The three IT giants topped the charts of IT brands according to the Brand Finance 2024 report.
Accenture maintained its position as the world’s most valuable IT services brand, with a brand value of $40.5 billion, up 1.6% from last year.
Meanwhile, billionaire businessman Azim-Premji-backed Wipro was the only IT services major to have witnessed an erosion in brand value by 7.6% on a year-on-year basis to $6.2 billion. Wipro has been a laggard over the past few years struggling to turn around the business amid a challenging marco environment. It has also seen a slew of exits with around ten senior executives quitting in 2023.
“TCS has shown outstanding growth, increasing its brand value by more than anyone else in its industry. This achievement reflects their commitment to innovation and market leadership. The improvement in their Brand Strength Index from 82 to 84, while retaining their AAA- brand rating, highlights TCS’ strategic excellence. As one of the world’s most valuable IT services brands, TCS is a clear brand leader in the industry, demonstrating the power of consistent brand investment and strength,” said, David Haigh, CEO and chairman, Brand Finance.
Continuing to maintain its third sport for the third consecutive year, Infosys has been the fastest-growing growing IT services brand over the last five years, with Salil Parekh named as the number one IT Services CEO for 2024, the report said.
Infosys’ brand value more than doubled in the last five years, and at USD 14.2 billion in 2024, ranked 145th most valuable brand in the world.
Third-largest Indian IT firm HCLTech grew the fastest with 16 per cent rise maintaining its eighth position this year valued at USD 6.5 billion, up by USD 1 billion y-o-y similar to Infosys.
TCS has made significant investments over the past decades to expand the global footprint of its brand. These include strengthening its presence at major industry and business forums, in digital channels and social media, boosting its leadership status in Industry analyst reports, its voice in thought leadership and a series of other actions.
“Over the past decades, we have made a concerted effort to make the TCS brand more global using a range of strategic marketing actions, which is being reflected in this brand performance. I would like to thank all my colleagues, who build and enhance our brand through their daily efforts. Embracing the Tata Group‘s larger vision, we are deploying the full power of our brand platforms to not only shape a more sustainable future but also strategically position our brand as a leader in Artificial Intelligence and other emerging technology fronts.” Said Abhinav Kumar, chief marketing officer at Tata Consultancy Services.
Below is the list of top ten IT services brands as ranked in 2024 Global 500 IT Services Ranking by Brand Finance.
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