New report reveals the brands across multiple sectors that are big now and those that are growing fast
Knowing the sectors, industries, and individual companies that are set for growth is essential for smart investors and their advisors.
But with so much turmoil for businesses in the past two years, which firms are the most valuable right now, and which industries and companies are likely to be the next big thing?
The annual ranking of the 500 most valuable brands in the world has just been published by accountancy firm Brand Finance and reveals that tech continues to dominate the top 10.
Apple is the world’s most valuable brand, worth US$355.1 billion, based on the rankings’ methodology which considers both market valuations and how specific actions, taken by marketing and other corporate managers, result in changes to a brand's attributes.
The top spot for Apple has been both retained and strengthened, with a 35% year-over-year increase in brand value and marking a new record high for the ranking.
"Apple commands an amazing level of brand loyalty, largely thanks to its reputation for quality and innovation. Decades of hard work put into perfecting the brand have seen Apple become a cultural phenomenon, which allows it to not only compete, but thrive in a huge number of markets," explained David Haigh, chairman & CEO of Brand Finance.
The technology, media, and telecoms (TMT) sector accounts for a further 7 of the top 10 spots including second placed Amazon ($350.3bn), and Google ($263.4bn), although the report puts Amazon in the retail sector.
Microsoft, Samsung, Facebook, Huawei, and Verizon also make the top 10, with Walmart and Chinese banking group ICBC the only two firms not from the TMT sector to make the elite group.
Fastest-growing brands
Furthermore, the fastest-growing brand in the ranking is Tik-Tok. The social video platform’s brand value has increased from $18.7 billion in 2021 to $59.0 billion this year and is a new entry in the top 500 at number 18.
Social media app Snapchat and Korean internet firm Kakao complete the top 3 fastest-growing brands.
"Media consumption has increased throughout the COVID-19 pandemic, but – what is more – the way we consume it has irrevocably changed. TikTok's meteoric growth is the proof in the pudding – the brand has gone from relative obscurity to internationally renowned in just a few years and shows no signs of slowing down," added Haigh.
Meanwhile, the pharma sector has seen faster growth in the ranking over the last two years than any other, and the number of pharma brands in the ranking has doubled from four to eight, with brand value increasing by 94% to $54.0 billion.
