Vertical Market

From Wiki

A "vertical market" is a particular industry or group of enterprises in which similar products or services are developed and marketed using similar methods. Broad examples of vertical markets are: insurance, real estate, banking, heavy manufacturing, retail, transportation, hospitals, and government.

A vertical market is a market which meets the needs of a particular industry: for example, a piece of equipment used only by semiconductor manufacturers. It is also known as a niche market.

A horizontal market is a market which meets a given need of a wide variety of industries, rather than a specific one: for example, word processing software. On occasion a horizontal market can be highly specialized at the same time, for instance consider the market for converting mainframe databases developed with the tools of a particular company. The market for such a database conversion service might involve many vertical markets (aerospace, manufacturing, banking, etc) but nevertheless be labeled "niche" if the database technology is technically obsolete and no longer mainstream.

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