TCS World’s Second Most Valuable IT Brand, Infosys Fastest Growing: Report

According to Brand Finance, Tata Consultancy Services (TCS) has become the world’s second most valuable brand in the information technology (IT) services sector, while Accenture remains the world’s most valuable and strongest IT services brand. According to the brand valuation consultancy’s newest Global 500 IT Services Ranking study, Infosys has emerged as the fastest growing IT services brand, with a 52% increase in brand value since last year and an 80% increase since 2020 to US$ 12.8 billion, putting it in third place.

TCS and Infosys have moved IBM from second to fourth place. IBM’s brand value is now US$ 10.6 billion, down 34% from last year and 50% since 2020. Following the divestiture of Kyndryl, the brand value of the US technological behemoth has plummeted. IBM lost almost US$ 19 billion in sales as a result of the transaction, and its brand value suffered as a result.

Apart from TCS and Infosys, four more Indian firms are listed among the top 25 IT services brands: Wipro (7th), HCL (8th), Tech Mahindra (15th), and L&T Infotech (22nd).

TCS’s US$ 16.8 billion valuations was boosted by its business performance and good relationships, according to the research. Over the last year, TCS increased its brand worth by US$ 1.84 billion (12.5%) to US$ 16.78 billion. This expansion can be ascribed to the company’s brand investments.

Since 2020, the average growth of Indian brands that have appeared in the Brand Finance IT Services ranking has been 51%, whereas the average contraction of US brands has been 7%.

“Despite the global pandemic and its inevitable impact on businesses, the IT services and technology sector has proven that it is equipped to perform with successful results. By re-evaluating the market and gaining a clear focus on cloud services, technology consulting, machine learning, and artificial intelligence, IT services brands – from India and around the world – will continue to flourish and innovate in the face of challenges posed by pandemic-related shortages and restrictions,” said Savio D’Souza, valuation director, Brand Finance.

 “Our new brand positioning ‘Building on belief’ captures our aspirations and convictions. Our ‘customer-centric focused’ strategy and focus on research and innovation over the last decade position us to capitalise on upcoming opportunities,” Rajashree, chief marketing officer, TCS, said in a statement.

Salil Parekh, CEO, Infosys, said, “Our clients have rapidly scaled their digital adoption in the last two years and have reposed tremendous trust and confidence in our ability to help them transform.”