At the same time, the study says, on-line communities are highly fragmented.

The beauty of the food companies used to be that they sold to a highly fragmented industry.

The biggest is the potential for a highly fragmented stock market.

They see the highly fragmented business as the perfect target.

One reason for the company's success, he continued, is that it operates in a highly fragmented market.

Such ventures are unusual in the highly fragmented radio industry.

It is locally common within its range, but has a highly fragmented distribution.

Philip is the largest company in a highly fragmented business.

Despite all the mergers, paper remains a highly fragmented industry.

For another, the market is highly fragmented - and some say oversubscribed.