Services sector sees weakened competition as larger players grow market share – CCPC

Competition and Consumer Protection Commission report shows an increase in market concentration and markups in the sector

CCPC chair Brian McHugh said competitive markets are vital for a healthy economy and the report shows 'an increase in concentration and average markups, meaning the promotion of strong competition has never been more important'.

Company competition has “weakened in several important areas” across the Irish services sector with the largest companies increasing their market share significantly since 2008, the Competition and Consumer Protection Commission (CCPC) revealed in a report.

In the report, which looked at competition within the services sector between the years 2008 and 2022, the CCPC found the average market share of the top four businesses in the service sector has increased from 25% in 2008 to 37% in 2022.