According to a new report the Indian IT services companies have completely outperformed the rivals from the US market when it comes to the brand value growth over the last couple of years of digital transformation boosted up by the covid-19 pandemic. The Indian Information Technology brands were able to make a jump of about 51% in terms of the average growth from the year 2020 to 2021 whereas the US companies witnessed a decline rate of 7%. The IT company Accenture was able to a port the title of the world’s most valuable and strongest IT service brand. the company was able to get to the record brand value of $36.2 billion. Accenture was also able to attain the top Brand Strength Index (BSI) of 87.7 out of 100.
What the Report Suggests
The valuation director of Brand Finance, Savio D’Souza said in a statement that the IT services brands both in India and across the globe will be able to overcome the challenges related to shortages and restrictions due to the pandemic by making sure to have a clear focus on the cloud services, technology consulting, machine learning and artificial intelligence.
According to the report from Brand Finance which is a brand valuation consultancy Tata Consultancy Services (TCS) for the first time manage to be in second place on the index and was valued at $16.8 billion. The credit of the company rising on the leaderboard can be given to its business performance and successful business partnerships. Infosys on the other hand secured third place and also became the fastest growing IT brand across the globe.
Other Indian brands apart from TCS and Infosys that managed to be on the index with an impressive performance were Wipro at seventh, HCL at eighth, Tech Mahindra at fifteenth and LTI at twenty-second place according to the report. EPAM and Thoughtworks were the two new US brands entering into the index by securing sixteenth and twenty-fourth places respectively.
The report stated that India will have a crucial role to play when it comes to developing infrastructure and artificial intelligence as it not only has robust IT brands but also a large population with necessary digital skills. The chairman and CEO of Brand Finance, David Haigh stated that Infosys was particularly impressive in 2021 with its commitment to clients and focus on innovations making it the fastest growing brand across the globe.