noun
Refers to a person, company, or entity that competes directly with another in business, sports, or other competitive contexts.
この市場では、競合相手が多くて大変だ。
In this market, there are many competitors, so it's tough.
彼は私の最大の競合相手だ。
He is my biggest rival.
Compound of 競合 (competition, rivalry) and 相手 (partner, opponent). The word is a straightforward combination of its parts.