Accenture, TCS, Infosys, HCLTech continue to rule the IT brand list

Amid global uncertainty and the advent of new technologies disrupting business models, IT services players have continued to enhance their brand value. Accenture, Tata Consultancy Services (TCS), and Infosys are the top three IT brands, according to the Brand Finance 2024 report.

Accenture has maintained its position as the world's most valuable IT services brand, with a brand value of $40.5 billion. TCS, in second place, saw an 11 per cent increase in its brand value to $19.2 billion.

TCS's growth has been driven significantly by its consistent brand and marketing investment. The company's sponsorship of Formula E, particularly its partnership with Jaguar, has not only increased TCS's visibility among key audiences but also served as a showcase for its capabilities, thereby enhancing its reputation and consideration, the Brand Finance report highlighted.

Infosys, securing the third spot, has established itself as a leading IT services brand, achieving the fastest compound annual growth rate (CAGR) in brand value over the past five years among IT services brands. The company's brand value surged by 9.3 per cent to $14.2 billion this year. Under the leadership of CEO Salil Parekh, recently ranked as the number one CEO in the IT services sector according to the Brand Finance Brand Guardianship Index 2024, Infosys has consistently delivered strong brand value growth in rapidly evolving and challenging market conditions.

Lorenzo Coruzzi, Valuation Director at Brand Finance, commented, "While IT services brands thrived during the digital transformation boom of the pandemic, the current slowdown, driven by macroeconomic headwinds, inflation, and geopolitical tensions, is leading them to rethink their strategies. Despite cautious short-term spending, the substantial long-term demand for artificial intelligence presents a vital opportunity for IT services brands to adapt and differentiate themselves."

HCLTech has maintained its eighth position. However, it is the fastest-growing brand in the top 10 this year, with a 16 per cent increase in brand value. The company's brand value rose to $7.6 billion.

Brand Finance's research also found HCLTech's CEO to be the 'top-ranked sustainability champion' in the IT Services sector.