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"Intensified competition" is correct and usable in written English
You can use it to describe a situation where competition between two or more entities is becoming more intense or difficult. For example, "In the market for home cleaning services, there has been an intensified competition as more companies enter the market."
Exact(60)
Intensified competition among lenders could lead to loosening underwriting standards in future".
Intensified competition.
Intensified competition lowers male workers' wages by 0.8 (0.9) log points in the specification with plant sex (match) fixed effects, where the coefficient is statistically significant at the 5 (10) per cent level.
Globalisation has intensified competition.
Some countries will experience intensified competition between a hardened Islamist core and a determined secularising trend.
America's economic slowdown has intensified competition, and troubles have spread to Europe.
Notably, it underplays the impact of globalization, which intensified competition and spurred businesses to slash labor costs.
A renewed expansion by Hitachi, a Japanese rival, and the increasing global success of several Chinese trainmakers have intensified competition.
Dell Computer's entrance into the market has intensified competition for servers, which run Internet sites and corporate networks.
This booming market for devices has intensified competition, as handset, chip makers and everyone else down the chain tries to secure a larger slice of the pie.
At the same time, consolidation among the brand-name IT producers has reduced the number of potential customers for the ODM manufacturers and intensified competition.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com