Data Storage is Fastest Growing Segment Fueling the Growth of Self-Storage Market

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Data Storage is Fastest Growing Segment Fueling the Growth of Self-Storage Market

The Global Self-Storage Market is estimated to be valued at US$ 55,843.56 Mn in 2023 and is expected to exhibit a CAGR of 5.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Self-storage refers to storage spaces or lockers rented to individuals and businesses on a short-term or long-term basis for personal and/or business use. Self-storage offers a secure and accessible space for customers to store their belongings. The self-storage market has witnessed remarkable growth in recent years given the flexibility and minimal commitment it provides to customers.

Market key trends:

One of the key trends driving the growth of the self-storage market is growing urbanization. Urbanization has led to a rise in population migration from rural to urban areas across the world in search of better employment opportunities and lifestyle. However, small living spaces in urban areas have increased demand for external storage units. Migrated families often store their goods, documents, souvenirs and other essential/non-essential items in self-storage units located nearby until they settle permanently in cities. This trend has significantly driven the demand for self-storage facilities especially in tier-1 and tier-2 cities.

Segment Analysis

The global self-storage market can be segmented based on solution, and application. Based on solution, indoor self-storage is dominating the market as it provides secure and climate controlled space for storage. The climate control and security features make indoor self-storage a preferred choice for storing valuable and sensitive items.

Key Takeaways

The Global Self-Storage Market is expected to witness high growth, exhibiting CAGR of 5.2% over the forecast period, due to increasing urbanization and changing lifestyles.

Regional analysis

North America dominates the global self-storage market with a share of over 35% in 2023. The US accounts for the major share in the region due to growing real estate prices and small living spaces. Asia Pacific is expected to exhibit the fastest growth over the forecast period due to rapid urbanization and economic growth in countries such as China and India.

Key players

Key players operating in the self-storage market are Global Self Storage Inc., U-Haul International Inc. (Amerco), Urban Self Storage Inc., Life Storage Inc., Amsdell Cos./Compass Self Storage, CubeSmart LP, All Storage, National Storage Affiliates Trust, National Storage REIT, Safestore Holdings PLC, (Great Value Storage) World Class Capital Group LLC, Simply Self Storage Management LLC, SmartStop Asset Management LLC, StorageMart, Metro Storage LLC, Prime Storage Group, and W. P. Carey Inc. Global Self Storage Inc. dominates the market with largest number of owned facilities across United States.

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Real-Time PCR is fastest growing segment fueling the growth of Salmonella Testing Market

samruddhicmi123 2023-11-16

The Global Salmonella Testing Market is estimated to be valued at US$ 2. Increased regulatory focus on food safety and shorter time-to-result are major factors driving increased uptake of real-time PCR based Salmonella testing. Segment Analysis The global Salmonella Testing market is segmented by test type, technique, end use, and region. Key Takeaways The Global Salmonella Testing Market is expected to witness high growth, exhibiting a CAGR of 7. This is attributed to stringent food safety regulations and rising awareness regarding food safety in the region.

Salmonella Testing Market Is Estimated To Witness High Growth Owing To Opportunity For Improving Food Safety

Ashish Thapa 2024-01-31

The growing concerns regarding foodborne illness coupled with stringent government regulations for food safety are propelling the demand for effective salmonella testing solutions. The global Salmonella Testing Market is estimated to be valued at US$ 3. Switching from traditional testing methods to rapid and reliable testing solutions will further aid in improving food safety and public health. Key Takeaways The global Salmonella Testing Market Size is expected to witness high growth at a CAGR of 7. Key players operating in the Salmonella Testing market are Methanex Corporation, Carbon Recycling International, BioMCN, Enerkem, Chemrec Inc.

Salmonella Testing Market Sees Promising Growth Prospects Backed by Stringent Food Safety Regulations

Leena Shedmake 2023-09-08

The market provides testing solutions for the detection of Salmonella bacteria in various food products, ensuring food safety and preventing foodborne illnesses. 8% over the forecast period, driven by increasing awareness about food safety and stringent regulations imposed by regulatory authorities. - North America is expected to dominate the market during the forecast period, owing to the presence of well-established food manufacturers, strict food safety guidelines, and advanced testing infrastructure. In conclusion, the Salmonella testing market is poised for substantial growth in the coming years, driven by the increasing focus on food safety and regulatory compliance. As the market continues to evolve, key players are likely to play a crucial role in shaping its growth trajectory through product innovations and strategic collaborations.

Salmonella Testing Market is driven by Stringent Food Safety Regulations

Lucy Kart 2024-02-29

The global Salmonella Testing market is estimated to be valued at US$ 3. Key Takeaways Key players operating in the Salmonella Testing market are Methanex Corporation, Carbon Recycling International, BioMCN, Enerkem, Chemrec Inc. Impact of geopolitical situation on Salmonella Testing market growth: The current geopolitical instability across several regions is negatively impacting the growth of the Salmonella Testing market. Regionally concentrated Salmonella Testing market: In terms of value, North America currently dominates the Salmonella Testing market due to stringent food safety norms and massive processed food industry in the region. Fastest growing region for Salmonella Testing market: Asia Pacific region holds immense growth potential for the Salmonella Testing market and is projected to emerge as the fastest growing region during the forecast period.

Navigating the Landscape: Insights into the Salmonella Testing Market

Sneha 2024-04-25

The Salmonella Testing Market has witnessed significant growth in recent years, driven by the increasing incidence of foodborne illnesses worldwide. SWOT AnalysisA SWOT analysis offers valuable insights into the internal strengths and weaknesses of the Salmonella Testing Market, along with external opportunities and threats. Geographical RegionsThe Salmonella Testing Market exhibits varying dynamics across different geographical regions. The Salmonella Testing Market holds immense potential for growth, driven by increasing concerns regarding food safety and regulatory compliance. Get more insights on Salmonella Testing Market

TRAVEL APP DEVELOPMENT: USEFUL TIPS & TRICKS TO START A TRAVEL SERVICE

dan peter 2019-12-30

Earlier, people used to get help from travel agencies to plan their trips. But now, thanks to technology, support is available in just a few clicks. This created a demand for swift and accurate processing strategies to be incorporated. Research and Analysis To be successful in any industry, it is essential to know the market trends as people would prefer something relatively new and innovative. If you ask me how this could be useful, here is the answer - If it is hot outside, the customers could reduce the room temperature so that when they enter they could find solace in their rooms. This helps the hoteliers to create a good first impression.

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