New Delhi: According to the Brand Finance 2022 report, Tata Consultancy Services (TCS) has become the second most valuable brand in the global IT services sector.
The report said that Accenture retained the title of the world’s most valuable and strongest IT services brand, with a record brand value of $36.2 billion.
After TCS, Infosys is the third largest global IT brand with a brand value of 52 per cent from last year and 80 per cent growth from 2020 to $12.8 billion.
Apart from TCS and Infosys, there are four other Indian brands that are firmly established in the global elite club; According to Brand Finance, there are Wipro (7th), HCL (8th), Tech Mahindra (15th) and LTI (22nd).
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The brand valuation firm said that all six Indian brands are among the top 10 fastest growing IT services brands during 2020-2022.
According to PTI, Indian IT services brands jumped with an average growth of 51 per cent from 2020 to 2022, compared to a decline of seven per cent for US brands.
A global turn to remote working for professional services and an accelerated digitization trend in the global economy has facilitated the expansion of IT services hubs within India.
With a strong IT services brand and a large population of people with digital skills, India will continue to play a major role in the development of infrastructure for artificial intelligence, data analytics and Internet of Things (IoT).
The report said IBM has dropped to fourth place, second in the TCS ranking, after a 12 percent year-on-year growth and 24 percent growth from 2020 to $16.8 billion brands. value has been reached.
This growth is attributed to the company’s investment in its own brand and its employees, customer equity and strong financial performance, TCS said in a regulatory filing.
Strong revenue growth in 2021 saw TCS cross a significant milestone with $25 billion in revenue for the first time, with industry-leading operating profit margins exceeding 25 percent.
“TCS continues to rise in the IT services rankings to become the second most valuable brand in the region for the first time ever. I also see TCS’ focused commitment to meeting the needs of our employees, customers and communities, which always drives brand performance over the long term,” said David High, CEO and President of Brand Finance.
TCS CMO Rajshree R said the rankings are a milestone for the company and an affirmation of its increased market relevance and focus on innovation and transformation of customers, their clients and the larger community.
“With our differentiated ‘customer-centric’ strategy, improved execution, investments in building new capabilities, and a relentless focus on research and innovation over the past decade, we are truly well positioned to capitalize on the opportunities of multi-year technology transformation.” Well positioned who are ahead,” Rajshri said.
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