The best replacement for market penetration is market share.

The best alternatives to market penetration are rated as following:
★★★★★  market share
★★★★  market development
★★★  market skimming
★★  market expansion
★  price skimming
★  product development
  market saturation

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Google Trends

Scale is based on the average worldwide traffic of market penetration in all years. Click on graph for more.
market penetration
market share
market development