Apple has become the world's first trillion-dollar brand, according to the latest Kantar BrandZ Most Valuable Global Brands Report 2024. Holding the top position for the third consecutive year, Apple is joined at the top of the ranking by Google, Microsoft and Amazon — reflecting technology's enduring place in everyday life.
McDonald's also retains its position in the top five.
Its success is bolstered by its continued innovation, including its use of AI for scenarios such as dynamic menu boards and order prediction. This demonstrates how non-tech brands are also exploring AI to unlock growth, according to the report.
Illustrating the nascent power of AI in everyday life, NVIDIA leaps 18 places to the sixth position in the 2024 ranking with a brand value increase of 178%. Facebook rejoins the top 10 after a one-year absence, while Oracle joins the top 10 for the first time, the report shows.
The 2024 BrandZ ranking underscores the resilience of top brands, with the total brand value of the Global Top 100 rebounding 20% to reach USD$8.3-trillion, close to the 2022 peak of USD$8.7-trillion. Since its launch in 2006, the brand value of the Global Top 100 has increased 474%. The threshold to join the Top 100 has increased 354% from USD$4-billion to USD$19-billion, according to the study.
Martin Guerrieria, head of Kantar BrandZ, says, "With its USD$1-trillion brand valuation, Apple has proven resilient in the face of testing market conditions, justifying premium prices and proving that meaningful, different and salient brands are best placed to weather global economic disruption."
"Our 2024 global report reveals that strong brands continue to thrive despite global economic uncertainty. This year, brands investing in AI are seeing remarkable gains by reaping the benefits of enhanced customer experience. But effective marketing takes many forms, whether via great content, new innovations, effective media strategy, savvy pricing and more," adds Guerrieria.
"Crucially, investment in effective marketing helps to improve consumer predisposition and drive brand value growth, contributing significant dollar value to support sustained business success," Guerrieria says.
Alongside NVIDIA, AI-titans Adobe and AMD also made impressive gains, securing a spot among the top 20 risers with brand value increases of 66% and 53% respectively. Together, with resurgent growth for Instagram, Facebook and Uber, these companies highlight how technological innovations can drive consumer engagement and accelerate growth, the report says.
The Kantar BrandZ Most Valuable Global Brands 2024 report, including the Global Top 100 and 13 category rankings and extensive analysis, is now available here.
For more information, visit www.kantar.com.
*Image courtesy of contributor