SAP has been ranked as Europe’s leading and most valuable brand for the third year in a row by a new report.
The German-based firm, which has offices in 130 countries and more than 437,000 customers globally, saw its brand value increase by 4% over the last 12 months to around $57bn, according to report commissioners BrandZ.
The Top 100 Most Valuable Global Brands 2019 positioned SAP as the 16th most valuable brand overall with Amazon leapfrogging Google to the top spot.
However in the B2B market space, SAP is ranked as the third most valuable brand, behind Microsoft and IBM, after increasing its position based on its 2018 ranking.
Half of the top ten brands in the world trade in the technology sector. The industry grew by 4% in total in 2018. And, despite consumers raising concerns about privacy issues, is now worth an estimated £1,651bn. SAP once again cemented its position as one of the top ten technology brands featuring in seventh position, ahead of competitors such as Salesforce (14th) and Oracle (16th).
The report notes that the leading brands are now addressing functional, emotional and social needs in a number of different ways. It adds that brand equity has three main components. These are being meaningful, different and salient. Something SAP’s Chief Marketing Officer, Alicia Tillman, says the company “excel in all three” categories.