TCS now the second most valuable IT services brand globally.

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 percent brand value growth since 2021 and 80 percent since 2020 to $12.8 billion, earning it third spot, the brand valuation consultancy said in its Global 500 IT Services Ranking Report.

TCS and Infosys have pushed IBM to the fourth spot from second. IBM’s brand value now stands at $10.6 billion, a decline of 34 percent from 2021 and 50 percent since 2020. The US technology major’s brand value has fallen significantly after the disinvestment of Kyndryl. The sale caused a loss of $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 has grown its brand value by $1.84 billion to $16.78 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, it said.

Source: Business Standard