BRAND VALUATION

Amazon takes a bite out of Apple’s brand value in new tech rankings

By our News Team | 2023

Researchers say Amazon’s ‘relentless pursuit of customer-centric innovation’ is a key element in its rapidly growing brand value.

Amazon has overtaken Apple to become the world’s most valuable tech brand, with a brand value of almost US$300-billion. This is according to Brand Finance’s Tech 100 2023 ranking.

The world’s top 100 most valuable and strongest tech-sector brands are included in the annual ranking.

Brand strategy

An Amazon distribution facility in Germany. Photo credit: Blu-news.org via Wikimedia Commons

Amazon’s brand value has increased 36% since the beginning of the pandemic and it is now also the world’s most valuable brand across all sectors, the research team states. This means that it has knocked Apple from top spot.

“The global dominance of Amazon as the world’s leading tech brand cannot be ignored,” says Richard Haigh, Managing Director of Brand Finance

“[It’s] relentless pursuit of customer-centric innovation has not only transformed the way we shop but has challenged and overhauled traditional business models. 

“The tech giant must now look to maintain its competitive edge amid the rapidly evolving landscape, especially as eyes are on the brand now more than ever.”

Rounding out the top five Most Valuable Brands in the Tech 100 2023 rankings are Google, Microsoft and Samsung. Four of these are from the US, while Samsung is South Korean.

Huawei still in top 10 despite difficulties

China’s Huawei brand remains in the Top 10 Most Valuable Brands (10th position) despite what the research team says has been a difficult operating environment.

“Despite facing headwinds from global political challenges, the semiconductor shortage, and a global slump in demand for smartphones, Huawei remains in the top 10 most valuable tech brands, with its brand value falling 38% to US$44.3-billion,” Brand Finance states.

“Huawei’s consumer business, which provides smartphones, tablets and other consumer electronics, was the hardest hit by the various challenges. However, the brand’s other operations, such as its carrier business and its enterprise business, performed relatively well.”

Elsewhere, Japan’s NTT DATA (brand value up 55% to US$8.9-billion) is the Fastest-Growing Tech Brand in the ranking this year. This is because NTT Corporation and NTT Data formally integrating their offerings more closely and launching a combined brand to accelerate global IT modernisation and digital transformation. 

LinkedIn (brand value up 49% to US$15.5-billion) is the tech sector’s second fastest-growing brand, substantially because of its improved standing as a recruitment and news advertising tool.

The Brand Finance Top 10 Most Valuable Tech Brands are as follows:

  1. Amazon (USA)
  2. Apple (USA)
  3. Google (USA)
  4. Microsoft (USA)
  5. Samsung (South Korea)
  6. TikTok (China)
  7. Facebook (USA)
  8. WeChat (China)
  9. Instagram (USA)
  10. Huawei (China)

You can view the full Brand Finance Tech 100 2023 report here.

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