Meaning of “market challenger” in the English Dictionary

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"market challenger" in Business English

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market challengernoun [ C ]


the company or product that is second in market share (= the number of customers or sales a company has compared with others of the same type) in a particular market:

With around 10% to 15% market share, the company is a market challenger.

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