Dublin, Ireland, July 22, 2022 (GLOBE NEWSWIRE) -- Fact.MR, a market research and competitive intelligence provider, mentions that the global model based testing market is likely to record US$ 1.16 Billion in 2022 and have a CAGR of 4.6% between 2022 and 2032. The popularity of model based testing could be attributed to an ever-increasing demand for model based software testing is being increasingly applied in various verticals.

It's a known fact that digitization and technological proliferation have increased on a substantial note since the last few years. The trend is expected to continue even in the forecast period. Manual testing is thus looked upon as a cumbersome process.

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Model based testing techniques are known for reducing errors as they enable amending to the modules and do not affect the dependencies resulting out of them. This factor is bound to take the model based testing market by storm in the upcoming period.

Increasing digitization is fuelling the demand for novel software and this is expected to primarily drive demand for model-based testing (MBT) services across the forecast period.

However, the growth of the model based testing market is expected to be hampered by the complex nature of model based testing tools and complex procedures that demand the employment of highly skilled programmers which incurs high costs to organizations.

How are Start-ups Leveraging Model Based Automation Testing?

“Start-ups Focusing on Using Automation to Make Testing Process Faster”

Model based testing is faster than manual testing procedures but this can be enhanced by the integration of automation technologies and this is what new entrants and start-ups in the model based testing market are expected to focus on over the coming years.

In November 2021, Virtuoso, a U.K.-based software testing start-up, focused on developing faster software testing tools and services by integrating Robotic Process Automation (RPA) and machine learning, raised US$ 13.3 million in a Series A funding round.

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Key Segments Covered in the Model Based Testing Industry Survey

• Model Based Testing Market by Model Type :
  
  • Finite State Machines
    
  • State Charts
  • Unified Modeling Language (UML)
    
• Model Based Testing Market by Testing Type :
  
  • Online Model-based Testing
    
  • Offline Model-based Testing

• Model Based Testing Market by Region :
  
  • North America
    
  • Latin America
  • Europe
  • APAC
  • MEA
    

Competitive Landscape

The key participants leveraging on advanced technologies like ML, AI, and likewise.

• Cyient, in June 2022, did announce launching a new-fangled AI-powered framework for automated systems and software testing. Termed as CyFAST, the purpose of launching is that of accelerating the end-to-end automation across every platform and device for creating an efficient environment, so as to take care of testing projects.
• Virtuoso, since November 2021, started focusing on development of quicker software tools as well as services by integration of RPA (Robotic Process Automation) and ML. It, as such, did got US$ 13.3 Mn in a Series A funding round.

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Key players in the Model Based Testing Market

• Accenture Plc.
• Microsoft Corporation
• Capgemini SE
• Wipro Ltd.
• HCL Technologies Ltd.
• IBM Corp.
• Infosys Limited
• Oracle Corporation

Key Takeaways from Model Based Testing Market Study

• The global model based testing market is likely to reach US$ 1.82 Billion by the year 2032.
• China is expected to be worth US$ 119 Million by the year 2032.
• North America holds 28.6% of the market share.
  

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