Meaning of “hypercompetition” in the English Dictionary

"hypercompetition" in Business English

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hypercompetitionnoun [ 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

(Definition of “hypercompetition” from the Cambridge Business English Dictionary © Cambridge University Press)