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Technology companies continue to be the most valued brands globally, with the top five most valued companies from the technology sector, according to Brand Finance 2024.
Samsung has entered the top five most valued brands globally.
Apple secured the first position after falling to the second spot in 2023.
Apple's brand value increased by $219 billion (74 per cent) to $517 billion.
"Apple has achieved a remarkable brand value increase, even as iPhone volume share has largely plateaued.
"Its strategy of finding new markets, expanding its ecosystem, and encouraging upgrades to higher-value iPhones has been highly effective," stated the Brand Finance report.
Apple has maintained its position as the dominant player in the premium smartphone market, holding a 71 per cent value share.
From an Indian perspective, Tata Group was the only Indian brand among the top 100 most valued brands.
Tata improved its ranking from 69th in 2023 to 64th in 2024.
The total value of Tata Group stood at $28.63 billion.
Brand Finance research found significant gains among brands that have heavily invested in artificial intelligence, seeing NVIDIA (brand value up 163 per cent to $44.5 billion) become the world's fastest-growing brand.
Microsoft (brand value up 78 per cent to $340.4 billion) also saw an impressive brand value increase, rising two spots to second place.
David Haigh, chairman and chief executive officer of Brand Finance, commented, "Apple has grown its brand value through strategic diversification and premiumisation, moving away from heavy reliance on iPhone sales towards ventures into wearables and services such as Apple TV subscriptions.
"According to our research, more than 50 per cent of respondents recognised Apple as expensive but worth the price, reinforcing the brand's ability to demand a price premium."
Deutsche Telekom (brand value up 17 per cent to $73.3 billion) has claimed the title as the world's most valuable telecommunications brand, surpassing Verizon (brand value up 6 per cent to $71.8 billion).
Ranked ninth globally, Deutsche Telekom also leads as the most valuable European brand.
Tesla (brand value down 12 per cent to $58.3 billion) has dropped out of the top 10, falling to 18th place in the ranking.
Tesla has been harmed by its large exposure to the Chinese electric vehicle market, and BYD (brand value up 20 per cent to $12.1 billion) has now overtaken Tesla to become the world's largest electric vehicle maker.
While Tesla's brand strength remains high overall, rated AAA-, Brand Finance research shows a significant fall in reputation.
Tesla's close association with Elon Musk, a controversial leadership figure, creates added reputational risk for the brand.
"That said, despite BYD's greater production volume, Tesla's brand value is five times that of BYD.
"This highlights the enduring significance of brands as corporate assets, allowing Tesla to command a price premium, support its company value, and potentially fuel renewed growth," the report noted.
