Storebox, for example, a Europe-wide provider that is opening new locations in Germany, has digitized the entire process. From selecting a storage unit to making a reservation, everything can be handled online via the website or a mobile app. Smart sensors also measure the temperature, humidity, and access activity in the rented storage unit in real time.
James-Box, another innovative provider, offers a pickup and redelivery service for businesses or self-employed individuals who lack storage space at their workplace. Tenants don’t even have to leave their office to use this service. James-Box also handles administration quickly and securely online; users have access to their rental units at any time via a free web app.
Storage Space for Individuals and Businesses—A Growing Market
Storage solutions can also be useful for private individuals. Due to rising rents, for example, and the resulting desire for smaller apartments (particularly in major cities), younger city dwellers in particular are shifting toward the sharing economy—including when it comes to flexibly bookable storage space. Under the motto “Why buy when I can share?”, vehicles, bicycles, and everyday items are shared in a spirit of solidarity. Since garages or basements are often in short supply in densely populated areas, this is frequently a necessary consequence.
Surveys by the Federation of European Self-Storage Associations revealed that as early as 2014, the industry in Europe generated revenue of more than 900 million euros from approximately 750,000 tenants of “self-storage” facilities. In 2017, the European market had about 3,000 self-storage facilities. Incidentally, the trend toward outsourcing storage began in the U.S. in the 1960s. Today, Public Storage is the largest U.S. provider of storage units. The market leader operates more than 2,000 locations in the U.S. and 219 in Europe. Its market capitalization most recently stood at just under 37 billion U.S. dollars. So, as demand has grown, storage space has become a thriving business.
