. Dehumidifiers, air conditioners, barometers, and all types of monitoring systems turn processing and drying harvested hemp flower into an exact science.

CBD Extraction Tech

Extracting the beneficial compounds from hemp flower is likely the biggest tech-influenced niche in the CBD industry. Extraction is the process of separating the unwanted waxy plant materials from the desirable hemp compounds like phytocannabinoids, terpenes, and flavonoids.

Different extraction techniques create numerous types of different CBD products (click here to learn more about Hawaiian Haze) generally referred to as extracts and concentrates. Some concentrates such as hash are readily made by hand, but thanks to advancements in extraction technology today’s extracts are much more complex and varied.

High-level extraction equipment comes with a high-level price tag. Furthermore, while some types of extraction machines are simple, the top tier processors require engineers and scientific consultants to calibrate and operate their equipment properly.

AI and AR in the CBD industry

Artificial intelligence, machine learning, and augmented reality comprise another handful of technologies molding the shape of the growing CBD industry. Farmers use AI and big data to improve soils, keep track of inventory and plants, improve workflow within facilities, and understand market trends.

On the market and advertising end, augmented reality offers businesses a fascinating approach to modeling, presentation, and retail.

AI and AR together are transforming the hemp industry into something hyper-interesting and new, shifting a once rebellious and illegal counter culture into a hipster-type health endeavor with all the bells and whistles.

Blockchain and Crypto in the Hemp Industry

While governmental policies and regulations have placed plenty of roadblocks in front of the world’s biggest boom since the internet bubble, nothing can stop what is coming. A big aspect of the CBD industry has been banking and many of the world’s biggest companies have had their fair share of issues. Here steps in blockchain technology.

Blockchain technology combined with cryptocurrency allows CBD businesses not legally permitted to operate with normal banking and financing to purchase and move money without much governmental regulation or oversight.

Niche Tech for Green CBD Industry Investors

Anyone seeking the biggest growth sectors will find immense opportunities within the various tech-centered niches shaping the CBD industry. These technologies are driving factors in this market and if you can find yourself in the right place at the right time, you may still be able to get in on the action.

Just know that the best time to get in was yesterday, so don’t hesitate.

This article originally appeared on Green Market Report and has been reposted with permission.