Saying there's little competition is a huge stretch. WordPress is the dominant force by a large margin. But from small static site generators, hosted platforms, other open source alternatives, to enterprise-ready solutions there are a lot of competitors hitting nearly every segment of the market.

http://trends.builtwith.com/cms provides some good trends of the big players, but I wouldn't put too much stock in it.

That said, as a developer who has fallen into the WordPress business out of necessity, there are a lot of great products out there that are built much better than WordPress and I wish one of them were the dominant player. Still, WP manages to get the job done most of the time.