Tata Consultancy Services (TCS) has been named as the fastest growing IT services company, adding $1.3 billion of value to its brand this year.
According to the Brand Finance Global 500, a ranking of the world’s most valuable IT services brands which analyses the brand value and brand strength of the 5000 largest brands across 38 sectors in the world, TCS’ brand value grew by 14%, and is now worth $10.4 billion. Its growth, attributed to a 40% increase in revenue, contrasts with stagnation in the wider sector, which saw the combined value of the 13 brands in both 2017 and 2018’s rankings slip by 1% to a combined $94.4 billion.
HPE was the biggest casualty on the list – dropping from fourth position to 12th – with its value falling by 66% as a result of spinning off its enterprise services business to form DXC.technology (which entered the ranking in sixth) and the departure of long-serving CEO Meg Whitman, both in 2017.
IBM tops brand value
IBM retained its number one position this year as the IT sector’s most valuable brand – with a 1% rise in brand value to $19.5 billion – as its brand rating improved to AAA and its brand strength was the highest in the sector by almost 10 points. Accenture were second to IBM again, losing 2% of its brand value, which now stands at $16.8 billion. While Capgemini, Tech Mahindra, and Atos have gained brand value, both Xerox and HPE lost a significant percentage since 2017, down 32% and 66% respectively.
Rajesh Gopinathan, CEO and managing director, TCS said: “The growth we have demonstrated on brand leadership is a testament to our steadfast commitment to our clients, our people, and the communities we work in.”
Amazon knocked Google off the top spot of Brand Finance’s ranking of the top 500 global brands published in February. According to professor Patrick Barwise, tech brands are unlikely to relinquish their dominance of the ranking any time in the near future.
Top 10 most valuable IT services brands
- IBM – $19.5 billion
- Accenture – $16.8 billion
- Tata Consultancy Services – $10.3 billion
- Cognizant – $7.7 billion
- Infosys – $6 billion
- DXC.technology – $6 billion
- HCL – $4.5 billion
- Capgemini – $4.5 billion
- Fujitsu – $4 billion
- Atos – – $3.8 billion
