Tata Consultancy Services (TCS) has become the second most valued brand in the information technology (IT) services sector globally, while Accenture retains the title of the world’s most valuable and strongest IT services brand, according to Brand Finance.
Infosys has emerged as the fastest growing IT services brand following 52 per cent brand value growth since last year and 80 per cent since 2020 to $12.8 billion, earning it third spot, the brand valuation consultancy said in its latest Global 500 IT Services Ranking report.
TCS and Infosys have pushed IBM to fourth spot from second. IBM’s brand value now stands at $10.6 billion, a decline of 34 per cent from last year and 50 per cent since 2020.
The US technology major’s brand value has fallen significantly after the divestment of Kyndryl.
The sale caused a loss of over $19 billion in revenue to IBM, impacting its brand value.
Apart from TCS and Infosys, there are four more Indian companies in the top 25 IT services brands -- Wipro (7th), HCL (8th), Tech Mahindra (15th) and L&T Infotech (22nd).
The ranking of TCS, valued at $16.8 billion, was propelled by its business performance and successful partnerships, said the report.
TCS grew its brand value by $1.84 billion (12.5 per cent) to $16.78 billion over the last 12 months.