I mostly just use cheap wall hooks to hang my bikes vertically in the garage, with a few bike specific hangers costing a bit more in use over the years.

I can't really convince my self to pull $1 - $10 dealies out of the wall and spring for $400 - $500 dollar replacements, but this is just so cool:

Of course, to make the investment worthwhile I'd have to remove the kayaks (and other junk)  from the floor in front of the wall where our bikes are hanging...

Oops, after hitting save, noticed typo in title.

John it’s a  clever design but the stored bike is still taking up a lot of air space, and would be an obstruction in a garage or storeroom. I hang my bikes flush along a wall on a couple of simple wall hooks for the top bar to rest on. This keeps the floor area a bit clearer. 

Graham

That's true for one or two, but we have so many bikes (and no garage) and not enough wall space!  At one point, we had 4 dual-suspension mountain bikes in the collection and those are real space hogs.

We have a shed outside for bikes; up to 7 can hang vertically in there.  Only two or three can be removed without having to take other bikes out first, though.  It's a little less cramped now that two of the MTBs have left with the boys.  And just this past week we gave away the last bike that was hanging exposed and rusting in the carport.

The good bikes live in the house.  When the last kid moved out last summer, we converted his room in the basement into a bike room.  (He still has two bikes in the shed.)  In the bike room, two bikes hang vertically, one hangs horizontally, and one more leans on the wall below.  One more hangs vertically in the stairwell with a pulley system.  The old road bikes are in the attic.  We're not ready to say goodbye to any of them yet.

Jacquie aha I see. That’s a much bigger bike storage challenge than I envisaged. So yes it seems you could use a few of those devices, and perhaps a few other clever storage solutions.

Bicycles do have an innate ability to take up a lot more space than one would expect such a simple machine to occupy.