Meaning of the word "vie for" in English

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

vie for

US /vaɪ fɔr/
UK /vaɪ fɔː/

Phrasal Verb

to compete with others in order to achieve something

Example:
Several candidates are vying for the presidential nomination.
The two companies are vying for market dominance.