Are you looking to add Asset Tracking to your arsenal of tools? Maybe for your business or personal use only, whatever it is – it’s always a good idea to know more about the most important Asset Tracking statistics of 2024.
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How much of an impact will Asset Tracking have on your day-to-day? or the day-to-day of your business? Should you invest in Asset Tracking? We will answer all your Asset Tracking related questions here.
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On this page, you’ll learn about the following:
Best Asset Tracking Statistics
â° Use “CTRL+F” to quickly find statistics. There are total 48 Asset Tracking Statistics on this page đAsset Tracking Benefits Statistics
- What surveyed IT leaders consider the most important potential benefits of SAM Improving systems security, data integrity, and data security (36%). [0]
Asset Tracking Usage Statistics
- Avoiding compliance irregularities (33%) Optimizing software deployment and usage (29%). [0]
Asset Tracking Market Statistics
- Asset Management System Market Asset management systems represent a booming market that is expected to maintain a compound annual growth rate of 10.3% from 2020 to 2025. [1]
- According to Statista, âThe global market for fixed asset management software is forecast to grow from 3 billion U.S. dollars in 2019 to 5.2 billion U.S. dollars in 2024. [2]
- Also, the segment held significant market revenue in 2019 and is estimated to hold market revenue across the forecast period. [3]
- Growing at a CAGR of 28.9%, the market will exhibit lucrative growth in the forecast period. [3]
- Retail portfolios, representing 41% of global assets at $42 trillion, grew by 11% in 2020, while institutional investments grew at a similar pace to reach $61 trillion, or 59% of the global market. [4]
- With expertise across areas such as corporate, structured, distressed and emerging markets, we are able to analyze a broad universe of opportunities of Partners Promoted from Within Approximately 40% of Partners Promoted from Within. [5]
- The Enterprise Asset Management Software market’s value is analyzed according to the key region 2. [6]
Asset Tracking Software Statistics
- According to Statista, âThe global market for fixed asset management software is forecast to grow from 3 billion U.S. dollars in 2019 to 5.2 billion U.S. dollars in 2024. [2]
- According to Verizonâs 2019 Fleet Technology Trends Study, 64% of fleets reported having used GPS fleet tracking software, up from 59% in the previous year. [7]
- Read the Workflow Guide The future of software asset management 72% of organizations lack a solid SAM strategy. [0]
- 83% do not view SAM as a strategic initiative Companies can expect to achieve up to 25% annual savings onsoftware managementcosts by implementing a modern SAM program. [0]
- Avoiding compliance irregularities (33%) Optimizing software deployment and usage (29%). [0]
- Improving position to negotiate software licensing (27%). [0]
Asset Tracking Latest Statistics
- Can you believe that the amount of working capital tied up in inventory equals 7% of the gross domestic product of the United States?. [1]
- As many as 43% of them use manual methods of tracking or do not track inventory at all. [1]
- A staggering 80% of employees waste their time because they donât have the right asset support behind them. [1]
- A 54% Increase in Theft over 2 years!. [1]
- In the past 2 years, 33% of salespeople have experienced asset theft. [1]
- While it differs from industry to industry, 75% of maintenance work should be preventive and 25% reserved for situations that canât be avoided. [1]
- Research has shown that 35% of company data is not protected at all, despite requiring strong security. [1]
- This was the case with a medical facility in New England, where harmful administration errors dropped by a whopping 41% after a tagging system was put in place. [1]
- According to a blog, âOver the 2004 to 2014 period an estimated $51.2 million of heavy plant, equipment and vehicles were stolen from businesses. [2]
- According to the data, â80% of employees waste an average of 30 minutes per day retrieving information.â. [2]
- According to Retail Wire, âOverstocks and outof stocks cost retailers $1.1 trillion globally in lost revenue. [2]
- Overstocks are responsible for 3.2 percent in lost revenue for the average retailer, and outof. [2]
- As per the capterra blog in 2017, âBusinesses, on average, spend 80% of their time reacting to maintenance issues that arise rather than preventing them.â. [2]
- âAs of 2015, 25 percent of the global data required security but was not protected. [2]
- That number was projected to increase to 45 percent in 2025.â. [2]
- On average, there is 5 to 10 percent of ghost assets exist in every organization. [2]
- Asia Pacific Largest Market North America CAGR 15 %. [7]
- Market Overview Asset Tracking Market was valued at USD 17.14 billion in 2020 and is expected to reach USD 34.82 billion by 2026 at a CAGR of 13.45% during the forecast period 2021. [7]
- According to Cisco, over the next decade, the logistics industry, with the implementation of IoT, is likely to generate USD 1.9 trillion, as a result of unlocking higher levels of operational efficiency. [7]
- According to the data from Select USA, business logistics costs in the United States reached USD 1.6 trillion in 2018, which was 8% of the countryâs GDP, indicating the high level of activities in the region. [7]
- The Asset Tracking Market is growing at a CAGR of 15% over the next 5 years. [7]
- 43% still track IT assets in spreadsheets. [0]
- 56% donât manage the entire lifecycle of their assets More than 60% of IT professionals are missing key information in their ITAM program to effectively manage their assets from procurement to disposal, according to Ivanti. [0]
- 29% of IT organizations spend excess staff hours trying to reconcile inventory and assets 28% spend excess hours dealing with outofwarranty and outof support policy assets, according to Ivanti. [0]
- Businesses that successfully implement ITAM can achieve up to a 30% cost savings in the first year, and at least 5% savings in each of the subsequent five years. [0]
- 74% have not created a formal SAM function. [0]
- The $100 Trillion Machine has emerged from the global pandemic in a position of strength, with assets growing by 11% in 2020 to end the year at $103 trillion. [4]
- Retail investors were the main driver of net inflow, contributing 4.4% of net new capital in 2020, twice the size of the contribution made by institutional investors (2.2%). [4]
- The world’s largest asset management region, North America, delivered another year of double digit growth in 2020, with assets under management increasing by 12% to reach $49 trillion. [4]
- Growth was also strong in Europe (10%), Asia Pacific (11%), and the Middle East and Africa (12%). [4]
- Yet across the board, profitability was largely flat in comparison with 2019, as costs and fee compression kept operating profits hovering at around 34% of net revenues. [4]
- According to the Bureau of Labor Statistics , financial managers earned a median annual wage of $129,890 in 2019, and many employers seek applicants with a masterâÂÂs degree in finance, accounting, economics, or business administration. [8]
- According to the Australian Bureau of Statistics, more than 60 percent of small business close their doors for good within their first three years, scary but true. [9]
I know you want to use Asset Tracking Software, thus we made this list of best Asset Tracking Software. We also wrote about how to learn Asset Tracking Software and how to install Asset Tracking Software. Recently we wrote how to uninstall Asset Tracking Software for newbie users. Donât forgot to check latest Asset Tracking statistics of 2024.
Reference
- servicenow – https://www.servicenow.com/workflow/learn/what-is-it-asset-management/key-statistics-it-asset-management/.
- gocodes – https://gocodes.com/asset-management-statistics/.
- assetinfinity – https://www.assetinfinity.com/blog/business-statistics-and-how-asset-management-software-overcomes-them.
- fortunebusinessinsights – https://www.fortunebusinessinsights.com/industry-reports/hospital-asset-management-systems-market-100625.
- bcg – https://www.bcg.com/publications/2021/global-asset-management-industry-report.
- goldentree – https://www.goldentree.com/firm.
- taiwannews – https://www.taiwannews.com.tw/en/news/4446533.
- mordorintelligence – https://www.mordorintelligence.com/industry-reports/asset-tracking-market.
- coursera – https://www.coursera.org/courses?query=asset%20management.
- asset – https://asset.guru/5-benefits-of-asset-tracking-automation-for-smes/.
How Useful is Asset Tracking
Many organizations rely on asset tracking to monitor their assets in real-time, streamline inventory management, optimize resource allocation, and enhance overall productivity. By using accurate tracking data, businesses can reduce the risk of theft or loss, minimize equipment downtime, and prevent unnecessary spending on redundant or unused assets. Asset tracking also plays a crucial role in regulatory compliance, helping organizations adhere to industry standards and maintain a reliable audit trail.
Moreover, asset tracking offers numerous benefits beyond simple location monitoring. With the ability to gather detailed information about asset usage, maintenance history, and performance, companies can make informed decisions about asset allocation, retirement schedules, and future investments. By analyzing this data, managers can identify trends, anticipate maintenance needs, and improve operational efficiency over time.
In the age of globalization and digitalization, effective asset tracking has become a cornerstone of successful supply chain management. By accurately tracking the movement of goods, materials, and equipment along the supply chain, businesses can optimize inventory levels, reduce lead times, and enhance customer satisfaction. Asset tracking also enables organizations to comply with strict delivery deadlines, mitigate stockouts, and improve overall visibility into the supply chain.
When it comes to fleet management, asset tracking can revolutionize how businesses oversee their vehicles, drivers, and routes. By monitoring fuel consumption, driver behavior, and vehicle maintenance, companies can optimize their fleet operations, reduce operational costs, and enhance driver safety. Real-time tracking data allows managers to respond quickly to unexpected incidents, improve route planning, and monitor compliance with regulatory standards.
Aside from operational improvements, asset tracking can empower businesses to make more strategic decisions about their asset portfolio and investment priorities. By identifying underutilized assets, inefficient processes, or high-risk areas, organizations can allocate resources more effectively, enhance asset utilization rates, and reduce unnecessary spending. Asset tracking can also help companies assess the financial health of their business, establish depreciation schedules, and prioritize capital investments based on real-time data.
Ultimately, asset tracking serves as a powerful tool for any organization looking to optimize its operations, improve asset performance, and enhance overall competitiveness. By leveraging technology to track and manage valuable assets effectively, businesses can mitigate risks, reduce costs, and unlock new opportunities for growth. In an increasingly competitive marketplace, asset tracking has become a critical component of modern business strategies, enabling companies to operate more efficiently, make smarter investments, and adapt to changing market dynamics.
In Conclusion
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