Meaning of the word "market share" in English

What does "market share" mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

market share

US /ˈmɑːr.kɪt ˌʃer/
UK /ˈmɑː.kɪt ʃeər/
"market share" picture

Noun

the portion of a market controlled by a particular company or product

Example:
The company aims to increase its market share by 10% next year.
Despite strong competition, they maintained their leading market share.