What are the factors driving the virtual events market?

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DJ parties, political rallies and India’s greatest cricketing carnival, all these have broken the illusion that you need an “offline” presence to enjoy/participate in these. Google Meet, Microsoft Teams once restricted to corporate user features of the tech giants have become household names today. One major benefactor of this gigantic shift is the virtual events industry. An industry which was valued at 78 Billion USD, is looking at exponential growth as “online” becomes new normal. 


The most important factor which led to this situation today is the wide reach of the global virtual events. A lecture being conducted in India’s top B-school can be broadcasted across the length and breadth of the country to a great audience. 


Another major factor can be attributed to is the cost effectiveness of the events. A stable internet connectivity and laptop that’s the total cost involved in conducting a virtual event. This has seen a significant growth, where a number of professionals have come out to host such webinars about their respective fields, engaging more and more audience and attendees. On the attendee part too, virtual events are of great help, as most are free and there isn’t much hustle involved in order to attend those. 


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