BrandFinance™ Global 500 brand survey for 2024 assesses TCS’ brand value at $19.2 billion, up 11.5% YoY
Highest absolute value growth makes TCS outperform its industry, retaining its #2 ranking globally
Press release
DAVOS | MUMBAI, January 17, 2024: Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS) has been rated as the second most valuable IT services brand in the world in the 2024 Global 500 IT Services Ranking by Brand Finance. Steered by steady investments in AI-readiness and a commitment to sustainability, TCS’ brand value has surged to $19.2 billion from $17.2 billion in 2023, a strong growth of 11.5% YoY. The incremental $ 2 billion growth is the highest absolute growth posted among the Top 25 leading IT firms in the world.
"TCS has shown outstanding growth, increasing its brand value by more than anyone else in its industry. This achievement reflects their commitment to innovation and market leadership. The improvement in their Brand Strength Index from 82 to 84, while retaining their AAA- brand rating, highlights TCS' strategic excellence. As one of the world's most valuable IT services brands, TCS is a clear brand leader in the industry, demonstrating the power of consistent brand investment and strength," said, David Haigh, CEO and Chairman, Brand Finance.
TCS has made significant investments over the past decades to expand the global footprint of its brand. These include strengthening its presence at major industry and business forums, in digital channels and social media, boosting its leadership status in Industry analyst reports, its voice in thought leadership and a series of other actions.
In a first such foray seen in the technology sector, TCS has built up the world’s largest sponsorship portfolio of 12 marathons and running platforms, which include iconic events such as the TCS New York City Marathon, the Tata Mumbai Marathon, the TCS Amsterdam Marathon, among others. Recently, it has further strengthened this portfolio, by adding the TCS London Marathon and the TCS Toronto Waterfront Marathon. Every year, over 600,000 runners participate in TCS-sponsored endurance running races in major cities across the world, and billions watch these events in broadcast across the world and through the mobile apps built by TCS.
“Over the past decades, we have made a concerted effort to make the TCS brand more global using a range of strategic marketing actions, which is being reflected in this brand performance. I would like to thank all my colleagues, who build and enhance our brand through their daily efforts. Embracing the Tata Group's larger vision, we are deploying the full power of our brand platforms to not only shape a more sustainable future but also strategically position our brand as a leader in Artificial Intelligence and other emerging technology fronts.” Said Abhinav Kumar, Chief Marketing Officer at Tata Consultancy Services.
Artificial Intelligence: TCS’ AI strategy is built on strengthening capabilities across its value chains and helping customers realize its transformative potential. Over 150,000 employees have already been trained in basic GenAI competencies. To empower its employees in AI skillsets further, TCS launched an AI Experience Zone for its workforce. Leveraging its marathon platform, TCS partnered with champion marathoner Des Linden ahead of the TCS New York City Marathon to create a digital twin of her heart. This twin can offer a new method for health measurement and transform the training experience, thereby opening possibilities for real-time, personalized healthcare, by leveraging digital twins, machine learning and artificial intelligence.
Sustainability: TCS has charted a clear path to attain Net Zero Emissions goals of reducing its absolute greenhouse gas emissions by 2030. Aligning its marketing efforts to this objective, TCS also collaborated with the Council for Responsible Sport, to build the ReScore app – a first-of-its-kind digital application that helps sports organizations worldwide to measure and certify their sustainability performance. The TCS Toronto Waterfront Marathon and the TCS London Marathon have already achieved Evergreen and Gold standards on this platform. TCS also supports the world’s first all-electric racing series, Formula E, through the Jaguar TCS Racing team. This partnership serves as a catalyst for electrification, advancing efforts towards reduced carbon emissions and fostering sustainable mobility.
Below is the list of top 10 IT services brands as ranked in 2024 Global 500 IT Services Ranking by Brand Finance.
Rank |
Brand |
Brand Value ($ Mn) |
Brand Value Improvement (%) |
Incremental growth ($Mn) |
1 |
Accenture |
40,502 |
1.60% |
635 |
2 |
TCS |
19,165 |
11.50% |
1,971 |
3 |
Infosys |
14,213 |
9.20% |
1,203 |
4 |
IBM Consulting |
12,097 |
4.50% |
520 |
5 |
Capgemini |
10,213 |
4.60% |
448 |
6 |
NTT DATA |
8,932 |
0.20% |
16 |
7 |
Cognizant |
8,643 |
0.10% |
10 |
8 |
HCL Tech |
7,574 |
15.90% |
1,036 |
9 |
Wipro |
5,756 |
-7.60% |
-472 |
10 |
Fujitsu (IT Services) |
4,328 |
0.90% |
40 |
ABOUT TATA CONSULTANCY SERVICES (TCS)
Tata Consultancy Services is an IT services, consulting and business solutions organization that has been partnering with many of the world’s largest businesses in their transformation journeys for over 55 years. Its consulting-led, cognitive powered, portfolio of business, technology and engineering services and solutions is delivered through its unique Location Independent Agile™ delivery model, recognized as a benchmark of excellence in software development.
A part of the Tata group, India's largest multinational business group, TCS has over 615,000 of the world’s best-trained consultants in 55 countries. The company generated consolidated revenues of US $27.9 billion in the fiscal year ended March 31, 2023, and is listed on the BSE and the NSE in India. TCS' proactive stance on climate change and award-winning work with communities across the world have earned it a place in leading sustainability indices such as the MSCI Global Sustainability Index and the FTSE4Good Emerging Index. For more information, visit www.tcs.com
TCS media contacts
Corporate Communications & India
Asia Pacific
Canada
Latin America
Australia and New Zealand
Europe
Japan
Middle East & Africa
UK
USA
