How big is your slice of the cake?
Market share measures the percentage of an industry or a market's total sales that a particular company accounts for during a specified period. Market share is calculated by dividing the company's sales over a period of time by the total sales of the industry (market size) over the same period. This metric is used to gauge the company’s market position in relation to its competitors. Market share calculation is usually done for specific markets or geographic areas. It gives us an idea of the size of the company in relation to its market and competitors.
Companies with larger market share are often able to raise prices and achieve other benefits from a strong market position. The goal is to grow your revenues faster than your competitors to gain market share.