New Research

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Blockchain and Agriculture

Mar-23 DOC # US49242022 Insight

Authors:

• Phillip Silitschanu

This IDC Perspective examines the rapidly developing use of blockchain (and related technology such as cryptocurrency and NFTs) in the agricultural industry. Providing numerous examples of current and near-future applications of blockchain in agricultural insurance, carbon credits and ESG, food traceability, and more.

"Agriculture has several challenges when it comes to trust, traceability, and transactional efficiency. At the base of many of these problems are the issues around information storage, integrity, and sharing," notes Phillip Silitschanu, research director, IDC Financial Insights. "Due to the exceptional decentralization and security features of blockchain technologies, players in the agriculture supply network have been keen to incorporate this technology into agriculture-specific applications."

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IDC’s 2022 Worldwide Agriculture Survey: Precision Agriculture Technology Benefits, Barriers, and Investments Breakdown

Sep-22 DOC # CA49614122 Presentation

Authors:

• Aron Cory, Ph.D.

This IDC Survey looks at the differences in revenue, technology investment, perceived benefits, and barriers across regions, company sizes, and a cross section of industries. The findings are excerpts from IDC's 2022 Worldwide Agriculture Survey, which polled 200 respondents from North America, Western Europe, and Asia/Pacific. Regional and production type differences were seen to influence several factors including annual revenue, level of automation technology investments, and perceived barrier or benefits of precision agriculture technology adoption. Precision agriculture is the incorporation of sensors, IoT, data analytics, and communications technologies for better precision, efficient resource management, and planning.

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IDC's Worldwide Digital Transformation Use Case Taxonomy, 2022: Precision Agriculture

Jul-22 DOC # CA49300122 Study

Authors:

• Aron Cory, Ph.D.

This IDC study provides an update on some of the most prominent use cases being adopted in the precision agriculture space. IDC has created a use case taxonomy for the digital transformation of multiple industry segments. The taxonomy follows a hierarchical structure that begins with the digital mission of that industry, then the strategic priorities that support that mission, the programs that will be initiated to satisfy the priorities, and the funded projects or use cases that will be implemented under these programs. The taxonomy not only forms the basis for our market forecasts but also provides the framework for the digital journey maps that will assist our clients in understanding the full scope of enterprise efforts.

"Agriculture is currently undergoing a fourth revolution. Agriculture 4.0 will use data to revolutionize how we produce, process, and consume food. Using data to do more with less, create new digital commodities, protect the environment, and efficiently feed the world with greater efficiency and nutrition than ever before. The pace of technological change in agriculture is greater than ever before is increasing. As with any revolution, there will be winners and losers, those that can separate hype from facts will be well positioned," says Dr. Aron Cory, research manager, Worldwide Agriculture at IDC.

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Waste Not, Want Not: Maximizing Agricultural Value with IoT from Grain Bin to Kitchen Bin

Jun-22 DOC # US49249722 Insight

Authors:

• Marcia Walker
• Aron Cory, Ph.D.

This IDC Perspective provides guidance on immediate actions agricultural concerns can take with IoT to address food loss and waste. The need to do so grows more critical by the day as diverse geopolitical and economic pressures threaten the world's food supply.

"Organizations are eager to act now to address what the UN projects to be the largest global food crisis since World War II," says Marcia Walker, director, Internet of Things Research at IDC. "Fortunately for farmers and others across the agricultural value chain, today's broad-based cloud and as-a-service business models make it easier than ever to start small while building a solid foundation for future use cases."

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Agriculture Recognizes Digital Technology as Critical But Lags in Leadership

Sep-22 DOC # CA49628522 Presentation

Authors:

• Aron Cory, Ph.D.

This IDC Survey Spotlight examines agriculture industry information from IDC's 2022 Future of Operations Survey (n = 1,372), which indicates fertile ground for growth. Compared with all other industries, agriculture is the most likely to recognize the gains from adopting digital technologies but rarely sees itself as a technology leader. This disconnect points to a challenge for the agricultural industry with respect to future progress and suggests a need to build strong partnerships with the right technology providers. Our analysis also points to specific pain points within agriculture when it comes to digital technologies.

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IDC TechBrief: Carbon Credit Programs in Agriculture

Jul-22 DOC # CA49359021 Insight

Authors:

• Aron Cory, Ph.D.

This IDC TechBrief reviews at a high level the potential, the pitfalls, and the critical factors for success that should be considered when entering this market. Carbon offset programs are an emerging market that directly commodifies on farm data. Data collection around farming practices can be used to prove additionality and support claims of carbon sequestration in soil organic matter and nitrogen use efficiency (NUE) or avoidance, which can be monetized through carbon offsets.

"The development of carbon offset markets in agriculture will be a powerful tool for farmers, industry, and environmentalists. Directly commodifying on farm data in this way will encourage greater reporting, highlight the good work farmers are doing in sustainable agriculture, and encourage new data product development while helping the environment, increasing food production and building an economically sustainable future for farmers," says Dr. Aron Cory, research manager for Agriculture with IDC.