Self Storage Market Statistics & Industry Report, 2020-2027

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Self Storage Market Statistics & Industry Report, 2020-2027

As per the GMI Research report, the Self-Storage Market will expand at a remarkable rate over the forecast period. The self-storage market is driven by the acce

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Global Self Storage Market

As per the GMI Research report, the Self-Storage Market will expand at a remarkable rate over the forecast period. The self-storage market is driven by the accelerating population rate and ameliorating economic conditions.

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Self-Storage Market Dynamics

The prime factor supplementing the growth of the global self storage market includes the surging number of small-scale business and the enlargement in the e-commerce industry. According to the IBEF, the Indian e-commerce Indian e-commerce industry is projected to outperform the U.S. and emerge as the second largest e-commerce industry across the world by the end of 2034. It is anticipated to reach USD 99 billion by the end of 2024, which accounted to be USD 30 billion in 2019. Moreover, the accelerating urban population is driving the self storage market growth

The sudden surge in rural to urban migration accompanied by the elevation of living spaces in cities with more number of renters who has relocated around more frequently will further contribute to the market growth. London stands to be a best example of this trend with approximately 8.6 million population in 2015, which is projected to touch over 10 million by 2030. This will further add to the self storage market size.

End-Use Segment Drivers

On the basis of the end-use segment, the personal storage will capture a prominent share in the overall self storage market during the forecast period. The increasing inclination of housing market towards scaling down to small and condensed living space is the foremost factor supplementing the growth of the market. Further, this has persuaded the house owners to retain or discard objects that demand space. Moreover, the buildings include a self-storage locker in the developed countries, which accounts to be a prime profit generating sources in the real estate sector.

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