Market share refers to the percentage of total sales or revenue that a company or product holds within a specific market. It is a measure of a company’s or product’s success and competitiveness in relation to its competitors. A higher market share indicates a larger customer base and a stronger position in the market, while a lower market share may suggest room for growth and improvement. Market share is often used as a key performance indicator for businesses and can be influenced by various factors such as pricing, marketing strategies, and product differentiation.