The company, which split its managed services arm into a separate entity called Kyndryl in 2021, dropped to the fourth spot. The sale caused a loss of over $19 billion in revenue which impacted IBM’s brand value bringing it down to $10.6 billion, the report said.
Tata Group is the most valuable brand in South Asia and India’s only entry in the top 100, with a brand value of US$23.9 billion, following a 12% increase from the previous year. In addition, Chairman of Tata Sons, Natarajan Chandrasekaran, ranks as the top CEO in India and stands at 25th position globally in the Brand Guardianship Index 2022.
Infosys has also been recognized as the fastest-growing IT services brand in the world and among the Top 25 fastest-growing brands across sectors globally. Other top Indian IT service companies in the list include Wipro and HCL Technologies at seventh and eight spot respectively along with Tech Mahindra at 15th position and mid-tier firm LTI (Larsen & Toubro Infotech) at the 22nd spot.
The report said that Indian IT services brands grew 51% between 2020 and 2022 while American brands saw a decline of 7%. This growth coincides with the increased demand and revenue growth reported by these companies since the pandemic due to a massive global demand for digital transformation solutions.
TCS saw its brand value in 2022 stand at $16.8 billion, up $1.8 billion over last year. Infosys saw its brand valuation increase by 52% year on year to $12.8 billion. It has grown over 80% since 2020. In the case of both companies, sports event sponsorships and partnerships have been integral to their brand growth apart from stellar revenue growth.
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Over the past decade, TCS has invested heavily to increase its brand value, including major brand sponsorships. In 2021 alone it added the TCS London Marathon and the TCS Toronto Waterfront Marathon to its roster of 11 running sponsorships, announced its partnership for the Jaguar TCS racing team in Formula-E motorsports, and forayed into golf by partnering with the Dutch Open. The partnership between Jaguar and TCS involves research and data analytics around automotive engineering and sustainable energy with an aim for low carbon emissions, said the report.
Similarly, Infosys made strategic investments in several digital and brand collaborations. This includes Infosys’ Signature Marketing Partnership with the Madison Square Garden – also making Infosys the Official Digital Innovation Partner of key MSG properties including the New York Knicks, New York Rangers and the Madison Square Garden Arena. In addition, the company has collaborations with the ATP, Roland Garros and the Australian Open while forging new ones with The Economist, Financial Times and Bloomberg Media.
Wipro reported a brand value of $6.3 billion with an increase of 48% since the previous year. HCL saw 10% growth in brand value over the past year to $6.1 billion. Tech Mahindra saw a brand value growth of 45% over the last two years to a brand value of $3.0 billion rising to be the 7th strongest brand. From 2020, LTI’s brand value has increased by an impressive 83% to US$1.1 billion. The Indian multinational also grew modestly with positive improvements in their Brand Strength Index (BSI) which shows a promising long-term growth in 2022.
