Overview and Scope
Remote firmware refers to a software program that updates or manages the software controlling a device from a remote location, typically over a network connection, enabling enhancements, bug fixes, and security patches without physical access. It offers guidance to facilitate hardware initialization, establish communication with external devices, and execute fundamental input or output operations.
Sizing and Forecast
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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Segmentation & Regional Insights
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
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.
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Major Driver Impacting Market Growth
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.
Key Industry Players
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
The remote firmware market report table of contents includes:
1. Executive Summary
2. Remote Firmware Market Characteristics
3. Remote Firmware Market Trends And Strategies
4. Remote Firmware Market – Macro Economic Scenario
5. Global Remote Firmware Market Size and Growth
…
32. Global Remote Firmware Market Competitive Benchmarking
33. Global Remote Firmware Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Remote Firmware Market
35. Remote Firmware Market Future Outlook and Potential Analysis
36. Appendix
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