hypercompetition
noun[U]
uk/ˌhaɪpəkɒmpəˈtɪʃən/usECONOMICS
asituationofextremecompetition, wherecompaniesmusttryevenharderthanusualto havebetterproducts,sellmore, etc.:
The telecomcompanyispreparingfor anotheryearof “hyper-competition”,focusingnot only onaddingnewsubscribersbut also oncreatingnewservicesforexistingusers.
hypercompetitive
adjective
Hypercompetitiveenvironmentsrequirebusinessestostayflexible,innovativeandcreative.