The self storage industry has shown resilience during tough times, even during the pandemic. It is now faced with the challenge of technological advancement. Technology has its share in major self storage processes, from increasingly efficient security systems to management software.
Traditionally, self storage is not considered a “high-tech” business. However, nowadays, emerging technologies in the modern world have streamlined self storage business practices. They have brought a radical change to the industry.
To understand how emerging technologies are disrupting the self storage industry, read the popular technology trends mentioned below.
5 Popular Self Storage Technology Trends
The self storage industry might not seem high-tech, but nowadays, this industry is significantly influenced by modern technology. Here is how emerging technologies are disrupting the self storage industry practices.
Security is one of the foremost concerns for a self storage business, and technology ensures its maintenance. The access control and remote monitoring of storage facilities is made possible using access control software.
Several modern storage facilities use this software to keep a check on the security of the storage facility. The software is usually integrated with an access control keypad that only allows authorised access to customers through their mobile applications. This eliminates the risk of unauthorised access to the facility or security breakouts.
Automation has been booming for a long time and has grown exceptionally after the pandemic. Businesses automate everything from security measures to routine operations for enhanced business efficiency.
You can find an all-inclusive modern self storage management software to automate the operations of the storage facility. Such software also facilitates customers through remote booking and billing via their mobile app. As a result, both businesses and customers gain contactless access to business according to their individual needs.
As with other industries, robotics are also disrupting the self storage industry in modern times. Robotic solutions have transformed the storage industry’s practices drastically. From enhanced security to automated operations, they help create an efficient management system.
The use of robotics in storage facilities makes inventory handling easier. Usually, big warehouses and self storage facilities integrate robotic systems into their operations. It makes the handling process convenient and saves time.
Big Data Decisions
Big data is another popular emerging technology that has disrupted decision-making in the self storage industry. Storage facility owners use big data to make strategic decisions for their businesses to improve their profitability. Big data has versatile applications in decision-making.
Self storage businesses can use it for cost estimation and demand forecasts. It also helps in making impactful marketing decisions. Additionally, tracking all other important data, such as rental, income, occupancy, and reservations enables you to stay on top of industry trends with efficient decision-making.
Self storage businesses and customers are always looking for the best locks with foolproof security. The technological advancement in the industry has made Bluetooth and biometric locks popular. Bluetooth locks are linked to the device and only unlock when the device owner accesses it.
Biometric locks, as the name refers, operate with the fingerprints of the authorised person. The fingerprint sensor on the locks detects the authentic user and will lock and unlock the storage unit for them only. The locks can be linked with the security system that can safely store hundreds of profiles to enhance self storage security.
Currently, emerging technologies have taken the self storage industry by storm. They have transformed various business functions from self storage marketing to maintenance of records and ensuring security. The growing competitiveness in the industry requires businesses to adapt to the latest technologies, so they do not fall behind.
Frequently Asked Questions
What is the future of the self storage industry?
The self storage market is expected to grow at a CAGR of 7.53% between 2022 and 2027. As a result, it will become an $83.6 billion industry by the end of 2027. Emerging technologies will dominate the future of the self storage industry.
Why is self storage booming?
Self storage is booming because of the high customer demand. One reason for the increased demand is the work-from-home trend that emerged post-pandemic. People declutter and reorganise their homes to get extra workspace. They also need storage facilities while moving their houses.
Which emerging technologies radically improve self storage practices?
Big data, automation, and Artificial Intelligence are some emerging technologies that radically improve self storage practices. These technologies help self storage businesses offer their customers a more personalised experience and improve their profitability.
Is self storage still a good investment?
Yes, self storage is still a good investment. This industry is in a booming trend that is expected to continue in the future. The low break-even points and operational costs make it a profitable investment.
What drives demand for self storage?
Downsizing is the major driver of demand for self storage. Moving home, reorganising, and lifestyle changes are also major demand drivers in the self storage industry.