Where American companies have always dominated the annual ranking of world’s most valuable brands, China has also broken into the list making its inclusion noteworthy.
Google, associated with research, self-driving cars and other services like Google Drive, Google Maps and Google Docs, is still the most valuable and significant brand around the globe. Google has retained its title for years. With net worth of total $245 billion, its brand value has increased by 7% from 2016.
This is not all. The company also ranks for having the world’s best employers.
Though it’s brand value has increased by 3% to $235 billion, making it No.2 in the ranking, it’s still lost its value since 2015.
BrandZ’s ranking is dependent on what consumer perception is about a particular brand. If consumers think that Apple is not being innovative with its brand, its image will suffer.
Apple’s “innovation speed over the last year is not perceived to be as fast as Google or Amazon.” said Doreen Wang, Global Head of BrandZ.
With the increase in its brand value by 5% to $143 Billion, the company is ranked No.3 for three years.
Microsoft Cloud is the key reason of their success. Microsoft generates nearly a third of its revenue and almost 40% of its operating profits from its “Intelligent Cloud” line of businesses.
Amazon has been on fire for over a year. It’s brand value has increased from 41% to $139 Billion.
This retail company offers online shopping, grocery delivery, cloud computing and entertainment. It’s planning to expand its business by developing artificial intelligence services and its own digital assistant – Alexa.
With the increase of 27% over the past year to $130 Billion, the company continues to head to success and perform well.
Users think of Facebook as “friendly” and “helpful,” said Wang.
Telecommunications Company, AT&T, has been in the ranking for seven years. With the increase of 65% in its value since then, it’s net worth of $115 Billion.
“It’s becoming a more dynamic brand and increasing communications with consumers,” said Wang.
Visa, global payments technology company working to enable consumers, businesses, banks and governments to use digital currency.
A renowned brand around the globe has increased its brand value from 10% to $111 Billion this year.
The brand got an especially huge rise after Costco (COST)ended its association with American Express (AXP) a year ago for another one with Visa and Citigroup (C).
A large number of previous Costco AmEx cards were later transferred to Visa and Citi.
Its the first time Chinese company has broken into the ranking after China Mobile, which hasn’t appeared on the list since 2013.
Tencent is growing popular day by day, and its messaging platform WeChat is used for everything from texting to booking karaoke sessions.
BrandZ said that increased used of WeChat helped Tencent break into the top 10 for the first time. Its brand value increased with 27% to $108 billion.
The company is further planning to expand by planning to set up an artificial intelligence research lab in Seattle.
IBM, consistently being in the top 10 since 2006, has increased its brand value with 18% over the past year to hit $102 Billion this year.
The development of Watson has helped the brand to get a big boost among consumers.
McDonald’s is the only non-tech company to be in the ranking of top 10 this year. The brand has been valuable among consumers and has improved perception, though being a fast food restaurant, by introducing more healthy food options.