Wednesday, May 21 10:35:11
Google has overtaken Apple to become the world's most valuable global brand in the 2014 BrandZ Top 100 Most Valuable Global Brand ranking.
Google is now worth $159 billion, an increase of 40pc year on year.
After three years at the top, Apple slipped to No 2 on the back of a 20pc decline in brand value, to $148 billion.
Whilst Apple remains a top performing brand, there is a growing perception that it is no longer redefining technology for consumers, reflected by a lack of dramatic new product launches.
The world's leading B2B brand, IBM, held onto its No 3 position with a brand value of $108 billion.
"This year's index highlights the end of the global recession, with a strong recovery in valuations and real growth across every category and the Top 100 brands,” said Maureen van Wijk, Managing Director, Millward Brown Ireland.
"What's remarkable is the way that strong brands have led the recovery. Seventy-one of the brands listed in the 2014 Top 100 were there in 2008. Despite the financial turmoil and the digital disruption that have decimated many businesses during the last few years, these brands have remained in the ranking, proving the durability of strong brands."
The BrandZ Top 100 Most Valuable Global Brands study, commissioned by WPP and conducted by Millward Brown Optimor, is now in its ninth year. It is the only ranking that uses the views of potential and current buyers of a brand, alongside financial data, to calculate brand value.
The combined value of the Top 100 has nearly doubled since the first ranking was produced in 2006. The Top 100 today are worth $2.9 trillion, an increase of 49pc compared with the 2008 valuation, which marked the start of the banking and currency crisis.
Not only are the top four brands technology companies, but so too are many of this year's biggest risers. This year's fastest climber was leading Chinese internet brand Tencent, up 97pc to $54 billion and the No 14 position, followed by Facebook which rose 68pc to $36 billion and took the No 21 spot. New brands in the Top 100 include Twitter at No 71 with a brand value of $14 billion and LinkedIn at No 78 worth $12 billion. Collectively, Technology companies make up 29pc of the value of the BrandZ Top 100 ranking.