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Indian IT services firms outpace US competitors in brand value growth

InduQin

New Delhi: Indian IT services companies have outpaced their competitors from the US in brand value growth over the past two years of digital transformation accelerated by the Covid-19 pandemic, a new report showed on Wednesday.


Indian IT services brands made a leap, with average growth from 2020 to 2022 at 51 per cent compared to minus 7 per cent for brands from the US.


Accenture retained the title of world's most valuable and strongest IT services brand, with record brand value of $36.2 billion, and achieving top Brand Strength Index (BSI) score of 87.7 out of 100.


"By gaining a clear focus on cloud services, technology consulting, machine learning, and artificial intelligence, the IT services brands — from India and around the world - will continue to flourish and innovate in the face of challenges posed by pandemic-related shortages and restrictions," said Savio D'Souza, Valuation Director, Brand Finance.


Valued at $16.8 billion, Tata Consultancy Services (TCS) was second for first time on the Index, propelled by business performance and successful partnerships, while Infosys at the third position emerged as fastest-growing IT services brand globally, according to the report by leading brand valuation consultancy Brand Finance.


Next to TCS and Infosys, four more brands from India -- Wipro (7th), HCL (8th), Tech Mahindra (15th), and LTI (22nd) impressed with performance, said the report, titled 'Brand Finance IT Services 25 2022'.


Two new US-based brands enter top 25 ranking - EPAM (at 16th position), joined by brand-to-watch Thoughtworks (24th).


"With strong IT services brands and a large population of people with digital skills, India will continue to play a major role in developing infrastructure for artificial intelligence, data analytics and Internet of Things (loT)," the report noted.


Read More at https://telecom.economictimes.indiatimes.com/news/indian-it-services-firms-outpace-us-competitors-in-brand-value-growth/89137627

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