Every year, HMS Networks conducts a comprehensive analysis of the industrial networking market, aiming to estimate the distribution of new connected nodes by type and protocol in factory automation. The latest research shows that the industrial networking market continues to expand and is expected to grow by 7% in 2024. Notably, industrial Ethernet continues to dominate, accounting for 71% of all newly installed nodes (up from 68% last year).

At the same time, fieldbus dropped from 24 percent to 22 percent, and wireless technology dropped slightly from 8 percent to 7 percent. Among the top contenders, PROFINET accounts for 23% of newly installed nodes, followed by EtherNet/IP at 21% and EtherCAT currently at 16%.

2024

IS420UCSCS2A Industrial Network Market Share Forecast [1]

This report is HMS Networks’ annual analysis of the industrial networking market, focusing on newly installed nodes in global factory automation. As an independent provider of industrial ICT (Information and communication technology) solutions, HMS has a deep insight into the industrial networking market. The 2024 study includes estimated market shares and growth rates for fieldbus, industrial Ethernet, and wireless technologies.

IS420UCSCS2A

The 2024 study shows that the industrial networking market continues to grow, with total market growth expected to reach 7% in 2024, which shows the importance of network connectivity to factories.

IS420UCSCS2A With the advantage of millions of installed nodes under the Anybus® brand, HMS has been publishing an exclusive report on industrial network communications every year since 2012 to provide insight and outlook on the industrial automation industry.

Market share interpretation

Industrial Ethernet is growing steadily

Industrial Ethernet grew by 12%, accelerating growth and continuing to take some market share. Industrial Ethernet now accounts for 71% of the global factory automation newly installed node market (up from 68% last year). PROFINET is the protocol with the number one market share (23%), surpassing EtherNet/IP (21%). EtherCAT is still very popular and is now firmly in third place with a 16% market share.