HMS Networks conducts an annual analysis of the industrial network market to estimate the distribution of new connected nodes in factory automation.

The current study predicts a 7% growth in the industrial network market in 2023. Industrial Ethernet continues to witness the highest growth, accounting for 68% of all new installed nodes, up from 66% last year. Fieldbuses, on the other hand, are declining, with only 24% market share as compared to 27% last year. Wireless industrial networking solutions are gaining popularity, with 7% market share, up from 8% last year. PROFINET and EtherNet/IP share the first rank in the network rankings with 18% market share each, followed by EtherCAT with 12% market share. Fieldbuses are experiencing a decline again, with new fieldbus installations declining by 5% in 2023. PROFIBUS leads the fieldbus rankings with 6% market share, but Modbus-RTU is a close second at 5%. Despite the declining trend, fieldbuses still account for 24% of the market in 2023, as many devices, machines, and factories still rely on them for their operations. 

Wireless industrial networking solutions are gaining popularity, with a growth rate of 22% in 2023. They are being used for cable replacement applications, wireless machine access, and connectivity to mobile industrial equipment. Quality, security, safety, and gaining insights through device and machine data are key drivers for the expansion of industrial networking.

Regional variations exist in the market, with EtherNet/IP, PROFINET, and EtherCAT leading in Europe and the Middle East, while the US market is dominated by EtherNet/IP, with EtherCAT gaining market share. In Asia, the fragmented market is led by PROFINET, followed by EtherNet/IP, CC-Link/CC-Link IE Field, EtherCAT, PROFIBUS, and Modbus (RTU/TCP).