Self-storage and Moving Services Market Size to Grow by USD 51.53 billion from 2023 to 2028
PR Newswire
6 min read
NEW YORK, Jan. 10, 2024 /PRNewswire/ -- The self-storage and moving services market is estimated to grow by USD 51.53 billion during 2023-2028. However, the growth momentum will progress at a CAGR of 8.95% during the forecast period. The prospects for the self-storage and moving services market in 2024 appear promising owing to several driving forces. The increasing adoption of self-storage software stands out as a significant factor in enhancing operational efficiency. This software effectively streamlines tasks related to storage accessibility, security, and the management of portable storage containers, catering to the increasing demand for both residential and commercial storage requirements. Moreover, local moving companies are extending their services to include professional packing and unpacking solutions, ensuring the safety of belongings throughout the transit process. Furthermore, the market's expansion is propelled by the availability of packing materials and specialized vehicle storage solutions, contributing to its projected growth in the upcoming year. Discover some insights on market size & segmentation before buying the full report Download the FREE sample report
Technavio has announced its latest market research report titled Global Self-storage and Moving Services Market 2024-2028
Information Services Market Insights -
Vendors: 15+, Including Big Yellow Group PLC, CubeSmart LP, Extra Space Storage Inc., Life Storage Inc., Men On The Move, Mid West Moving and Storage Inc., MYMOVE LLC, National Storage REIT, PODS Enterprises LLC, Public Storage, Ready Steady Store Ltd., Safestore Holdings plc, Schroders plc, SIRVA Worldwide Inc., Smartbox Ecommerce Solutions Pvt. Ltd., Spacer.com Inc., Stor Age Property REIT Ltd., The Box Self Storage Services LLC, U Haul International Inc., Kennards Self Storage Ltd., among others
Coverage: Parent market analysis; key drivers, major trends, and challenges; customer and vendor landscape; vendor product insights and recent developments; key vendors; and market positioning of vendors
Segments: Type (Self-storage and Moving services), Service (Climate-controlled self-storage, Full-service moving, Non-climate controlled self-storage, and DIY moving truck rental), and Geography (North America, Europe, APAC, South America, and Middle East and Africa)
Self-storage and moving services market - Segmentation analysis
The market is segmented by Type (Self-storage and Moving services), Service (Climate-controlled self-storage, Full-service moving, Non-climate-controlled self-storage, and DIY moving truck rental), and Geography (North America, Europe, APAC, South America, and Middle East and Africa). The self-storage segment is significant during the forecast period. The self-storage industry leases storage areas to customers, accommodating both individuals and businesses on a short- or long-term basis. Rising urbanization has heightened its popularity, offering varied units fitting diverse needs and budgets. Additionally, software integration within self-storage services enhances efficiency, streamlining operations, and improving security, propelling market growth due to enhanced management capabilities and streamlined customer service.
Self-storage and moving services market - Vendor Insights
The growing competition in the market is compelling vendors to adopt various growth strategies such as promotional activities and spending on advertisements to improve the visibility of their services. Technavio's report analyzes the market's competitive landscape and offers information on several market vendors.
Self-storage And Moving Services Market – Market Dynamics
Major Trends - The self-storage and moving services market is witnessing a significant trend influenced by the integration of the global mobile homes market. This convergence shapes the market landscape, offering diverse services like moving boxes, secure document storage, and RV and boat storage. Additionally, corporate relocation services, warehouse storage, and inventory management are evolving, facilitating solutions such as student storage solutions and online storage booking with 24/7 storage access. Varied self-storage unit sizes complement this trend, catering to diverse storage space requirements.
Key Challenges - The self-storage and moving services market encounters formidable challenges like intense competition within a fragmented marketplace. Additionally, the limited adoption rate in emerging economies poses a hurdle to its growth. These challenges impact international moving services, fragile item handling, heavy item moving, and long-distance moving. Furthermore, obstacles arise in aspects such as climate-controlled storage availability, moving trucks rental, and the accessibility of storage insurance. Moreover, difficulties persist in offering moving and storage discounts and effective relocation consultations.
The self-storage and moving services market report provides critical information and factual data, with a qualitative and quantitative study of the market based on market drivers and limitations as well as future prospects.
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