Brand Finance: Apple is world’s most valuable brand
U.S. companies dominated the upper tier of an annual ranking of the world’s top 500 most valuable and strongest global brands.
Apple claimed the top spot in the annual Brand Finance Global 500 2024 ranking. The study noted that the company achieved “exceptional” brand value growth, increasing by $219 billion (74%) to $517 billion. Apple was followed in the rankings by Microsoft (brand value: $340 billion) and Google ($333 billion). Rounding out the top five were Amazon ($309 billion) and Samsung ($99 billion). The 25 most valuable brands are listed at end of article.
Although iPhone sales have largely plateaued, Apple’s strategy of finding new markets, expanding its ecosystem, and encouraging upgrades to higher-value iPhones has been highly effective, the report noted. Apple has maintained its position as the dominant player in the premium smartphone market, with a share of 71%.
"According to our research, more than 50% of respondents recognized Apple as expensive, but worth the price, reinforcing the brand's ability to demand a price premium,' said David Haigh, chairman and CEO, Brand Finance.
The report ranked NVIDIA as the world’s fastest-growing brand, with its value up 163% to $44.5 billion. A key supplier of chips in the AI space, the company is perceived as highly innovative while familiarity, consideration, and recommendation levels all increased year-on-year, according to Brand Finance research. Microsoft, which took the number two spot, also saw an impressive brand value, up 78%
Methodology
Brand value is understood as the net economic benefit that a brand owner would achieve by licensing the brand in the open market, according to Brand Finance.
The company calculates brand value using the “royalty relief” methodology, which determines the value a company would be willing to pay to license its brand as if it did not own it. This approach involves estimating the future revenue attributable to a brand and calculating a royalty rate that would be charged for the use of the brand.
25 Most Valuable Brands
Below are the 25 Most Valuable Brands from the Brand Finance Global 500 2024 report.
- Apple
- Microsoft
- Amazon
- Samsung Group
- Walmart
- TikTok
- Deutsche Telekom
- ICBC
- Verizon
- StateGrid Corp. of China
- China Construction Bank
- Starbucks
- Agricultural Bank of China
- Mercedes-Benz
- Tesla
- Oracle
- Home Depot
- Toyota
- Bank of China
- Shell
- Moutai
- AT&T