1. A market that is experiencing a decline in size, sales volume, or customer base over time
The vinyl record industry was a shrinking market until its recent resurgence among collectors.
A indústria de discos de vinil era um mercado em contração até seu ressurgimento recente entre colecionadores.
2. An economic segment with decreasing demand, fewer buyers, or reduced business opportunities
Due to digital transformation, the shrinking market for physical media forced companies to adapt their strategies.
Devido à transformação digital, o mercado em contração de mídia física forçou empresas a adaptarem suas estratégias.