In recent years much effort has been concentrated towards achieving polynomial time lower bounds on algorithms for solving various well-known problems. A useful technique for showing such lower bounds is to prove them conditionally based on well-studied hardness assumptions such as 3SUM, APSP, SETH, etc. This line of research helps to obtain a better understanding of the complexity inside P. A related question asks to prove conditional space lower bounds on data structures that are constructed to solve certain algorithmic tasks after an initial preprocessing stage. This question received little attention in previous research even though it has potential strong impact. In this paper we address this question and show that surprisingly many of the well-studied hard problems that are known to have conditional polynomial time lower bounds are also hard when concerning space. This hardness is shown as a tradeoff between the space consumed by the data structure and the time needed to answer queries. The tradeoff may be either smooth or admit one or more singularity points. We reveal interesting connections between different space hardness conjectures and present matching upper bounds. We also apply these hardness conjectures to both static and dynamic problems and prove their conditional space hardness. We believe that this novel framework of polynomial space conjectures can play an important role in expressing polynomial space lower bounds of many important algorithmic problems. Moreover, it seems that it can also help in achieving a better understanding of the hardness of their corresponding problems in terms of time.