Market share is used to give you an idea of how large, powerful or important your business is within its particular sector.
Global information technology industry forecast 2019-2021, by region. In 2021, the global information technology (IT) industry is valued at approximately 5 trillion U.S. dollars.
Simply put, market share is a key indicator of a company's competitiveness. When a company increases its market share, this can improve its profitability. This is because as companies increase in size, they too can scale, therefore offering lower prices and limiting their competitors' growth.
It gives you a benchmark of what works and what doesn't and can offer direction in how you can be more effective for future campaigns.