Meaning of the word "Compete for" in English

What does "Compete for" mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

Compete for

US /kəmˈpiːt fɔːr/
UK /kəmˈpiːt fɔːr/

Phrasal Verb

to try to win or achieve something in competition with others

Example:
Many companies compete for market share.
Athletes from around the world will compete for gold medals.