Australian agriculture will need to leverage digital technologies to respond to the rising caloric demand in international markets, according to analyst firm IDC.
Its proximity to attractive Asian markets, a strong institutional framework and a positive attitude to harnessing technology have made agriculture an attractive sector for investment, IDC said.
With spending on farm operation-related technologies growing over 4 per cent annually to 2020, there is plenty of innovation in agriculture – but connectivity issues due to the geographical location of many farming properties, and challenges with scaling businesses, are also hampering moves towards technology.
However, so-called ‘third platform technologies’ such as mobility, cloud and big data could assist in increasing productivity while helping to improve the quality and quantity of produce.
“The potential for third platform technologies to improve revenue and cost outcomes for agricultural enterprises is significant,” said IDC vertical markets analyst Jaideep Thyagarajan. “This realisation by agricultural organisations, government and IT vendors is creating a swirl of engagement. Over the last year, there is strong collaboration between IT and industry expertise to create new offerings focused on IoT and effective data utilisation.”
Thyagarajan said that third platform technologies could assist in empowering agricultural workforces, reducing human error and limiting manual intervention.
