hypercompetition
noun [ U ]
uk/ˌhaɪpəkɒmpəˈtɪʃən/ us ECONOMICS
a situation of extreme competition, where companies must try even harder than usual to have better products, sell more, etc.:
The telecom company is preparing for another year of “hyper-competition”, focusing not only on adding new subscribers but also on creating new services for existing users.
hypercompetitive
adjective
Hypercompetitive environments require businesses to stay flexible, innovative and creative.