Technology companies now account for 50% of the top 10 as Apple and Google top the rankings for the fifth straight year.

Facebook has climbed the ranks to become the world’s eighth most valuable brand, breaking into the top 10 for the first time.

The results are part of Interbrand’s 18th annual Best Global Brands report, which has been released today (25 September).

The report shows technology is the dominant sector, with tech giant Apple securing the highest rank as the world’s most valuable brand for the fifth year running, while Google retains its second place for the fourth year in a row. The top 100 brands have a combined total value of $1,872bn, an increase of 4.2% from 2016.

Apple’s brand value grew by 3% to $184.2bn, and Google’s brand value increased by 6% to $141.7bn. Microsoft has traded places with Coca-Cola and secured the third highest ranking and is one of just 16 brands to achieve double-digit growth. Coca-Cola is at number four, followed by Amazon, Samsung, Toyota, Facebook, Mercedes-Benz and IBM.

The ranking is based on three components that contribute to a brand’s cumulative value: the financial performance of the branded products and services, the role the brand plays in influencing customer choice and the strength the brand has to command a premium price or secure earnings for the company.

Facebook also saw the biggest growth over the past year, with its value up 48%, followed by Amazon (29%), Adobe (19%), Adidas (17%) and Starbucks (16%).

Jez Frampton, Interbrand’s global chief executive officer, says: “We are living in one of the most exciting periods of change – societal, technological, industrial – that impacts every aspect of commerce and life. In this ever-shifting context, growth becomes more challenging, which is why businesses need brands more than ever. The Best Global Brands understand that brands are the platform for growth.”

New entrants include Netflix (78), Ferrari (88) and Salesforce.com (84). 50% of the Top 10 is technology brands, compared to 40% in 2016. However, the automotive industry still has the largest number of brands in the top 100, with 16 entrants.

Interbrand CEO Jez Frampton says: “Half of the 10 brands at the top of the BGB 2017 list are in the technology sector. They have mastered creating experiences through technology that reinforce the value of the brand itself. For all 10 brands, nothing is invented for the sake of it. New innovations merge seamlessly into an ecosystem of other experiences, totally oriented around the brands themselves.”