According to Brand Finance, Tata Consultancy Services (TCS NSE -3.20 %) has become the world’s second most valuable IT services brand, while Infosys NSE -2.53 % and four other Indian IT giants have solidified their positions among the top 25 IT services brands.
According to the Brand Finance IT Services 25 2022 report, after TCS and Infosys (third place), four more Indian brands have firmly established themselves among the global elite: Wipro (7th), HCL (8th), Tech Mahindra (15th), and LTI (22nd).
The brand valuation firm noted that all six Indian brands are among the top ten fastest-growing IT Services brands between 2020 and 2022.
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 USD 36.2 billion.
Between 2020 and 2022, the average growth for Indian IT services companies was 51 %, compared to a seven % 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.
India will continue to play a key role in establishing infrastructure for artificial intelligence, data analytics, and the Internet of Things (IoT) because of its strong IT services brands and a big population of workers with digital capabilities, according to the report.
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 USD 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 USD 25 billion for the first time, with an industry-leading operating profit margin of over 25%.
“TCS continues to climb the IT services value rankings, becoming the sector’s second most valuable brand for the first time.