US and Asian brands dominate Brand Finance annual rankings
US and Asian brands dominate rankings of world’s most valuable technology brands as American tech giants take top five spots, Amazon being named the world’s most valuable technology brand whilst China’s WeChat breaks into the top 10 as the world’s strongest tech brand.
The results come from strategy consultancy Brand Finance, who conduct and annual survey of the world’s 100 most valuable tech brands.
The chart is compiled using a measurement called Brand Strength, the efficacy of a brand’s performance on intangible measures relative to its competitors.
Each brand is assigned a Brand Strength Index (BSI) score out of 100, which feeds an overall brand value – the net economic benefit that a brand owner would achieve by licensing the brand in the open market. Based on the score, each brand is assigned a corresponding rating up to AAA+ in a format similar to a credit rating.
Although the top five most valuable tech brands are dominated by brands from the US, the remaining five places within the top 10 are secured by brands from China and South Korea, asserting the dominance and competitiveness of the Asian players.
Valued at $187.9 billion, Amazon strengthens and maintains its position as the world’s most valuable technology brand. Its brand value surges 25% to a record high of $187.9 billion over $30 billion more than Apple who is currently in second place.
Amazon recorded its most successful Prime Day to date last year with consumers purchasing more than 100 million products. Shortly after its Prime Day success, the brand crossed the $1 trillion threshold on Wall Street for the first time in its history.
New entrant Taobao, the most valuable Chinese brand at $46.6 billion, broke into the top 10 for the first time. The online shopping website, headquartered in Hangzhou and owned by Allbaba, is one of the world’s biggest e-commerce websites as it offers almost 620 million monthly active users.
At $50.7 billion, China’s WeChat is a rising star having lifted its brand value by 126% over the previous year. Its influence is reflected in the impressive way in which the brand has successfully created a digital ecosystem for its 1 billion Chinese users who use the platform everyday to instant message; read, shop, hire cabs, and more. This is the first time WeChat has broken into the top 10.
IQIyi, another Chinese tech brand relying on the domestic customer base, is the world’s fastest growing brand this year, up 325% to $4.3 billion. The Baldu-owned online video platform is China’s answer to Netflix and hoss over 500 million monthly active users.
Digital and social media brands have also seen a rise through the ranks as Netflix’s brand value grows by 105% over the past year to $21.2 billion, making it set to play the lead role in the home entertainment sector.
YouTube is another rapidly growing digital media brand. Its brand value increase 46% to $37.8 billion retaining its spot in 11th place. Similarly, Twitter’s brand value also sees an increase to $3.2 billion whereas new entrant Instagram recorded a brand value of $16.8 billion. Facebook, however, drops in its brand strength from its AAA+ status to AAA in 2019 despite rising from 6th to 5th place. Facebook’s corresponding BSI has also decreased, now being an 82.9 out of 100.
David Haigh, CEO of Brand Finance, said: “The Amazon brand is well-positioned for further growth but the presence of Chinese brands this year is most impressive and certainly not to be ignored.”
Brand Finance Top 10