The online learning market is growing. Projected to reach $279.3 billion by 2029, it reflects an increasing demand for upskilling driven by technological change and evolving workplace needs.

Online and hybrid Executive Education and MBAs are growing in popularity. Furthermore, alternative educational providers are emerging with innovative, cost-effective online learning experiences. While this market growth bodes well for business schools and universities, it also means they must adapt to meet evolving student expectations and remain competitive in a rapidly changing landscape.

Since 2020, we have produced an annual report that takes a deep dive into online education. We’ve worked with over 50 universities and business schools and gathered insights from over 2,000 students — this has allowed us to identify emerging issues, track trends and build a unique view of the ever-changing online learning market.

This year, we have partnered with GMAC and 13 global universities and business schools. Our findings help institutions around the world to shape their outreach strategies, assess their portfolios and improve engagement throughout the student experience.

Here they are.

What are the key themes from the research on online business education?

1. Time and flexibility are essential

With 58% of learners preferring hybrid/blended or high-flex programmes, providing courses that can be completed quickly and around other commitments is key. We found that speed of completion is a factor that is particularly important to learners when considering online programmes.

Action: Explore how you can offer flexibility in areas such as course duration, delivery and finance options.

2. Digital integration can provide a better experience

Business schools should be using AI and immersive technologies to make learning more personalised and engaging. Our research found that 59% of prospective students find AI most beneficial for adaptive learning and exam prep. By embracing digital technologies, business schools can differentiate themselves and enhance the online learning experience.

Action: Create learning platforms that are places for interaction, personalisation and engagement with tutors and peers.

3. The opportunity to create lifelong advocates

We found that nearly 75% of online learners would consider studying again with their current institution, giving providers the opportunity to build long-lasting relationships. By offering stackable courses and developing comprehensive ‘elumni’ programmes, business schools can extend the learner lifecycles and create lifelong advocates.

Action: Provide consistent communications and support for alumni, as well as clear pathways for ongoing learning.

4. The picture changes around the world

Our research found big differences across regional markets around preferences for delivery modes, course length and alumni offerings. Business schools need to understand and meet the diverse needs of their global student populations, tailoring their online learning experiences to regional preferences.

Action: Develop a clear understanding of regional audiences and nuance your approach to address their needs.

5. There’s a desire to make a difference

More than ever, prospective students are driven by the idea of making a positive impact on society. Business schools should address this desire in their messaging and marketing, aligning their offerings and narrative with this growing trend.

Action: Develop narratives that showcase how your educational offerings enable students to create positive societal change.

These insights provide a snapshot of the rapidly changing landscape of online business education. Want to explore our findings in more detail? Download our white paper ‘Online Learning Research 2024 – Understanding the online business education market’.

We’re committed to continually updating our understanding of this dynamic market. We are currently planning our next research project – and you can get involved. Help shape future research and share your perspective on the key topics you’d like us to investigate in our next study.

Use business education insight to make better decisions

This research project is just one aspect of the work we do to support business schools and universities. We help over 70 institutions worldwide to meet challenges in areas like data analysis, audience insight, portfolio strategy, market understanding and recruitment campaigns.

At SMRS, we believe in the power of business schools to make a positive difference. That’s why we’ve spent the last 25 years helping institutions develop professionals who will shape a better, fairer working world for everyone.

We share our expertise and experience in our regular Business Education Insight newsletter. To sign up and stay ahead, visit https://share-eu1.hsforms.com/1e1JjQElxSm-KrtgFYvJvjwfgk5m

For additional insights, trends and perspectives about online education, visit the conversation here.