There are such programs, but I haven't had a lot of good results with them. While it would be nice to totally automate this process the reality is that you are best off knowing all the applications that might need driver updates, and get them directly from the vendor websites. This can be a hassle, too, especially if the bit of kit you want to update is getting old.
What I have done in the past is use a program like
Driver Max which does automatically search for the drivers, but to then not download any. It's a good program, but some of the downloads offered are not from vendor sites, and some don't install correctly or work. (Learned this the "interesting" way.) Some of them did install and work OK, though.
What the trick is, is to view the list of (allegedly) out of date drivers on the results, then visit the vendor site for each of those applications and browse for driver updates manually.
Do make sure you set a restore point, or take some other kind of backup before installing these. Often they install without hassle. Sometimes they don't.