In a report published by valuation company Brand Finance, Tata Consultancy Services (TCS) has risen to the second position in the ‘Brand Finance IT Services 25 2022’ ranking. With this, TCS has surpassed IBM and achieved a valuation of $16.8 billion, making it the second most valuable IT Services sector in the world, whereas IBM slipped to the fourth position.
Accenture remained at the top position with a brand value of $36.2 billion. On the other hand, other Indian IT Services companies like Infosys, Tech Mahindra and HCL Technologies also managed to secure positions in the Top 25. Surprisingly, Infosys claimed the third position as it emerged as one of the fastest growing IT Services brand with a valuation of $12.8 billion.
IBM had separated its managed services arm into a separate entity called Kyndryl in 2021, which caused a fall of $19 billion in its valuation, now standing at $10.6 billion. Indian IT Services brands saw a 51% growth between 2020 and 2022. In 2010, TCS was valued $2.3 billion. The company has achieved a 730% growth in its value over a decade.
Recently, TCS was also ranked among the Top 5 Blockchain service providers.
Highlight by Aman Agarwal.