Press release
Global Model Based Testing Market Is Growing At A CAGR Of 4.6% From 2022 To 2032: Fact.MR
Global Model Based Testing Market OutlookThe global model based testing market is estimated at USD 1,162.4 Million in 2022 and is forecast to surpass USD 1,831.1 Million by 2032, growing at a CAGR of 4.6% from 2022 to 2032.
Key Companies Profiled
Capgemini SE
Cognizant Technology Solutions Corp.
HCL Technologies Ltd.
IBM Corp.
Infosys Limited
Microsoft Corporation
Oracle Corporation
Tata Consultancy Services Limited
Wipro Ltd.
Other Market Players
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Factors Propelling Market Growth in Model Based Testing Market
Model based testing market is likely to witness a steady growth in the coming years, on the back of rise in the demand for advanced software based testing techniques along with proliferating information technology (IT) industry in various regions across the globe. Manual testing procedures are getting out-of-date as they failed to keep up with the complex structure of dependencies in system under test. Moreover, growing need to automate test design and to accelerate testing for financial service applications will continue to fuel the growth of model based testing market.
Model-based approach not only improves the construction of reliable software but also help enhance efficiency of the development process and quality of the developed product. This is considered to be a key factor driving the global expansion of model based testing market.
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Model Based Testing Market Players Eye Lucrative Opportunities in Asia Pacific
While presence of world's leading tech companies is boosting the adoption of model based testing in developed nations of North America and Europe, key players are focusing on improving their foothold in emerging economies of Asia Pacific. Strong automotive sectors along with expanding IT industry in these regions that has significantly increased the need for software testing are likely to strengthen the growth of model based testing market in Asia Pacific.
Global Model Based Testing Market by Category
By Model Type, Global Model Based Testing Market is segmented as:
Finite State Machines
State Charts
Unified Modeling Language (UML)
By Testing Type, Global Model Based Testing Market is segmented as:
Online Testing
Offline Testing
By Region, Global Model Based Testing Market is segmented as:
North America
Latin America
Europe
East Asia
South Asia & Oceania
MEA
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