I am looking for an English word to explain the following business situation.
A new product or service is offered to the market. There are many small companies that start to provide this service or product. After a while, only a few of them survives. Other companies are either bought out or closed down. The market has xyz.
What is the best word to use here in the place of xyz?
The first word that pops up in my mind is to converge, but I believe that there is a better word. However, I cannot remember it at the moment.