The rise of Storage Spaces and it's future

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With rapid development and growth, space has become a major constraint in today’s world. One of the surest bets in real estate over the last half century is the storage space sector. These are spaces rented to tenants, on a short-term basis. These include businesses or for individual purpose. In fact the storage space industry is now worth $38 billion industry.

 With the rapid growth of e-commerce firms such as Amazon, Flipkart and companies such as IKEA, Home Centre etc in India, the demand of storage spaces is on the rise rapidly. This calls for solving the issues of growth and investment on this upcoming reality.



THE PEEK INTO THE INDUSTRY:-

 The storage units are typically window-less, walled with corrugated metal, and lockable by the renter.
A controlled access facility may employ security guards, security cameras, individual unit door alarms and some means of electronic gate access such as a keypad or proximity card. A few facilities even use bio-metric thumbprint or hand scanners to ensure that access is granted only to those that rent, thus acting as a safe locker.

Self-storage facility operators frequently provide 24-hour access, climate controlled storage, outdoor storage for RVs and boats, and lights or power outlets inside the storage unit as amenities to set themselves apart from competitors.
Some storage facilities have open roofs; some have full covered tin roofs providing added security and privacy.

 The self-storage industry is primarily a United States-based industry, with some popularity in Europe too.


•Self-Storage In India:

 Only in urban pockets in India, people are aware and benefit from this service. It would require a lot of time educating and explaining the process to general public for its success.

 Some Indian self-storage companies include:

1)   Selfstorage India

2)  YourSpace

3)  StoreMore(US based with Indian branch)

4)  Orange Self Storage

5)  And many more..

WHY STORAGE SPACES ARE THE FUTURE?
With real estate prices going up and with the economic growth of the country, purchasing power are increasing, this leads to basic problem: space constraint.
Most storage facilities offer insurance for purchase, flexible rental rates and many more incentives which are beneficial to consumers as well.

 Global giants like IKEA, Amazon need storage space to store their goods. IKEA needs home storage services on a large scale. And all these will lead to a bloom and growth in this sector in the coming years,


                                                                     -      Sonal Bera




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