Apple Brand Value Grows by 35% to Reach Record Breaking $355 Billion, Amazon Comes in Second

The value of a brand is based on several factors, and it can be difficult to ascertain due to the diversity in the factors that are at play. In spite of the fact that this is the case, Apple has managed to make a strong case for itself as the single most valuable brand in the world with all things having been considered and taken into account. Apple’s brand is currently valued at around $355 billion, and that is all thanks to its strong sales despite inflationary pressures.

This comes from a report released by Brand Finance, and with all of that having been said and now out of the way it is important to note this report reveals just how much of a gap there is between Apple’s brand value and that of other brands. Amazon is the only company that is able to come close with its $350 billion brand value putting it comfortably in second place, and Google holds a distant third with its brand being valued at $263 billion.

We might even see Amazon eclipsing Apple’s brand value in the coming years, since its 38% growth has brought it quite close to Apple this year. Apple has also seen a brand value increase of 35%, but that is notably a hair shy of Amazon’s brand value growth rate, and it will be interesting to see what happens in the next fiscal year to see the final results. Amazon eclipsing Apple will be a major upset, although both of these companies are still miles ahead of any of their competitors.

Apple’s place at the top spot is pretty secure right now considering that half of all US consumers own an iPhone, and that’s not even counting the various other Apple products they might own. Still, Amazon has managed to weather an uncertain economic climate and sustain its rapid growth rate, and that might help to bolster the company’s falling stock prices in the coming years.

Another interesting entrant into this list is TikTok. The company has seen a huge rate of growth, and the value of TikTok’s brand has seen a staggering increase of about 215%. This is the fastest brand value growth rate among all of the companies on this list, and it’s not surprising considering that TikTok has seen a soaring increase in its user count going from 290 million to 655 million within the span of two years. If this trend keeps up, TikTok might be able to enter the billion user category by 2025.

One thing that eagle eyed readers might notice is that a majority of the companies who have the highest brand value are tech and services companies. This industry has a total brand value of over $2 trillion, which is double the aggregated brand value of the second most valuable industry, namely media and telecoms. Also, Amazon’s niche of retailer and consumer goods has a total value of around $920 billion, which means that Amazon alone holds a third of the brand value of that particular niche which gives it a lot of power and might help it cement its position in the top spot.

H/T: VC

Read next: This Study Shows the Severe Impact of Inflation on Global Consumers
by Zia Muhammad via Digital Information World