In this post I explained that inventing a new product category is a great marketing strategy. When you define the category you are automatically first. This means you have no competition. But if you are successful, others will soon launch competing offers. Why wait for that?
Big multinationals have learnt this lesson a long time ago. Take for example shampoos, there are many different brands you can choose from. Most of these brands are owned by the same two companies: Unilever and Procter & Gamble. many other product categories.
You should not wait for others to introduce, for instance, a niche or budget option in your category. Launch your own competitors and own the space.