Vertical market
A vertical market, or niche market, is a group of similar businesses and customers which engage in trade based on specific and specialized needs. Often, participants in a vertical market are very limited to a subset of a larger industry. An example of this sort of market is the market for point-of-sale terminals, which are often designed specifically for similar customers and aren't available for purchase to the general public.
A vertical market is a market which meets the needs of a particular industry. Customers receive an integrated solution, i.e. a bundle of products or services from one business segment.
Vertical markets mainly developed at the end of the 20th century. They are especially of importance for system providers that integrate different technologies of an industry into one system. Those system providers are able to offer an industry solution with high specific value for their customers.
See also:
Customer orientation
Customer relationship
