Market growth refers to the increase in demand and sales of a particular product or service over time. This can be due to various factors such as changing consumer preferences, technological advancements, and macroeconomic conditions. Market growth is typically measured by analyzing data on the size of the market, the number of consumers, and the revenue generated. A growing market presents opportunities for businesses to expand their customer base and increase profits, but also attracts new competitors. Therefore, it is important for businesses to stay abreast of market trends and adapt their strategies to take advantage of opportunities for growth while mitigating potential risks.
