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This part of a sentence is correct and usable in written English
You can use it when you are referring to competition between companies or individuals that is growing, or becoming more intense. For example: "Due to a rapidly expanding market, there is increasing competition in the tech industry."
Exact(59)
Ms. Reding was unveiling a series of proposals aimed at increasing competition in telecommunications.
The company also faces increasing competition in its display advertising business.
Hyundai Motor would have increasing competition in a market where it holds a 65.7percentt stake.
Still, Bloom and SoftBank face increasing competition in their quest to take the technology global.
Because of the increasing competition in the buyout arena in the last few years, future returns could be hurt.
It has also committed to increasing competition in banking by bringing at least two "challenger" banks onto the high street.
The trust said it "broadly supports" increasing competition in radio but does not believe in raising the quota levels.
9.08am BST Letta also cited three priorities -- support economic recovery; cutting taxes on workers, and increasing competition in Italy's economy.
And he attacked trade unions for their criticism, in particular concerns over increasing competition in the health service.
Of course, Apple will suffer the most, as its products are already facing increasing competition in China.
Similar(1)
But the government believes that creating separate companies would foster increased competition in the industry.
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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