(MENAFN- GlobeNewsWire - Nasdaq) Dublin, Nov. 12, 2024 (GLOBE NEWSWIRE) -- The "Self Storage market Report 2024" has been added to ResearchAndMarkets.com's offering.
The self-storage market size has grown strongly in recent years, from $59.03 billion in 2023 to $63.58 billion in 2024 at a compound annual growth rate (CAGR) of 7.7%. The growth during the historic period can be attributed to increasing urbanization, rising Real estate prices, changes in lifestyle, growing commercial demand, and an increased business awareness of storage costs and benefits.
The self-storage market size is expected to see strong growth in the next few years, growing to $86.05 billion in 2028 at a CAGR of 7.9%. The growth during the forecast period can be attributed to the rising demand for non-conventional storage options, an improving economic outlook, the expansion of small-scale businesses, increased demand for climate control, and a growing need for storage. Major trends in the forecast period include the adoption of technology in self-storage facilities, a growing preference for climate-controlled storage units, flexible leasing options, value-added services, and a rise in demand for smaller storage units.
The expansion of the e-commerce sector is anticipated to drive the growth of the self-storage market in the future. The e-commerce industry involves online buying and selling of goods and services, using digital platforms to reach a global audience and simplify transactions. The sector is growing due to increasing consumer preference for personalized and local products, along with the convenience and accessibility of online shopping. The self-storage market offers the e-commerce industry flexible, cost-effective solutions for managing excess inventory, seasonal stock, and business equipment. For example, in February 2024, the Census Bureau of the Department of Commerce reported that e-commerce sales in the fourth quarter of 2023 increased by 7.5% compared to the same period in 2022. Consequently, the growth of e-commerce platforms is boosting the self-storage market.
Leading companies in the self-storage market are implementing smart storage solutions to enhance customer experience, improve security, and streamline operations. Smart storage integrates advanced technologies with Internet of Things (IoT) sensors, radio-frequency identification (RFID) tracking, and automated inventory management systems to optimize storage space, improve accessibility, and enhance security within storage facilities. For instance, in September 2023, Vantiva SA, a France-based telecommunications company, introduced Vantiva Smart Storage. This innovative Wi-Fi and IoT software solution for the self-storage industry allows integration of third-party devices and subsystems while supporting various communication protocols. It enables 24-hour remote and secure monitoring of essential assets with alert features, unifying all technology subsystems, including sensors, HVAC, and access control, into a single dashboard for operators to oversee operations, identify inefficiencies, and respond to alerts across multiple locations.
In September 2023, Public Storage, a US-based self-storage company, acquired Simply Self Storage for $2.2 billion. This acquisition aims to enhance Public Storage's market presence by adding 127 properties with a total of 9 million rentable square feet, reinforcing its position as a leading player in the self-storage industry. Simply Self Storage is a US-based company specializing in self-storage platforms.
Major companies operating in the self storage market include U-Haul, Public Storage, Extra Space Storage, CubeSmart, Life Storage Inc., National Storage Affiliates Trust, Shurgard Self Storage, Storage Solutions, Big Yellow Self Storage Company, Safestore, SmartStop Self Storage, StorQuest Self Storage, Metro Self Storage, StorageMart, Simply Self Storage, Prime Storage, iStorage, Westport Properties, Global Self Storage Inc., Lok'nStore, Central Self Storage and Metro Mini Storage.
This report focuses on self storage market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Markets Covered:
By Type: Climate-Controlled Units; Portable Storage; Traditional Storage Units By Storage Unit Size: Small Storage Unit; Medium Storage Unit; Large Storage Unit By Application: Household And Personal Storage; Business Storage; Vehicle And Car Storage By End Users: Commercial; Industrial; Residential
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 175 |
| Forecast Period | 2024 - 2028 |
| Estimated Market Value (USD) in 2024 | $63.58 Billion |
| Forecasted Market Value (USD) by 2028 | $86.05 Billion |
| Compound Annual Growth Rate | 7.9% |
| Regions Covered | Global |
Key Topics Covered:
1. Executive Summary
2. Self Storage Market Characteristics
3. Self Storage Market Trends and Strategies
4. Self Storage Market - Macro Economic Scenario
5. Global Self Storage Market Size and Growth
5.1. Global Self Storage Market Drivers and Restraints
5.2. Global Self Storage Historic Market Size and Growth, 2018 - 2023, Value ($ Billion)
5.3. Global Self Storage Forecast Market Size and Growth, 2023 - 2028, 2033F, Value ($ Billion)
6. Self Storage Market Segmentation
6.1. Global Self Storage Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Climate-Controlled Units Portable Storage Traditional Storage Units
6.2. Global Self Storage Market, Segmentation by Storage Unit Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Small Storage Unit Medium Storage Unit Large Storage Unit
6.3. Global Self Storage Market, Segmentation by Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Household and Personal Storage Business Storage Vehicle and Car Storage
6.4. Global Self Storage Market, Segmentation by End Users, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Commercial Industrial Residential
7. Self Storage Market Regional and Country Analysis
7.1. Global Self Storage Market, Split by Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global Self Storage Market, Split by Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8-29. Country Self Storage Market Breakdown
30. Self Storage Market Competitive Landscape and Company Profiles
30.1. Self Storage Market Competitive Landscape
30.2. Self Storage Market Company Profiles
U-Haul Public Storage Extra Space Storage CubeSmart Life Storage Inc.
31. Self Storage Market Other Major and Innovative Companies
National Storage Affiliates Trust Shurgard Self Storage Storage Solutions Big Yellow Self Storage Company Safestore SmartStop Self Storage StorQuest Self Storage Metro Self Storage StorageMart Simply Self Storage Prime Storage IStorage Westport Properties Global Self Storage Inc. Lok'NStore
32. Global Self Storage Market Competitive Benchmarking
33. Global Self Storage Market Competitive Dashboard
34. Key Mergers and Acquisitions in the Self Storage Market
35. Self Storage Market Future Outlook and Potential Analysis
35.1 Self Storage Market in 2028 - Countries Offering Most New Opportunities
35.2 Self Storage Market in 2028 - Segments Offering Most New Opportunities
35.3 Self Storage Market in 2028 - Growth Strategies
For more information about this report visit
About is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
CONTACT:
CONTACT:
Laura Wood,Senior Press Manager
...
For E.S.T Office Hours Call 1-917-300-0470
For U.S./ CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
MENAFN12112024004107003653ID1108876500
Comments
No comment