A vertical market is a group of businesses, organizations or enterprises which are viewed as a classification of the larger group of all businesses, organizations or enterprises on the basis of the unique and specific nature of the products or services that they sell to the markets of the world or of the activities in which they are engaged.
The activities of participants within in any given vertical market are typically similar in that they are shared, copied or cooperative. The activities of participants in vertical markets are typically competitive due to the overlapping focuses of the products and services that are provided to the public by the participants. Examples of vertical markets are: hospitality, food & beverage, insurance, real estate, banking, heavy manufacturing, retail, transportation, health care and government.
The single most defining characteristic of the participants in a vertical market is competition.
Vertical market software is software aimed at addressing the needs of any given business within a discernable vertical market.
