How do I know if a vertical is expanding?

I received this question from a subscriber from yesterday's post: "How do I know if a vertical I'd like to target is expanding?" (meaning is the vertical industry expected to get bigger or smaller in the next 5 years)

Instead of guessing the answer, look for data-driven research to guide you.

My go-to resource for Vertical research (sizing, growth, expansion/contraction, etc.) is IBISWorld.com. It's a reliable resource that I've been using for years. If you're new to IBISWorld, I just shot a 4-minute tutorial on how to use it for free. 

Click here to see it.

CQ

Frequently Asked Questions

Why shouldn't vertical expansion or contraction be based on guesswork?

Because whether an industry is expected to grow or shrink over the next 5 years is a real, researchable fact, not something worth leaving to assumption when reliable data exists to answer it directly.

What is IBISWorld.com used for in this context?

It's a go-to resource for vertical research, covering sizing, growth, and expansion or contraction trends, a reliable source that's been used consistently over the years to answer exactly this kind of question.

Why does it matter whether a target vertical is expanding or contracting?

Because committing to specialize in a vertical that's shrinking carries very different long-term risk than committing to one that's growing, making this data an important input into that decision.

Is IBISWorld difficult to use for someone unfamiliar with it?

Not necessarily. A short, 4-minute tutorial is available specifically to help new users get oriented with how to use the tool effectively for this kind of vertical research.

What's the practical takeaway for anyone wondering about a specific vertical's trajectory?

Turning to data-driven research like IBISWorld rather than guessing, allowing an actual, evidence-based answer to the question of whether a specific vertical is expected to expand or contract.