American company surpasses IBM to become second most valuable company, Infosys fast growing brand
Tata Consultancy Services (TCS) has become the second most valuable company in the IT services sector worldwide. According to the Brand Finance 2022 Global 500 report, IT company Infosys also managed to make it to the IT Services 25 ranking. Infosys has become a fast growing brand. Four other tech companies of the country are also included in this list. Overall, all the 6 major Indian brands are included in the top 10 fastest growing IT services brands across the world. This ranking is for 2020-22.
Accenture ranks first in this ranking related to IT services. According to the report, the brand value of Acenger is $36.2 billion. The report said that the American IT company moved to the fourth position in the IBM ranking. India’s IT companies have seen the fastest growth between 2020 and 2022, which is around 51%.
TCS’ brand value is $16.786 billion
This is the first time for TCS to earn such a huge amount. According to the report, the brand value of TCS has increased by $1.844 billion (12.5%) to $16.786 billion (about Rs 1.26 lakh crore) in the last 12 months. The company said that IT services firm TCS achieved revenue of $ 25 billion in the year 2021.
David Haig, CEO and President, Brand Finance, said that for the first time, TCS has become the second most valuable brand in the sector. This company is continuously improving the ranking of IT Services. TCS strengthened its global brand value last year. The company has achieved this position due to continuous investment.
IT companies benefit from remote working
Brand Finance said in its report that now remote working or work from home has become common in business. This new trend is being seen all over the world. The role of digitization in the global economy has become the most important. This is the reason that in the last two years, IT services have gained the fastest pace. In future, India is going to play a big role in Artificial Intelligence, Data Analytics and Internet of Things (IoT).
