Self storage is set to undergo many changes in 2018 and beyond. Back in 2015, industry revenue was projected to exceed $30 billion. According to these same forecasts, growth would continue at a rate of roughly 3 percent through 2020. This year has seen moderate revenue growth. Current forecasts call for growth of 3 to 5 percent in revenue increase by year’s end.
As our industry outlook remains positive. A series of significant developments in the first quarter of this year will contribute to my industry’s growth. Briefly, here are some trends in self storage:
Artificial intelligence, machine learning, and the like are redefining the landscape for many industries. Self storage is gradually becoming less of a stranger to its benefits.