Competitive rivalry is quite high in this sector, as players use innovation and product differentiation

to beat peers • Each player adopts different strategies to capture market share; for example, one
player innovates while another diversifies, thus intensifying the rivalry in the sector Threat of New
Entrants Substitute Products Bargaining Power of Suppliers Bargaining Power of Customers • Threat
is low due to capital-intensive nature of the industry • Evolving technology, brand loyalty block entry
• Low bargaining power of suppliers, as product differentiation is less • Low switching costs for
customers • High as buyers possess considerable product information these days, which helps in
comparison • Availability of similar options