Brand Finance 2022 Global 500 report: Apple retains title of world’s most valuable brand.

Why In News

• Apple has retained its position as the most valuable brand in 2022 as well, according to the Brand Finance 2022 Global 500 report. Following Apple, Amazon and Google have been named among the top-three most valuable brands in the year.
• The brand valuation of Apple was recorded at $355.1 billion in 2022, which is an increase of 35% from last year.
• This is the highest brand value ever recorded in the Brand Finance Global 500 ranking history.

Other key facts

• The Indian conglomerate Tata Group has emerged as the most valuable brand from India and also in South Asia.
• It is the only brand from the country in the top 100. The Global Rank of Tata Group 78. The brand value of Tata Group is US$23.9 billion.
• TikTok (18th) has been named the world’s fastest-growing brand in the list. Its brand value increased from US$18.7 billion in 2021 to US$59.0 billion in 2022.
• Tata Consultancy Services (TCS) has become the second most valuable brand in the IT services sector globally, While Infosys got third spot, Wipro (7th), HCL (8th), Tech Mahindra (15th) and LTI (22nd).
• Tech remained the most valuable industry in the list in terms of sector. This was followed by Retail, Banking, Media and Telecoms in top 5 respectively.