Vancouver, BC -- (SBWIRE) -- 02/05/2021 -- The food safety testing system has gained added importance with the growing need for food testing due to the growing demand for packaged food. Growing chemical pollution in the food industry for the inappropriate use of techniques in the production of ready-to-eat foods will drive the market growth. The global food safety testing system market is expected to reach USD 33.78 billion by 2027 at a CAGR of 6.5%.

By technology, natural language generation (NLG) is likely to grow at significant rate in the forecast period. NLG assists computers in transforming structured data into text information in a language understandable by humans. NLG platform provides dedicated solutions for end-users such as BFSI, manufacturing, and healthcare, among others, scalable and rapidly deployable at a lower cost of implementation.

By industry vertical, BFSI, in terms of market size, held the largest hyperautomation market share in 2019. BFSI industry possesses a huge prospective for the application of hyperautomation. A few benefits offered by hyperautomation comprise marketing, sales & distribution, regulatory reporting, bank servicing, payment processing, lending operations, enterprise support, back-office operations, and others.

The hyperautomation market in North America held the second-largest hyperautomation market share in 2019 and is likely to grow at a rate of 17.6% in the forecast period. The presence of eminent RPA, AI, and ML firms in the region, a well-established IT infrastructure, and major banks, among other end-users, are causative of the growth of the market.

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The global Food Safety Testing System market has been categorized based on the product type, application, and region. Our expert analysts undertake a thorough assessment of all of the segments included in the report and analyze them based on their market share, revenue, market growth rate, and other vital factors. The segmentation allows the interested parties to determine sectors in the global Food Safety Testing System market with high growth prospects and understand the growth strategies adopted by leading segments during the forecast period.

Key participants include UiPath, SolveXia, Appian, Mitsubishi Electric Corporation, Automation Anywhere Inc., Allerin Tech Pvt. Ltd., OneGlobe LLC, Wipro Limited, Tata Consultancy Services Ltd., and Catalytic Inc., among others.

Market Drivers
The increase in the use of various chemicals in the food industry often results in the degradation of the food quality, which might lead to food poisoning and several other disorders. Thus, the demand for food safety testing system has increased with the growth in the demand for packaged foods. Moreover, rising technological advancements for better food safety analysis will boost the market growth during the forecast period. Furthermore, the growing popularity of fast service restaurants in the emerging economies coupled with a change in lifestyle of the people will further boost the market demand during the forecast period.

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Regional Analysis
Europe is projected to dominate the global market during the forecast period, owing to the growing number of food-related allergies, which has resulted in the increased dependence of the people on food safety testing, thus, boosting the market demand. The Asia Pacific region is expected to observe substantial growth during the forecast period, owing to the changing lifestyles of the people of the region.

The subject matter experts conducting the study offer a deep understanding of how prominent leaders have managed to navigate the potential buyers and competitive dynamics influencing their brand positioning in the industry The Food Safety Testing System market analysis provides everything a business owner needs in order to succeed.

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Technology Outlook (Revenue, USD Billion; 2017-2027)
Robotic Process Automation (RPA)
Artificial Intelligence (AI)
Machine Learning (ML)
Biometrics
Chatbots
Natural Language Generation (NLG)
Others

Industry Verticals Outlook (Revenue, USD Billion; 2017-2027)
BFSI
Retail
Manufacturing
Healthcare
Others

Key questions answered in the report
What will be the market size in terms of value and volume in the next five years?
Which segment is currently leading the market?
In which region will the market find its highest growth?
Which players will take the lead in the market?
What are the key drivers and restraints of the market's growth?

Research Methodology
Data triangulation and market breakdown
Research assumptions Research data including primary and secondary data
Primary data includes breakdown of primaries and key industry insights
Secondary data includes key data from secondary sources

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Table of Content
Chapter 1. Methodology & Sources
1.1. Market Definition
1.2. Research Scope
1.3. Methodology
1.4. Research Sources
1.4.1. Primary
1.4.2. Secondary
1.4.3. Paid Sources
1.5. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2019-2027
Chapter 3. Key Insights
Chapter 4. Food Safety Testing System Market Segmentation & Impact Analysis
Chapter 5. Food Safety Testing System Market By Test Insights & Trends, Revenue (USD Million), Volume (Kilo Tons)
Chapter 6. Food Safety Testing System Market By Application Insights & Trends Revenue (USD Million), Volume (Kilo Tons)
Chapter 7. Food Safety Testing System Market Regional Outlook
Chapter 8. Competitive Landscape
Continue…