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TCS, Infosys pip IBM in global brand value
Tata Consultancy Services
IT majors became world’s 2nd & 3rd most valuable companies after Accenture, which retains top slot; 6 Indian IT cos figure among top-25 global brands: Brand Finance IT Services
Bengaluru: Indian IT services companies continue to their upward march in the global pecking order with six companies featuring in the top-25 IT companies' tally. Tata Consultancy Services (TCS) has become the second most valuable brand in the IT services globally, Infosys now has the third spot in the tally, according to Brand Finance IT Services 25 2022 report.
Four more Indian brands also figured in the list of global elites - Wipro (7th), HCL Technologies (8th), Tech Mahindra (15th) and L&T Infotech (22nd). This year also Accenture retained the title of world's most valuable and strongest IT services brand with a brand value of $36.2 billion, as per the report.
IBM, which was the second-best brand last year, has gone down to fourth rank with TCS rising to second spot in ranking. TCS' brand value stood at $16.8 billion. Infosys with the third spot, emerged as the fastest-growing IT services brand globally following 52 per cent brand value growth since last year and 80 per cent since 2020 to $12.8 billion. During the last two years, the brand value of Infosys has grown by 80 per cent despite the pandemic.
"Strong business results can be attributed to the brand's ability to credibly adapt its offering to fast-evolving needs of today's economy as well as to its continued investment into innovative solutions that help clients securely accelerate their journey to the cloud," the report said.
Similarly, the report noted that Wipro's performance demonstrated strong revenues and growth in brand value. The Bengaluru-based conglomerate has a brand value of $6.3 billion with an increase of 48 per cent since the previous year.
HCL Technologies, which has signed 58 projects across various sectors, including telecommunications, life sciences, manufacturing and technology, saw 10 per cent growth in brand value over the past year to $6.1 billion. Similarly, Tech Mahindra had a brand value growth of 45 per cent over the last two years to $3 billion. The growth is a result of focused brand building efforts, the report said.
"By implementing projects that lay equal emphasis on people, planet, and profits, the organisation has been recognised for its social impact. Additionally, the business focus on digitalisation, cloud transformation, telecommunications, and other key digital requirements has consistently strengthened Tech Mahindra's brand positioning," it said.
