How common is asexuality?

Could you elaborate on the prevalence of asexuality in today's society? Is it a widely recognized and understood sexual orientation, or is it still considered a lesser-known or misunderstood aspect of human sexuality? Additionally, are there any statistics or research studies that shed light on the percentage of the population that identifies as asexual, and if so, what do they reveal about the distribution of asexuality across different demographics? Furthermore, are there any challenges or barriers that asexual individuals may face in terms of societal acceptance and representation?