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Discover Ludwig"limited competition" is correct and usable in written English.
It is often used to refer to situations where there are a limited number of participants or competitors. For example, "Our company is in a limited competition with three rival firms for the same government contract."
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Limited options implies limited competition, and thus, most often, lesser service at greater prices.
And we have limited competition – and cut-throat competition too.
In the used-parts business, Mr. Henig had faced limited competition.
This licensing trick is the way in which Google has undoubtedly limited competition.
Consumer advocates said the deal would have limited competition and led to higher prices.
For a time, the strategy was extremely profitable for everybody, in part because the strict controls limited competition.
If the supply of empty shells of appropriate size is limited, competition for shells among hermit crabs can be severe.
Mr. Zheng, the Renmin University professor, said local governments were partly to blame for the inflation because they limited competition.
But changes fostered limited competition between sickness funds and more extensive competition in the small market for supplementary policies.
Consolidation among distributors limited competition and crowded portfolios in key markets, making it difficult for his selections to stand out.
Moreover, the positive but low value of the cross-price elasticity (0.123) between Egypt and South Africa indicated limited competition between Egyptian and South African oranges.
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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