industrial consolidation

Industrial consolidation refers to the process where companies in the same industry merge or are acquired to create fewer, larger firms. This can enhance efficiency, reduce competition, and lead to economies of scale, meaning that larger companies can often produce goods or services at a lower cost. While consolidation can benefit businesses by increasing market share and resources, it may also raise concerns about reduced competition, potential monopolies, and fewer choices for consumers. Overall, it's a significant trend that shapes industries and influences economic dynamics.