What is second mover advantage? Entering a market late.

The stress of not being a market pioneer It’s a regular question that I hear when talking with people about new products. Especially in the WordPress ecosystem, people regularly ask the question.
Are all the good product ideas already taken?
The underlying assumption is that once a single product exists, or once a great product exists, that there is no room for anyone else. But it’s not true, is it?
Market pioneers – the first mover in a market that creates a new and compelling offer – are awesome and they get a lot of benefit from being early. Think Coca-Cola.
But we all like variety and choice, right? We want more than one kind of car, more than one kind of hotel, more than one kind of coffee. The stress of not being a market pioneer is real, but something we shouldn’t stress about. Especially if it’s something that can’t be helped.
My answer, in case you wondered, is always this:
No, the good product ideas aren’t all taken.
There’s tons of room to innovate.
In the WordPress space, this is when I mention Ninja Forms – a company that appeared in the WordPress ecosystem years after there was a flagship product (Gravity Forms).
Source: https://managewp.org/articles/14201/what-is-second-mover-advantage-entering-a-market-late

source https://williechiu40.wordpress.com/2017/01/13/what-is-second-mover-advantage-entering-a-market-late/