In your opinion. What's niche market?

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A small but profitable segment of a market suitable for focused attention by a marketer. Market niches do not exist by themselves, but are created by identifying needs or wants that are not being addressed by competitors, and by offering products that satisfy them

A segment of  market in which a specified product offered within a specified territory with specified generally differentiated features.

Is a focused, targetable portion of a market that needs a product or service which not being addressed by mainstream providers

In general

A small area of trade within the economy, often involving specialized products

In broad terms, niche marketing is about operating within narrow and clearly defined marketing boundaries. It is about positioning yourself so that you can become a “big fish in a small pond”.

 A niche market is a group of potential customers that have a definable need that no one else is providing. Uncovering a niche market can be difficult. But, once you do, it can be very profitable.

In other words, it is a market for a product or service, perhaps an expensive or unusual one, that does not have many buyers, but that may make good profits for companies that sell it.

A niche market is the subset of the market on which a specific product is focused. The market niche defines the product features aimed at satisfying specific market needs, as well as the price range, production quality and the demographics that is intended to impact. It is also a small market segment.

• niche market is a NOUN
  1. a market in which a limited and clearly defined range of products is sold to a specific group of customers
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•  en.wikipedia.org/wiki/Niche_market

  A niche market is the subset of the market on which a specific product is focused. The market niche defines the product features aimed at satisfying specific market needs, as well as the price range, production quality and the demographics that is intended to impact. It is also a small market segment. For example, sports channels like STAR Sports,ESPN, STAR Cricket, and Fox Sports target a niche of sports enthusiasts.

  Every product can be defined by its market niche. The niche market is highly specialized, and aiming to survive among the competition from numerous super companies. Even established companies create products for different niches, for example, Hewlett-Packard has all-in-one machines for printing, scanning and faxing targeted for the home office niche while at the same time having separate machines with one of these functions for big businesses.

A small profitable segment whose needs are not satisfied by current competitors.

Basically Niche means A Segment or a section and a niche market is for a particular product or service which is for a particular set of people as customers.For example :

A luxury Yacht and the additional services attached with it is for a particular set of people ( a Nice Market).The Millionaires and Billionaires  

It is when you concentrate on small but specific and well defined segment of population. As a market it doesn’t exist but you create it, by identifying needs, want, and requirements that are being addressed poorly or not at all by other firms. Thus you develop and deliver goods or services to satisfy them. So niche marketing is aimed at being a big fish into a small pond instead of being small fish into a big pond. You can also call it micromarketing