An industry vertical is a grouping of customers by industry to offer products and services that meet industry specific needs. This can be viewed as a type of market segment. For example, a software company that produces revenue management systems for the airline industry. The following are common industry verticals.
Accounting & Auditing
Amusement & Recreation
Arts & Culture
Technology & Information Services
Consumer Goods & RetailBusinesses that manufacture, distribute and sell goods to individuals and households. This includes all retailers and ecommerce firms that sell physical products to individuals.
Consumer ServicesIndustries that offer intangible value to individuals and households. This includes major industries such as hospitality, restaurants, media, entertainment personal services and professional services.
Technology & Information ServicesIndustries related to computing including hardware, software, consulting and services for businesses and consumers.
Healthcare & Life Sciences Organizations focused on the health and well-being of people including scientific research, medical innovation and healthcare services. These are typically a mix of public and private sector institutions and firms.
Financial ServicesFirms and institutions that manage money and financial assets and facilitate financial transactions.
SummaryIndustry verticals relate to the practice of targeting business customers in a particular industry with products, services and advice tailored to their needs and challenges. For example, a billing system for the telecom industry. This can be contrasted with horizontal markets whereby products provide functionality that can be used by any industry. For example, a generic billing system that can handle the billing needs of most businesses.Next: Industries
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