Eye4Storage has announced the launch of a new digital marketplace that matches businesses looking for storage and distribution facilities with warehousing operators around the world.

In a statement, the Dubai-based Eye4Storage said this is a "major advancement" at a time when warehousing vacancies in many markets are at an all-time low.

"The Eye4Storage platform addresses the costly inefficiencies and obstacles in the global warehousing market. It gives warehouse operators the ability to find customers for unused space and assess demand before they undertake expensive expansion studies or start construction of new facilities. It gives customers the ability to do market and requirements-specific searches instantly, and lets them compare rates, start negotiations and act quickly to secure the space they need," said Eye4Storage founder Barry Dekkers.

Eye4Storage noted that this will enable businesses to search for facilities that meet their needs and allows them to look for space that is suitable in terms of location, size, environment, provider expertise.

"By providing a real-time overview and allowing people to apply a filter to match their needs, we reduce the time spent on finding the perfect facility and lower the amount of empty or under-utilized space," Dekkers added.

Eye4Storage is a platform that lets warehouse providers list facilities for rent, sale or flexible, on-demand use. Companies looking for storage space submit searches and get listings of available space.

It said the platform connects providers and searchers to allow them to negotiate directly.

Growth in e-commerce

"The rapid growth of e-commerce and pandemic-driven need for additional inventory in many sectors have led to a shortage of available warehousing space in many markets," it said, adding that it seeks to reduce unused warehouse space across the world.

Citing data from research firm, Interact Analysis, Eye4Storage said in its statement that there were 150,000 warehouses and more than 25 billion square feet of warehouse space globally at the end of 2020.

In spite of the global warehousing crunch, there is space available that is not being used or utilized efficiently.

"Eye4Storage aims to bring clarity and facilitate both searchers and warehouse providers in this US$245 billion market that is expected to touch the $326 billion mark by the end of 2024, according to market intelligence firm Beroe," it added.

Eye4Storage noted that its new space-matching platform will boost efficiency and utilization rates for warehousing operators while shortening search times and lowering overall costs for businesses with storage needs.