Comments
Tata Consultancy Services (TCS) has been rated as the second most valuable IT services brand in the world in the 2024 Global 500 IT Services Ranking by Brand Finance. TCS’ brand value has surged to $19.2 billion from $17.2 billion in 2023, showing a strong growth of 11.5 per cent year-on-year (y-o-y). The incremental $2-billion growth is the highest absolute growth posted among the top 25 leading IT firms in the world.
“TCS has shown outstanding growth, increasing its brand value by more than any other company 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.
Besides TCS, Accenture and Infosys boosted their brand value as well. The three firms topped the list of IT firms in terms of brand value, Accenture maintained its position as the world’s most valuable IT services brand, with a brand value of $40.5 billion, up 1.6 per cent from last year.
The brand finance report suggests that adoption of technologies like generative AI has played a major role in boosting brand value of IT firms especially Accenture.
Over the past decades, we have made a concerted effort to make the TCS brand more global using a range of strategic marketingactions, 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 brandplatforms 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, Tata Consultancy Services.
Meanwhile, Azim-Premji-backed Wipro was the only IT services major to have witnessed an erosion in brand value by 7.6 per cent on a y-o-y basis to $6.2 billion.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.