The remote firmware global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Remote Firmware Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The remote firmware market size has grown rapidly in recent years. It will grow from $6.47 billion in 2023 to $7.35 billion in 2024 at a compound annual growth rate (CAGR) of 13.6%. The growth in the historic period can be attributed to industrial automation requirements, advancements in communication technologies, the evolution of consumer electronics, the automotive industry relies on remote firmware, growing concerns about cybersecurity vulnerabilities.
The remote firmware market size is expected to see rapid growth in the next few years. It will grow to $12.42 billion in 2028 at a compound annual growth rate (CAGR) of 14.0%. The growth in the forecast period can be attributed to the proliferation of IoT devices across various sectors, the growing complexity of embedded systems and electronic devices, stringent regulations and compliance standards, the convenience and efficiency of over-the-air firmware updates, the increasing adoption of cloud-based services and platforms. Major trends in the forecast period include adoption of IoT devices, cloud-based management platforms, Over-the-Air updates and continuous technological advancements.
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Scope Of Remote Firmware Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Remote Firmware Market Overview
Market Drivers –
Increased demand for cloud-based services is expected to propel the growth of the remote firmware market going forward. Cloud-based services refer to services, applications, or resources that are delivered, accessed, and managed over the Internet, utilizing remote servers and computing infrastructure hosted by third-party providers, offering scalability, flexibility, and accessibility without the need for on-premises hardware or infrastructure management. The growing demand for cloud-based services is due to their scalability, flexibility, cost-efficiency, elasticity, and performance. Remote firmware management in cloud-based services enables administrators to ensure the reliability, security, and performance of hardware components and devices across the cloud infrastructure by remotely deploying firmware updates, applying security patches, and enforcing compliance policies without disrupting cloud services or customer workloads. For instance, in December 2023, according to Eurostat, a Luxembourg-based intergovernmental organization, around 45.2% of European Union enterprises purchased cloud computing services, an increase of 4.2% compared to 2021. Therefore, increased demand for cloud-based services is driving the growth of the remote firmware market.
Market Trends –
Major companies operating in the remote firmware market are focused on developing innovative products such as Access Point Firmware v2.2.22 to gain a competitive edge in the market. Access Point Firmware v2.2.22 refers to a firmware update that supports new features and updates for their Wi-Fi 6 access points, including AP130, AP330, AP332CR, AP430CR, and AP432. For instance, in January 2024, WatchGuard Technologies, a US-based company engaged in unified cybersecurity, launched Access Point Firmware v2.2.22 with new features and updates. This firmware release enhances the capabilities of the AP322, providing secure Wi-Fi coverage for outdoor environments like stadiums, schools, malls, hotels, and warehouses. Access Point Firmware v2.2.22 for the AP322 access point introduces significant enhancements and features to provide robust and secure Wi-Fi connectivity in outdoor and rugged environments.
The remote firmware market covered in this report is segmented –
1) By Type: Power Management Integrated Circuit (PMIC), Microprocessor (MPU), Microcontroller (MCU), Other Types
2) By Software: Operating System, Middleware, Other Software
3) By Application: Healthcare, Consumer Electronics, Communications, Automotive, Industrial, Other Applications
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Regional Insights –
North America was the largest region in the remote firmware market in 2023. The regions covered in the remote firmware market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the remote firmware market are Samsung Electronics Co. Ltd., Sony Group Corporation, Intel Corporation, Qualcomm Technologies Inc., Broadcom Inc., Toshiba Corporation, Texas Instruments Inc., MediaTek Inc., STMicroelectronics N.V., Infineon Technologies AG, TDK Corporation, Murata Manufacturing Co. Ltd., NXP Semiconductors N.V., Analog Devices Inc., Renesas Electronics Corporation, ON Semiconductor Corporation, Microchip Technology Inc., Marvell Technology Inc., Quectel Wireless Solutions Co. Ltd., Silicon Labs Inc., Nordic Semiconductor ASA, Semtech Corporation, Sierra Wireless S.A., Atmel Corporation, Mender
Table of Contents
1. Executive Summary
2. Remote Firmware Market Report Structure
3. Remote Firmware Market Trends And Strategies
4. Remote Firmware Market – Macro Economic Scenario
5. Remote Firmware Market Size And Growth
…..
27. Remote Firmware Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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