A system and method for providing firmware update for network connected storage subsystem components is disclosed. In one embodiment, the storage system is registered via a secured process using a client management module of a firmware update management module residing in a client device associated with the storage system. The storage system includes a plurality of storage subsystems. Further, an inventory list including each storage subsystem component in each of the plurality of storage subsystems along with its associated firmware code level is formed by the client management module. Furthermore, the inventory list along with an associated firmware code level of the storage system is stored by a registration management module of the firmware update management module residing in a registration server coupled to the client device via the network.