Next-Generation Self-Storage: Leveraging IoT Technology to Drive Revenue Growth

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Oct 04, 2023, 08:53 ET

Self-storage market is embracing IoT for remote site management, automation

DALLAS, Oct. 4, 2023 /PRNewswire/ -- Parks Associates' latest white paper, "Next-Generation Self-Storage: Leveraging Technology to Grow Revenue," addresses the evolving landscape of self-storage and the role of technology in driving revenue growth. The research, published in partnership with Vantiva, formerly known as Technicolor, examines the evolution taking place in the self-storage industry, where owners and operators are leveraging IoT to offer new services to their customers, drive operational changes such as remote site management, and automate processes to save on costs and increase convenience.

Next-Generation Self-Storage: Leveraging IoT Technology to Drive Revenue Growth

The COVID-19 pandemic triggered a surge in demand for self-storage solutions as households worldwide adjusted their living spaces to accommodate remote work and home renovations. Since then, the industry has witnessed a gradual slowdown in demand, compelling companies to reevaluate their strategies.

"Self-storage providers have turned to technology as a cornerstone of their growth strategy," said Kristen Hanich, Research Director, Parks Associates. "The integration of Internet of Things (IoT) technologies and digital platforms is becoming pivotal. Companies are investing in upgrading their facilities and adopting IoT solutions to streamline operations, enhance security, and provide convenient, automated experiences for their customers."

The white paper, based on in-depth interviews with self-storage owners and operators, uncovers the key trends shaping the market and highlights areas where technology is driving positive change. It looks at the many roles of these technologies in facilities, the key benefits, and the challenges and best practices recommended by industry leaders.

"As the self-storage industry navigates these transformative times, technology remains a driving force in ensuring and maximizing its growth and competitiveness," said Reza Raji, Senior VP of Smart Spaces IoT at Vantiva.

For data requests or to speak with an analyst, contact Mindi Sue Sternblitz-Rubenstein at [email protected].

About Parks Associates

Parks Associates, a woman-founded and certified business, is an internationally recognized market research and consulting company specializing in emerging consumer technology products and services. Founded in 1986, Parks Associates provides business intelligence and research services through its proprietary methodologies developed over decades, including quarterly surveys of 10,000 internet households.

The company's expertise crosses many industries: home security and smart home, streaming video, broadband and pay-TV services, digital media and platforms, gaming, Wi-Fi and home networks, connected health, support, consumer electronics, home control systems, energy management, and tech solutions for the multi-dwelling (MDU), small-to-medium business (SMB), and commercial building markets.

Each year, Parks Associates brings thousands of leaders together for its webinars and annual events. The firm hosts the annual executive research and strategy conferences CONNECTIONS™, Connected Health Summit, Smart Energy Summit, Smart Spaces, and Future of Video. http://www.parksassociates.com

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Media Contact:

Mindi Sue Sternblitz-Rubenstein
Parks Associates
972.490.1113
[email protected]

SOURCE Parks Associates