Glossary

Market share is the percentage of a specific market or industry that a company controls or dominates.

It's calculated by dividing the company's total sales or revenue by the total sales or revenue of the entire market. Market share is an important indicator of a company's competitiveness and success within its industry. 🏭📈

For example, if a smartphone manufacturer sells 5 million units in a market where a total of 50 million smartphones are sold, its market share would be 10% (5 million ÷ 50 million).

Fun fact: Market share can shift rapidly, especially in industries with fast-paced innovation and changing consumer preferences. For instance, in the smartphone market, companies constantly compete for market share by releasing new models with advanced features, leading to a dynamic market landscape. 📱💨