TCS, HCL and Infosys among top brands in the top 10 IT services category
The top 10 IT brands according to Brand Finance IT Services 2024 report are:
|Fujitsu (IT Services)
With a market capitalisation of $19,165 million in 2024, Tata Consultancy Services was ranked second after global consulting giant Accenture on the list. The company retained its AAA- rating on the list. TCS has retained its ranking owing to significant investment in brand and marketing, as exemplified by its sponsorship of Formula E racing, according to the report. TCS has also gained visibility from its partnership with sister company, luxury carmaker Jaguar.
Bengaluru-based IT giant Infosys, whose stock has outperformed indices lately, ranked 3 with a market cap of $14,213 million in 2024. The company’s rating was retained at AAA-. Infosys achieved the fastest annual growth rate in brand value over a 5-year period, according to the report, while Infosys CEO Salil Parekh ranked 1 on the Brand Finance Brand Guardianship Index 2024.
Noida-based IT consulting giant HCL Tech retained its 8th rank on the Brand Finance rankings for the IT sector in 2024 with a market valuation of $7,574 million. Its rating was raised to AAA- in 2024 from AA+ in 2023. HCL Tech achieved 16 per cent growth in terms of brand value, making it the fastest-growing among the top 10 IT services brands, according to the report.
Wipro was the only IT services major to have an erosion in brand value by 7.6 percent on a year-on-year basis. Apart from the company’s troubles with turning around the business in challenging macro environment, it also saw more than 10 of its top executives quit in 2023.
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