TCS At Second, Along With Five Other Indian IT Brands Have Secured Their Spot In The Top 25 Globally
According to Brand Finance, The TCS (Tata Consultancy Services) has become the second most valuable brand in the IT services sector globally, with an NSE of 2.43%. Infosys with an NSE of 2.12% along with four other Indian tech firms have established their position among the top 25 IT services brands tally.
In the survey of Brand Finance IT Services 25 2022, four more companies other than the TCS & Infosys have established their places in the list of top 25, with Wipro coming in 7th, HCL in 8th, Tech Mahindra in 15th, and LTI in 22nd.
According to the survey, Accenture preserved its title as the world’s most valuable and powerful IT services brand, with a record brand worth of 36.2 billion$.
Between 2020 and 2022, the average growth for Indian IT services companies was 51%, compared to a seven percent loss for US brands.
The rise of IT services hubs in India has been aided by a global shift to remote working for professional services and an accelerated digitalization trend across the global economy.
The survey also went on to point out that with the strong IT brands along with the large population of people with digital skills, India will play a major role in developing infrastructure for artificialintelligence and IOT.
TCS has ascended to second place in the rankings, following a 12% year-over-year increase and a 24% increase since 2020, according to the research, with a brand worth of 16.8 billion$.
TCS credited this rise to the company’s investments in its brand and staff, customer equity, and excellent financial performance, according to a regulatory filing.
TCS achieved a historic milestone in 2021, when revenue surpassed 25 billion$ for the first time, with an industry-leading operating profit margin of over 25%.
The CEO and chairman of Brand Finance said “TCS continues to rise the IT services rankings to become the second most valuable brand in the sector for the first time. “This great achievement is the result of strong financial growth, strong and continued investments in a new global brand positioning last year. I also see TCS’ focused commitment to serving the needs of its employees, customers, and communities, which always – in the long run – drives brand performance,”
Rajashree R, the CMO of TCS said that the ranking is a landmark milestone and a validation of its increased market relevance.”With our differentiated ‘customer focused’ strategy, superior execution, investments in building newer capabilities and sustained focus on research and innovation over the last decade, we are indeed well-positioned to capitalize on the multi-year technology transformation opportunities that lie ahead,”
Infosys emerged as the fastest growing IT brand globally with a 52% growth in brand value since last year. They grew 80% more since 2020.
According to the report, Infosys has also maintained its global brand recognition by nurturing sports partnerships with the ATP, Roland Garros, and the Australian Open, as well as forging new ones with Madison Square Garden and media heavyweights such as The Economist, Financial Times, and Bloomberg.
I am Darryl Broadhurst and i give investors an insight into the most recent news hitting the “Technology” sector in Wall Street. I have been an independent financial adviser for over 11 years in the city and in recent years turned my experience in finance and passion for journalism into a full time role. I perform analysis of Companies and publicizes valuable information for shareholder community.
