Many competitors? I only see 2 competitors (Arsenal and Tottenham).
I'm not sure if Man City will have the highest chance to win the title. To be considered the favorite to win EPL title, Man City should defeat the competitors first when they have the big matches (against Tottenham on matchday 7, against Arsenal on matchday 12). If Man City can defeat them, I believe Man City will be the favorite to win EPL title again this season.
In addition to Tottenham and Arsenal, there are several other teams that can beat City in a head-to-head meeting - Liverpool, Chelsea, United + a whole bunch of other less stellar teams. Even if City lose points in half of all these meetings, statistically their chances of winning the championship will be slim. It is wrong to reduce the rivalry for the championship to games against two teams.
There are other teams that will give some Man City tough time this season for instance the winning goal scored by Coutinho when Aston Villa played Man City was ruled out as an offside whereas replays shows it was onside unfortunately that match ended 1-1, Man City came from behind to drew their match 3-3 against Newcastle, thus there are tougher competitors in EPL now invariably increasing their rivalry to more than the two clubs mentioned, playing draws also reduces points, I believed it even becomes tougher in defending the EPL title because all their opponents will play with all their might to earn a good result.