Accenture, the IT services giant, has been valued at $40.5 billion, marking a 2% increase in brand value, according to recent reports. The company's value growth places it as the world's most valuable IT services brand. However, TCS is not far behind, with an 11% increase in brand value to $19.2 billion, making it the second most valuable in the sector.

Infosys, another key player in the IT services sector, has seen significant growth over the past five years. The brand's value has increased by 9.3% to $14.2 billion this year, making it the fastest-growing IT services brand over the period.

Salil Parekh, CEO of Infosys, has been named the number one IT Services CEO for 2024. This comes as HCL Tech, another IT services brand, has seen the fastest growth in the top 10 this year, with a 16% increase in brand value to $7.6 billion.

Globant, meanwhile, has seen the fastest growth among the top 25 brands, with a 34% increase in brand value to $1.6 billion. The growth of these IT brands is driven by various factors, including brand and marketing investment, global presence, strong financial performance, and significant sponsorship deals.

However, the IT services sector is currently facing challenges due to macroeconomic headwinds, inflation, and geopolitical tensions. Despite these challenges, there is substantial long-term demand for AI, presenting a crucial opportunity for IT services brands to adapt and differentiate themselves.

"While IT services brands thrived during the pandemic's digital transformation boom, a current slowdown driven by macroeconomic headwinds, inflation, and geopolitical tensions has them rethinking their strategies. Despite cautious short-term spending, the substantial long-term demand for AI presents a crucial opportunity for IT services brands to adapt and differentiate themselves." said Lorenzo Coruzzi, Valuation Director at Brand Finance.