Tata Consultancy Services (TCS) is the second most valued brand in IT services worldwide, according to the Brand Finance 2022 Global 500 report. Accenture continues as the most valuable and strongest IT services brand. Infosys, at third place, emerged as the fastest growing IT services brand globally following 52 per cent value growth from last year and 80 per cent since 2020 to $12.8 billion.
TCS, valued at $16.8 billion, reached the number two ranking propelled by business performance and successful partnerships. According to the Brand Finance report, TCS’s brand value by $1.844 billion (12.5 per cent) to $16.786 billion over the last 12 months. This growth is attributed to the company’s investments in its brand and its employees, customer equity and strong financial performance. Indian IT services companies have outpaced their competitors from the United States in brand value growth over the past two years of digital transformation in the global economy, accelerated by the COVID-19 pandemic, according to a new report published today. The average growth of Indian brands that have appeared in the Brand Finance IT Services 25 2022 ranking since 2020 is an impressive 51 per cent, while the US brands have on average contracted by -7 per cent. “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 revaluating the market and gaining a clear focus on cloud services, technology consulting, machine learning, and artificial intelligence, the 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. With TCS and Infosys climbing the Brand Finance ranking, IBM has moved to fourth position. IBM’s brand value now stands at $10.6 billion with a 34 per cent decrease from the previous year, and a 50 per cent drop overall since 2020. The brand value of the US-based multinational IBM has fallen significantly after the divestment of Kyndryl. The sale caused a loss of over $19 billion in revenue, hurting IBM’s brand value. Rajashree, Chief Marketing Officer, TCS in a statement said: “The ranking is a validation of our increased market relevance and focus on innovation and transformation of our clients, their customers, and the larger community. 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 positions us to capitalize on upcoming opportunities.” “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,” said Salil Parekh, CEO Infosys in a statement. Global findings of Brand Finance report TikTok the fastest growing brand globally Apple continues to be worlds most valued brand Tech remains most valuable industry, while second ranked retails crossed the $1 trillion mark following 46% brand value growth US & China continue to dominate claiming 2/3rd of brand value in ranking, while India see fastest growth over course of pandemic among top nations up 42% Microsoft’s Satya Nadella comes out top in Brand FInance Brand Guardianship Index 2022 of world’s top 250 CEOs.