The online self-publishing services market is booming, according to a new report. It’s forecast to more than double from US $12.4 billion globally in 2024 to US $25.6 billion by 2033.

Several factors are driving this. The first is technology, with new AI tools making it easier and more affordable for people to edit and format books, design covers and help with marketing. Print-on-demand platforms, eBooks and audiobooks mean that books can be distributed globally without expensive print runs, shipping and storage costs.

Many authors are also choosing to self-publish because it offers more creative freedom, more control over timing (traditional publishers can delay the release of a book for months or even years) and better profit margins.

There’s also a shift towards sustainability among readers and writers. Creating an eBook uses far less trees and chemicals, as well as saving on transport emissions, than a printed novel.

Some of the opportunities the report identifies include:

• Niche genres – reaching and connecting with readers seeking diverse topics and voices
• Diverse content formats – growth of audiobooks and eBooks
• Emerging markets – countries across Asia-Pacific, Latin America, the Middle East and Africa

It’s definitely an exciting time to be writing and publishing.