That’s on brand.
According to a new report from valuation firm Brand Finance, the world’s top IT services companies are worth $163 billion. The projection is the result of increased spending in a booming tech market.
Lorenzo Coruzzi, Brand Finance’s valuation director, told IT Brew that the analysis is based on a number of factors, from ranking companies on their market cap, to brand awareness, to talking to consumers about who they trust most. Of course, for IT services, which is primarily a B2B business, this means talking to companies that use their services.
“These questions are answered by a CTO in a company that wants to implement digital transformation, or a CIO in a company that wants to decide who to call in to have a digitization undertaking in the company,” Coruzzi said.
Line ’em up. Brand Finance found that Accenture is the number one global IT services brand, with a valuation of $41.5 billion. The firm, with a global presence and a highly recognizable brand, took the top spot for the seventh year in a row. The other US company in the top five, from IBM Consulting, was in fourth place, behind Indian firms TCS and Infosys.
Notably, while US firms accounted for 41.7% of global brand valuation, India was right behind at 36.1%. Next highest was Japan, at 9.5%. It’s a sign of how the country’s tech sector is advancing. With a valuation of just over $21 billion, TCS has seen a massive 826% growth in the last 15 years.
Details, details. Companies that put their money into sustainability are seeing a rise in their fortunes as well, with the practices around the environmental social movement accounting for 17.5% of consideration for branding. And, unsurprisingly, AI is driving a lot of the increase in investment in IT services. The technology is boosting revenue projections, Coruzzi told IT Brew, and that’s not the only breakthrough on the horizon—cybersecurity is seeing a boost as well.
“Cybersecurity is another very big one with the development of quantum computing,” Coruzzi said.
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