It is easy even for a non-programmer to understand QTP and start adding test cases.
Support for record and playback and ability to edit scripts after recording. Also different recording modes are provided in QTP viz. Normal, Analog & Low level.
Excellent Object Identification process / mechanism
Support for different addins like Java, Oracle, SAP, .NET, Web Forms, Siebel, PeopleSoft, Web services, Main frame (Terminal Emulator) etc.
Ability to let you enhance the existing tests even without the AUT (Application under test) through active screen.
Supports all popular Automation frameworks - Keyword driven testing approach, Data driven testing approach, Modular testing approach, Hybrid frameworks etc.
QTP comes with an inbuilt IDE, which is simple and easy to use.
QTP uses VBScript which is English-like and very easy to learn and gain expertise. We have plenty of resource available to learn VBScripts.
Microsoft Object model can be implanted in QTP easily (Example Word document object, Excel Object, Outlook Object, ADO objects, File system objects, DOM etc)
QTP can be integrated with Test management tools like QC (Quality Center), Test director and also functional test tools like Winrunner. The test cases can be mapped to the automation scripts and be executed from QC (Quality Center) itself. Also, it can kick off Winrunner test execution from within.
Easy to maintain different types of suites viz. Smoke, Sanity, Regression etc.
It comes with loads of inbuilt properties and methods in QTP as well as inbuilt functions in VBScripts
Support for XML.
Use of Datatables/Excel files are easier and provides a variety of methods to play around with rows and columns.
Easy to maintain test iterations and data driving the tests through configurations.
Test reporting with all necessary details for analysis is provided.
Cost is high License and maintenance.
Cannot run multiple threads/instances For example the Grid support available in Selenium, where we can run multiple instances of the application on different browsers at the same time.
Slow in execution when compared to even open source tools like Selenium.
You get support from HP only when you renew the license.
You need to buy different addins Java, Oracle, SAP, .Net, Seibel, Peoplesoft etc