market growth rate

Market growth rate is the percentage increase in the size or sales of a specific market over a period of time. It indicates how quickly a market is expanding or contracting, helping businesses and investors understand opportunities and challenges. For example, if a market was worth $100 million last year and grows to $110 million this year, the growth rate is 10%. This metric provides insight into industry trends, consumer demand, and competitive dynamics, aiding strategic decision-making. It is typically calculated annually and used to compare different markets or track progress within a specific industry.