With a brand value of $947.1bn, Apple is described as standing out for its high degree of differentiation and continued diversification across its hardware, software and services portfolio.
Google moved up to second place and is one of the fastest risers in the ranking, increasing its brand value by 79% to $819.6bn.
The combined value of the world’s top 100 most valuable brands has increased by 23% to $8.7 trillion over the past year, highlighting the importance of brand strength in navigating an unsettled global economy, according to the BrandZ Most Valuable Global Brands 2022 report.
Some 37 brands improved their ranking this year. In 2022, over three quarters of brand value originated from US companies.
Media and entertainment, business solutions and technology providers, and retail categories account for more than half of the total value of the top 100 ranking.
Louis Vuitton is the first luxury brand to reach the global top 10, reflecting the growth of the luxury market worldwide and in China in particular. Louis Vuitton experienced 64% growth in brand value this year and is the first European brand to reach the global top 10 since 2010.
Technology and luxury brands grew the fastest; 46% for consumer technology and 45% for luxury. Banking and automotive brands also demonstrated impressive growth; automotive by 34% and banks by 30%. This compares to growth across sectors such as apparel ( 20%) and personal care ( 17%).
At a category level, Wells Fargo was the only new top-ranked brand, moving from second to first place in the banking category and replacing China’s ICBC.
“Strong brand affinity underpins a customer’s willingness to pay and has never been more important for organisations looking to offset spiking inflation,” commented Kantar BrandZ head Martin Guerrieria.
“This year’s results show us the value of continued investment in brand and marketing capabilities, as a means of maximising business returns, irrespective of market conditions.”