Even though its brand value has decreased by 15 percent, from $350.3 billion to $299.3 billion, Amazon has reclaimed its position as the most valuable brand in the world, according to a rating conducted by Brand Finance. According to an analysis done by "Brand Finance Global 500," Tesla and BYD automakers are two of the brands progressing at one of the highest rates globally.
The ranking places Apple, whose brand worth dropped by 16 percent to a new all-time low of $297.5 billion, as only the second most valuable brand in the world. In total, 48 different technology brands were considered for this ranking. Other tech-focused companies such as Samsung Group (now worth $99.7 billion), Alibaba.com (56% of which is now worth $10.0 billion), Facebook (42% of which is now worth $59 billion), and WeChat (19% of which is now worth USD 50.2 billion) have also seen their brand equity decrease.
Due to shifting customer preferences, the value of technology brands worldwide has significantly decreased. Demand for the services offered by technology companies has taken a particularly severe knock since consumers are beginning to return to some of the patterns they followed before the outbreak. In addition, there has been a disruption in supply chains, a lack of workforce, and increased barriers to funding, all of which have left their imprint.
Instagram's valuation increased by 42% to $47.4 billion, and LinkedIn's increased by 49% to $15.5 billion, both in the technology industry.
Electric vehicle manufacturers Tesla (with a 44% increase in brand value to $66.2 billion) and BYD (+57% to $10.1 billion) are examples of companies that have seen significant increases in their brand values. Regarding brand value, Tesla came in ninth, while BYD came in 199th, and despite its progress, there is still much room for improvement.
The automotive sector is represented in the top 50 by Mercedes (with a brand value of USD 58.8 billion), which Toyota follows in 19th place (also representing the automotive sector) (USD 52.5 billion). A almost $40 billion brand value placed BMW in the 33rd position on the list. Volkswagen was in 47th place with a total of $34 billion, while Porsche was in 40th place with a total of $36.8 billion.
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