As software testing evolves, model based testing has become an integral part of modern test automation in which test cases are derived from model describing the functional aspects of the system under test. In the recent years, model based testing has been gaining pace in various technical organizations, for its ability to detect memory leaks and conflicts that could otherwise cause a software to crash. In addition, model based testing is capable to execute different tests on multiple machines and has been proven to be a time-saving and quality testing approach. Rising demand and sales of software products is likely to have a significant influence on the growth of model based testing market.