In this paper by Bhaswati Sadhukhan, the background of model based testing is provided, along with an overview of why it has steadily grown over the years, and a few different ways that model based testing can be implemented.
The paper begins with the stance that model based testing has certain advantages over conventional testing; namely testing coverage increases and cost & time savings. There are also challenges, however, including the importance and need for skilled resources familiar with modeling and initial effort. Sadhukhan concludes her paper with the following summary:
In short, MBT has been used successfully on various projects, in order to get flavor out of this, one has to undergo huge up-front cost to create a test model initially but in the long run, and that can be definitely made up by the lower maintenance costs. Since the end users concentrate on high quality product with reduced test maintenance cost, thus MBT is quite promising to grow. It needs commitment from management and testers group, necessary set of unique skills & availability of supporting tools. Overall, MBT can be considered as more efficient & capable of increasing the final product quality in greater extent.
Automatic, Better Results
Model based testing allows for regression testing that is automatic, and the time savings from earlier-caught defects saves not only effort but obviously money as well (as even simple defects compound in difficulty and cost the longer they remain in a project). Read the full report here: http://ideabytes.in/case_studies/01_model_based_testing_Practices.pdf