Amazon has maintained its position as the world’s most valuable technology brand, but there is now a growing presence of Chinese companies in the Top 10.
Published by Brand Finance, the ‘Tech 100 2019’ lists US tech giants Amazon ($US187.9bn/$AU269.6bn), Apple ($US153.6bn/$AU220.4bn), Google ($US142.7bn/$AU204.8bn), Microsoft ($US119.5bn/$AU171.5bn) and Facebook ($US83.2bn/$AU119.4bn) as the five most valuable tech brands in the world.
As well as topping the list overall, Amazon also recorded impressive growth of 24.6 per cent, which Brand Finance says can be attributed to “an ever-diversifying portfolio”.
“Amazon is leaving no stone unturned as it relentlessly extends into new sectors, however its technological might still overshadows rivals to retain the status of the world’s most valuable tech brand,” said Brand Finance CEO David Haigh.
“The Amazon brand is well-positioned for further growth.”
And while the top five reflects the global dominance of Silicon Valley and the US technology ecosystem, the rest of the top 10 suggests Asia, particularly China, is hot on its heels.
“The presence of Chinese brands this year is most impressive and certainly not to be ignored,” said Haigh.
South Korea’s Samsung ($US74.9bn/$AU107.5bn) took out sixth spot, followed by four Chinese companies: Huawei ($US62.2bn/$AU89.2bn), WeChat ($US50.7bn/$AU72.8bn), Tencent ($US49.7bn/$AU71.3bn) and Taobao ($US46.6bn/$AU66.8bn).
WeChat had the greatest year-on-year growth of the top 10 companies, up 126.2 per cent on 2018.
“Its influence is reflected in the impressive way in which the brand has successfully created a digital ecosystem for its 1 billion Chinese users who use the platform every day to instant message, read, shop, hire cabs, and more,” says Brand Finance in the report.
“Whilst China’s burgeoning middle class makes it attractive to continue strengthening the brand domestically, the massive growth experienced by brands as they pursue international business is also appealing.”
Although not in the top 10, Baidu-owned online video platform iQiyi was the fastest growing brand all year, surging up 326 per cent to $US4.3bn ($AU6.2bn).