IT Asset Management Statistics


Steve Goldstein
Steve Goldstein
Business Formation Expert
Steve Goldstein runs LLCBuddy, helping entrepreneurs set up their LLCs easily. He offers clear guides, articles, and FAQs to simplify the process. His team keeps everything accurate and current, focusing on state rules, registered agents, and compliance. Steve’s passion for helping businesses grow makes LLCBuddy a go-to resource for starting and managing an LLC.

All Posts by Steve Goldstein →
Business Formation Expert  |   Fact Checked by Editorial Staff
Last updated: 
LLCBuddy™ offers informative content for educational purposes only, not as a substitute for professional legal or tax advice. We may earn commissions if you use the services we recommend on this site.
At LLCBuddy, we don't just offer information; we provide a curated experience backed by extensive research and expertise. Led by Steve Goldstein, a seasoned expert in the LLC formation sector, our platform is built on years of hands-on experience and a deep understanding of the nuances involved in establishing and running an LLC. We've navigated the intricacies of the industry, sifted through the complexities, and packaged our knowledge into a comprehensive, user-friendly guide. Our commitment is to empower you with reliable, up-to-date, and actionable insights, ensuring you make informed decisions. With LLCBuddy, you're not just getting a tutorial; you're gaining a trustworthy partner for your entrepreneurial journey.

IT Asset Management Statistics 2023: Facts about IT Asset Management outlines the context of what’s happening in the tech world.

LLCBuddy editorial team did hours of research, collected all important statistics on IT Asset Management, and shared those on this page. Our editorial team proofread these to make the data as accurate as possible. We believe you don’t need to check any other resources on the web for the same. You should get everything here only 🙂

Are you planning to form an LLC? Maybe for educational purposes, business research, or personal curiosity, whatever the reason is – it’s always a good idea to gather more information about tech topics like this.

How much of an impact will IT Asset Management Statistics have on your day-to-day? or the day-to-day of your LLC Business? How much does it matter directly or indirectly? You should get answers to all your questions here.

Please read the page carefully and don’t miss any words.

Top IT Asset Management Statistics 2023

☰ Use “CTRL+F” to quickly find statistics. There are total 21 It Asset Management Statistics on this page 🙂

IT Asset Management “Latest” Statistics

  • The market growth for asset management systems is expected to continue at a CAGR of 10.3% between 2020 and 2025.[1]
  • The working capital locked up in inventory is equivalent to 7% of the U.S Gross Domestic Product.[1]
  • Despite the need for adequate security, research has found that 35% of corporate data is not safeguarded at all.[1]
  • There was a situation with a medical institution in New England where, after implementing a tagging system, dangerous administration mistakes plummeted by a startling 41%.[1]
  • The Knight Foundation started a program in 2010 to diversify the management of its endowment assets, and as of June 2018, it has invested $830 million in enterprises controlled by people of color, accounting for 36% of its endowment holdings.[2]
  • Statista projects that the worldwide market for fixed asset management software will increase from $3 billion in 2019 to $5.2 billion in 2024.[3]
  • Firms lost over 51.2 million worth of heavy machinery, trucks, and equipment between 2004 and 2014.[3]
  • The results show that 80% of workers squander, on average, 30 minutes each day looking for information.[3]
  • Businesses in 2017 spent an average of 80% of their time responding to maintenance problems rather than avoiding them.[3]
  • In 2020, retail investors were the primary source of net inflow, accounting for 4.4% of net new capital raised, more than double the amount contributed by institutional investors by 2.2%.[4]
  • Retail portfolios, accounting for 41% of global assets at 42 trillion, increased by 11% in 2020, while institutional investments, accounting for 59% of the market, also increased at a similar rate to reach 61 trillion.[4]
  • The USD100 trillion machine has recovered from the worldwide pandemic in good shape, with assets expected to expand by 11% in 2020 to reach 103 trillion by year’s end.[4]
  • Assets under management increased by 12% to reach 49 trillion in 2020, continuing the biggest asset management expansion double-digit trend.[4]
  • Financial managers’ employment is anticipated to expand by 17% between 2021 and 2031, which is substantially faster than the average for all professions.[5]
  • AUM increased by 13% while total revenues and operating profits increased by 7% and 9%, respectively.[6]
  • Last but not least, the industry’s cost base increased by $8 billion at a quicker rate than in the pre-epidemic years of 6% vs. a longer-term average of 4%.[6]
  • However, the best quartile of conventional asset managers that are publicly traded trade on average at a premium of around 50% to the sector.[6]
  • In North America, AUM increased 13% in 2020, driven by net fresh flows of 2.3%, which were much higher than the average over the previous five years.[6]
  • Growth extended beyond asset appreciation, with net new client flows clocking in at an astonishing 2.7% of the beginning-of-year.[6]
  • Following a 34% decline in U.S. stock markets in March 2020, the financial markets recovered even more sharply, with share values slowly rising to 34% above pre-COVID-19 highs by the end of August 20.21.[6]
  • When businesses follow best practices to maximize the utilization of assets and software licenses, they may save expenditure by up to 30%.[7]

Also Read

How Useful is It Asset Management

First and foremost, IT asset management is crucial for maintaining an accurate inventory of all the hardware and software assets within a company. This includes everything from computers and servers to applications and licenses. With a clear picture of what assets are owned and how they are being utilized, businesses can make more informed decisions about their IT investments and avoid unnecessary spending on duplicate or underutilized assets.

Beyond the basics of inventory management, IT asset management can also help businesses improve the efficiency and security of their IT infrastructure. By keeping track of software licenses and ensuring compliance with vendor agreements, companies can avoid costly penalties and legal issues. Additionally, tracking hardware assets can help identify outdated or vulnerable devices that need to be updated or replaced to prevent security breaches.

But perhaps the most valuable benefit of IT asset management is its ability to streamline and optimize business processes. By tracking the lifecycle of assets from procurement to disposal, companies can better manage their resources, reduce waste, and improve overall efficiency. This can lead to cost savings, increased productivity, and a more agile and competitive business model.

In a world where technology is at the core of almost every business operation, having a comprehensive IT asset management strategy is no longer optional – it’s a necessity. It can mean the difference between success and failure, growth and stagnation, innovation and obsolescence.

Of course, implementing and maintaining an effective IT asset management program is not without its challenges. It requires time, resources, and organizational buy-in. It also requires a commitment to regular audits and updates to ensure that the inventory remains accurate and up-to-date.

However, the benefits far outweigh the costs. Companies that invest in IT asset management are better positioned to adapt to changing technologies, market conditions, and regulatory requirements. They are more agile, more secure, and more efficient. They can make data-driven decisions that drive growth and profitability.

In conclusion, the usefulness of IT asset management cannot be overstated. It is a powerful tool for businesses looking to optimize their IT investments, improve security and compliance, and streamline their operations. It is a strategic imperative for any company serious about leveraging technology to drive success in today’s digital economy.

Reference

  1. gocodes – https://gocodes.com/asset-management-statistics/
  2. knightfoundation – https://knightfoundation.org/reports/diversifying-investments-a-study-of-ownership-diversity-and-performance-in-the-asset-management-industry/
  3. assetinfinity – https://www.assetinfinity.com/blog/business-statistics-and-how-asset-management-software-overcomes-them
  4. bcg – https://www.bcg.com/publications/2021/global-asset-management-industry-report
  5. bls – https://www.bls.gov/ooh/management/financial-managers.htm
  6. mckinsey – https://www.mckinsey.com/industries/financial-services/our-insights/crossing-the-horizon-north-american-asset-management-in-the-2020s
  7. servicenow – https://www.servicenow.com/products/it-asset-management/what-is-itam.html

Leave a Comment