What do we understand as Industry Verticals and Business Verticals?

The term "verticals" in business refers to a vertical market. Basically, a vertical market is one where businesses and marketers cater to the needs of a specific group of people within an industry. This concept is in contrast to a horizontal market, where the focus is diverted to a large amount of people regardless of industry. Source: Houston Chronicle Small Business Initiative (http://smallbusiness.chron.com/verticals-business-26157.html)


The single defining characteristic of the participants in a vertical market is competition within a well-defined segment. Source: Wikipedia (http://en.wikipedia.org/wiki/Vertical_market)