Revoltech once sort of popularized the idea of super-articulated Japanese figures, but their production quality are less tighter and refined than Figuarts and Figma. Over the years they've been treated as more or less "inferior" compared to those other two, especially since their humanoid characters tend to be more stylized (for better or worse, their MGR Raiden figure being one of the better examples). Over the years they've attempted different directions to improve their joints/sculpts and even started a line of 4" figures.
Max Factory's Figma rose in popularity mainly due to its introduction of fairly accurate depictions of anime characters. Their productions are more focused on anime characters and recently they've been improving even more with sharper designs, better joint systems and clean-cut paint. Unfortunately, their expertise in producing anime figures can often affect their movie/live-action-inspired figures where their sculpts, while sharp, tends to be simpler than what you would expect from a movie-inspired figure. Still, in terms of producing 1/12 anime figures, they're still unmatched in terms of consistency and the amount of characters they've put out.
Bandai's Figuarts mainly became popular through their mech and Tokusatsu figures only to branch out even further touching various properties such as famous Japanese kaiju (Godzilla) and later, classic anime like Dragon Ball Z. This essentially catapulted them into the spotlight as high-end 1/12 figure creators. Their production quality is equal to Max Factory's Figma in some respects. The main difference between the two is that Figma tends to be more smooth and clean-cut in the production of their final products (very suited for anime characters) while Figuarts tends to be more rough and textured (very suited for realistic/detailed sculpts).
One could argue that Figma and Figuarts are the top competitors of the 1/12 Japanese market, but even that's a bit questionable considering how often it is that Figma and Figuarts tend to tackle very different properties barring the occasional overlaps (e.g. Cardcaptor Sakura)