Google Tops in Most Powerful Global Brands

For the second year in a row, a technology brand ranked as number one among the most powerful global brand, a survey released Monday says.

The study by market research and consulting firm Millward Brown shows that Google ranks as the top brand with a value of $66.4 billion. It beat out competitor Microsoft, who was third with a market value of $55 billion, and non-tech companies GE and Coca-Cola, in second and fourth.

Brands from the Far East are also beginning to make their mark, with China Mobile moving into the fifth spot with a brand value of $41.2 billion. The increasing wealth of consumers in this region are also helping brands outside of the region to grow revenues, the group said.

However, Google's rise to the top is the most notable. It catapulted from seventh to first, and nearly doubled its market value. Microsoft went the other way, with its value dropping about $7 billion USD, the report showed.

"A lot can change in world business over 12 months, and this year's brand rankings are testimony to that with Google taking pole position as the world's most powerful brand," Financial Times editor Simon Targett said In a statement.

Other technoiogy companies making an appearance in the rankings were IBM, in ninth; Nokia in 12th, Hewlett Packard in 15th; and Apple in 16th.