1. A market characterized by decreasing demand, shrinking customer base, or reduced sales volume over time
The print newspaper industry faces a diminishing market as more readers switch to digital news.
A indústria de jornais impressos enfrenta um mercado em declínio à medida que mais leitores migram para notícias digitais.
2. An economic sector experiencing declining profitability and market share
Companies in the diminishing market for floppy disks had to adapt or disappear.
Empresas no mercado em declínio de disquetes tiveram que se adaptar ou desaparecer.