Market Size of Switzerland Self-Storage Industry
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
Forecast Data Period | 2024 - 2029 |
Historical Data Period | 2019 - 2022 |
CAGR | 3.70 % |
Market Concentration | Medium |
Major Players*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Switzerland Self-Storage Market Analysis
The Switzerland self-storage market is expected to grow at 3.7% CAGR during the forecast period. The requirement for more space for belongings depends on several changes in a person's lifestyle, like moving home, getting married, and retiring. With the increased urbanization and apartments in major Swiss cities gradually getting smaller and more expensive, many people in the country are finding they are running out of the room. Self-storage solutions have stepped in to cater to this rising consumer need, and as provision steadily grows, it appeals to investors.
- In an increasingly challenging and crowded real estate market, the investors may see the uneven development of the self-storage industry in Switzerland as an opportunity with high potential. In a significant population of Switzerland, self-storage is being called a solid, recession-proof investment. In some cities, with income growth in mind, self-storages are even being higher adoption levels that almost match more traditional asset classes.
- As the GDP per capita of Switzerland has increased in the last financial year, i.e., 2019, which defines a strong potential of the country's self-storage market. For instance, according to OECD, in 2019, the GDP per capita has observed significant growth of 2.3% compared to the previous fiscal year.
- Though a considerable number of conventional self-storage facilities are based upon adapted premises of different use, this is changing as vendors become more sophisticated. Such an approach is expected to be essential and appealing to institutional investors looking for long-term, resilient income streams in the country.
- In the coming years, the self-storage industry in Switzerland is expected to benefit from the accurate cloud solutions that give operators of all sizes the tools they need to view the renter activity, remote access accounting, and payment data. These cloud solutions also help in inventory management, update software/firmware, see onsite device health, troubleshoot remotely, and even use predictive analytics to keep and upsell customers.
- Swiss government responded to the COVID-19 pandemic by putting significant restrictions on their societies and economies in March, which prompted a significant decline in global trade and in demand for Swiss exports. The Swiss State Secretariat for Economic Affairs (SECO) forecasts that manufacturing output will fall by approximately 25% of total economic added value compared to the previous financial year. If Switzerland moves into a V-shaped recession, the GDP of the country will decline by 7% in 2020. Also, the rate of unemployment will increase to 4% from 2.3% in 2019 as a result of the recession. As the enterprises are observing a loss due to the economic downturn, it will severely affect the country's self-storage market.
Switzerland Self-Storage Industry Segmentation
The self-storage solutions offer value to continue protection from environmental damage and theft by providing cost-effective storage solutions. The study scope of the Switzerland self-storage market tracks down the adoption of different self-storage solutions used by business customers and domestic consumers. The study also focuses on the impact of COVID-19 on the market ecosystem. In the study scope, the existing storage provider landscape also covered, which consists of major players operating in the market.
Self-storage Type | |
Consumer | |
Business |
Switzerland Self-Storage Market Size Summary
The self-storage market in Switzerland is poised for growth, driven by urbanization and the increasing need for space due to smaller living conditions in major cities. As urban areas expand and living costs rise, more individuals and businesses are seeking self-storage solutions to accommodate their belongings. This trend is attracting investors, as the self-storage industry is viewed as a resilient and potentially lucrative investment opportunity. The market is characterized by a mix of traditional and modern facilities, with advancements in cloud technology enhancing operational efficiency and customer experience. These developments are expected to appeal to institutional investors looking for stable income streams.
The competitive landscape of Switzerland's self-storage market includes a mix of global and regional players, with a significant portion of the market catering to business customers. The demand from businesses for flexible storage solutions, such as meeting rooms and distribution spaces, has led to a higher occupancy rate among commercial clients compared to residential ones. This shift is supported by strategic expansions and innovations from key players in the market. Despite challenges posed by economic fluctuations, the self-storage sector remains a promising area for growth, with ongoing investments in smart city developments and urban infrastructure expected to further drive market expansion.
Switzerland Self-Storage Market Size - Table of Contents
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1. MARKET INSIGHTS
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1.1 Market Overview
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1.2 Industry Attractiveness - Porter's Five Forces Analysis
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1.2.1 Threat of New Entrants
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1.2.2 Bargaining Power of Buyers/Consumers
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1.2.3 Bargaining Power of Suppliers
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1.2.4 Threat of Substitute Products
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1.2.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Self-storage Type
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2.1.1 Consumer
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2.1.2 Business
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Switzerland Self-Storage Market Size FAQs
What is the current Switzerland Self-Storage Market size?
The Switzerland Self-Storage Market is projected to register a CAGR of 3.70% during the forecast period (2024-2029)
Who are the key players in Switzerland Self-Storage Market?
Zebrabox Switzerland, Casaforte (SMC Self-Storage Management), Secur’ Storage, Homebox Switzerland and MyPlace are the major companies operating in the Switzerland Self-Storage Market.