Self-Storage Software Market Size, Share, and Industry Analysis, By Deployment (Public Cloud and Private Cloud); By End-user (Large Enterprises and SMEs), By Function (Unit Management, Billing & Payment, Customer Management, Security & Access Control, Reporting & Analytics, and Others); and Regional Forecast, 2024-2032

Self-storage software is a platform that helps self-storage operator to remotely manage and monitor self-storage unit efficiently while having the key information pieces readily available. The software automates business operations, including tracking, invoicing storage units, and helps businesses to take better decisions using detailed business data analytics. The software include features automated online payments, bill automation, invoice reminders, digital documentation, customized booking portal, and interactive site map. The demand for the software is increasing as the trend of self-storage is surging. According to StorageCafe, self-storage has grown more than 1.6 billion sq.ft. of space in 2023.  

The global urban population has reached around 55% in 2022 and due to this, urban population is widely adopting self-storage spaces as the number of people are moving around more frequently and the increasingly expensive living spaces in cities with reduced travelling areas. The self-storage space demand increased during the pandemic as people needed more storage as they moved or made room in their house for offices to do work from home. As per the Survey by American Community Survey (ACS) in 2021, the number of people working remotely tripled from 5.7% in 2019 to 17.9% in 2021. In addition to remote working flexibilities, according to one survey, some people moved to other place, including 32% of GenZ and millennials who moved back in with their parents during the COVID-19 pandemic.

Impact of Generative AI on the Self-Storage Software Market

The increasing integration of Language Models (LLM) such as ChatGPT into software is an exciting frontier in software development. Generative AI provides valuable real-world aspects that helps self-storage providers and they can get benefits in the near future. These applications turn around enhancing customer experiences, optimizing processes, and improving security. Chatbots are one of the most impactful and significant applications of AI in the self-storage industry. AI-powered chatbots can communicate with customers, handle routine tasks efficiently and answer inquiries. Chatbots offer 24/7 customer support, streamlining the reservation and booking process. These tools can provide personalized recommendations based on the customer's needs and assist self-storage customers in searching for available units and services. For instance, if a customer is looking for a climate-controlled unit for storing their valuable artwork, the chatbots recommends the customer a unit with precise temperature and humidity controls.

Key Insights

The report covers the following key insights:

• Micro Macro Economic Indicators


• Drivers, Restraints, Trends, and Opportunities


• Business Strategies Adopted by Key Players


• Impact of Generative AI on the Global Self-Storage Software Market


• Consolidated SWOT Analysis of Key Players

Segmentation

Analysis By Deployment

By deployment, the market is subdivided into on-premise and cloud. The cloud based self-storage software segment is estimated to showcase the highest CAGR during the forecast period as cloud based software helps companies to access the data from anywhere and anytime. The cloud based software help self-storage providers a way to replace dated practices with updated sales and service channels. Self-storage vendors are investing in cloud computing to offer their products and services in more of a SaaS model than requiring a big upfront investment and ongoing fees for enhancements and other services.

According to Salesforce, around 94% of businesses stated that they saw an improvement in security after switching to cloud and 91% stated that cloud makes it easier for them to meet government compliance requirement. Therefore, the demand for cloud based self-storage is estimated to witness growth.

Regional Analysis

The global self-storage software market is divided into five regions: North America, South America, Europe, the Middle East & Africa, and Asia Pacific. In 2023, a significant share of the market was held by North America, as people in the region opt for storage unit for storing their belongings. According to industry experts, in 2022, there were around 50,000 storage facilities in the U.S. As per Cushman & Wakefield, the U.S. self-storage facilities pay around USD 3.25 billion in property taxes to local government. The U.S. is the heart of self-storage industry as around 90% of self-storage is located in the U.S. as people have a lot of things that they need to store. As per Onedesk survey, around 35 million of people in the U.S. rent a storage unit. Canada is estimated to have second highest market share as Canada have around 3,000 storage facilities and around 9.5% of Canadian households rent a self-storage unit.

The Asia Pacific market is estimated to showcase highest CAGR during the forecast period due to increasing urbanization, awareness, and growth of small businesses. Self-storage units offer strong income with high retention rate of tenants and offer profits higher than multifamily assets and logistics in metro cities in Japan, Australia, and HongKong. Self-storage stock is estimated to grow around 50% in the coming years, reflecting the growth of online retail in the more mature cities of Japan, Australia, and Hong Kong.

Distribution of the Global Self-Storage Software Market, By Region

• North America – 38%


• South America – 9%


• Europe – 26%


• Middle East and Africa – 7%


• Asia Pacific – 20%

Key Players Covered

The report provides the profiles of key players such as Domico Software, RADical Systems, Corrigo Incorporated, Storable Group, U-Haul International, Inc., Syrasoft LLC, QuikStor Security & Software, E-Softsys LLC, and 6Storage.

Key Industry Developments

• March 2024: U-Haul acquired two former Freedom Self-storage properties in Pueblo country. The acquisition would allow U-Haul to meet the demand for its growing customer base in Colorado.   


• May 2023: OpenTech Alliance integrated its INSOMNIAC CIA with RADical Systems, for streamlining the access control management for self-storage operators. The integration would help Europe’s self-storage operators to automate the real-time inventory and access management and tenant code retrieval.