TCS Becomes World’s 2nd Biggest IT Services Brand; But Infosys Is Fastest Growing!
TCS became the world’s second most valuable brand in the IT services sector valued at $16.786 billion!
- Brand Finance stated that TCS has become the second most valuable brand in the IT services sector.
- TCS’s brand value grew from $1.844 billion to $16.786 billion over the last 12 months.
- IBM’s brand value is $10.6 billion now, a 34% decrease from the previous year.
Brand Finance, a leading brand evaluation firm has stated that Tata Consultancy Services (TCS) has become the second most valuable brand in the sector of IT services.
According to Brand Finance’s 2022 Global IT Services Ranking report TCS’s brand value grew from $1.844 billion to $16.786 billion over the last 12 months. The reason for this growth is due to the enterprise’s investment in their employees, customer equity and also their strong financial performance.
TCS has persistently worked on increasing the brand value and this includes investing in big brand sponsorships. In the year 2021 itself, the brand has added the TCS London Marathon and the Waterfront Marathon to it’s roster of 11 running sponsorships and also announced a partnership for the Jaguar TCS racing team and Formula-E motorsports and also made their way into the field of golf by partnering with the Dutch Open.
In addition to this, in 2021, TCS experienced a strong growth in revenue and reached a big milestone. For the first time, TCS hit $25 billion in revenue.
IBM fell down the ranks
TCS’s gain has been IBM’s loss as it no longer has a place in top 3. IBM’s brand value is $10.6 billion now, which is a 34% decrease from the previous year. The brand value of the US based company IBM has fallen strikingly due to the divestment of Kyndryl. This sale resulted in a loss of over $19 billion in revenue which heavily impacted the bland value of IBM.
Infosys’ Brand value
Infosys has seen the fastest increase in brand value among all other brands in ranking this year. Infosys has now become the world’s third most valuable IT services brand after their 52% growth to $12.8 billion. Over the past two years, during the pandemic the change has been even more impressive and the company has recorded an 80% gain.
Other Indian Brands in the list
Some other Indian brands are also now in the list and have firmly established themselves on a global scale. Wipro is in 7th place. HCL is in 8th place. Tata Mahendra is in 15th place and LTI is in the 22nd place.
“We are delighted and proud to be named among the top two in the Brand Finance 2022 Global 500 IT Services Ranking report. The ranking is a landmark milestone for us and a validation of our increased market relevance and focus on innovation and transformation of our clients, their customers, and the larger community. This recognition is also a testimony to our employees, who are our true brand custodians, and the belief with which they have rallied for us over the years,” said Rajashree R, CMO, TCS.