IT Asset Management Statistics


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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.

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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]

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How Useful is It Asset Management

One of the key benefits of effective IT asset management is improved asset utilization. By carefully tracking the location and condition of IT assets, organizations can ensure that resources are fully utilized and not sitting idle or underused. This can lead to cost savings and increased efficiency, as organizations can avoid unnecessary purchases and redeploy existing assets to where they are most needed. Additionally, IT asset management can help organizations identify and eliminate redundancies in their IT infrastructure, further enhancing efficiency and reducing waste.

Another important benefit of IT asset management is enhanced security and compliance. In today’s digital era, data breaches and cyber attacks are a constant threat to organizations of all sizes. Properly managing IT assets allows organizations to maintain an accurate inventory of their resources and ensure that they are adequately protected against security threats. By keeping track of software licenses and updates, organizations can also ensure compliance with licensing agreements and regulatory requirements, avoiding costly penalties and legal issues.

Moreover, IT asset management can play a crucial role in strategic decision-making and planning. By providing a clear picture of an organization’s IT infrastructure, including its strengths, weaknesses, and potential areas for improvement, IT asset management enables organizations to make informed decisions about investments in new technologies, upgrades, and renovations. This can help organizations stay ahead of the curve in terms of technology adoption and innovation, positioning them for long-term success and competitiveness in the market.

Furthermore, effective IT asset management can improve productivity and streamline business processes. By providing employees with the tools and resources they need to perform their jobs effectively, IT asset management can enhance workflow efficiency, reduce downtime, and boost overall productivity. Additionally, having clear visibility into IT assets can help organizations identify and address performance bottlenecks and other issues that may be hindering productivity, leading to faster problem resolution and smoother operations.

In conclusion, IT asset management is a critical component of modern business operations that offers a wide range of benefits, from cost savings and efficiency improvements to enhanced security and strategic insight. By investing in IT asset management practices and tools, organizations can ensure that their IT resources are being utilized effectively, securely, and in alignment with their overall business goals. As technology continues to be a driving force in today’s economy, the value of IT asset management will only continue to grow, making it an indispensable tool for organizations looking to stay competitive and successful in the digital age.

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

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