New Brand Finance data shows that the commercial services sector is undergoing significant transformation, driven by rapid digitalisation
LONDON, 10 June 2025 - The collective brand value of the top 100 commercial services brands is USD474.0 billion in 2025, with a year-on-year growth of 6%, according to the latest Commercial Services 100 2025 ranking by Brand Finance, the world’s leading brand valuation consultancy. The commercial services sector is undergoing a major transformation, fuelled by rapid digital innovation, shifting consumer demands, and tightening regulatory frameworks. Eight out of 17 countries (excluding Canada) recorded double digit growth, led by commercial services brands from Belgium, Switzerland and UAE.
Consulting and advisory firm Deloitte (brand value down 2% to USD41.1 billion) is again the world’s most valuable commercial services brand in 2025 the seventh year in a row. As a Worldwide Olympic Partner through to 2032, Deloitte applies its in-depth expertise in management and business consulting to help enhance and secure the IOC’s digital ecosystem supporting the Olympic Movement. The significance and popularity of the Olympics and Deloitte’s brand placement likely contributed to gains in brand strength observed year on year in our general public tracking, demonstrating the continued deepening of Deloitte’s brand strength.
Credit card company American Express (brand value up 9% to USD39.6 billion) remains in second place, solidifying its dominance in premium financial services. The brand continues to capitalise on the rising demand for digital payment solutions, particularly in the B2B and luxury consumer segments.
Visa (brand value up 15% to USD32.2 billion) climbs to third, overtaking EY in the rankings, further strengthening its role as a leader in digital payments and global transaction networks. With the rise of real-time payments and digital wallets, Visa continues to set new standards for secure financial transactions across borders.
Japanese economic research and consultancy brand NRI (brand value up 106% to USD2.1 billion) is the commercial services sector’s fastest-growing brand, after more than doubling its brand value from 2024. This is driven by a significant rise in its Brand Strength Index (BSI) score of 82.3/100, a substantial improvement from its score of 56.4/100 last year. Increased familiarity, a stronger reputation, and high assurance ratings have all contributed to this surge.
Annie Brown, Valuation Director, Brand Finance, commented:
“In an era of unprecedented disruption in the business landscape, the value of commercial services brands is now strongly influenced by their ability to navigate digital pivots, regulatory shifts, and critical sustainability mandates, among others. Our latest ranking underscores that the brands commanding the top positions are those exhibiting remarkable resilience, pioneering innovation, and a powerful connection with evolving market and stakeholder expectations."
Japan’s SECOM climbs 21 spots to become the strongest commercial services brand this year, earning a BSI score of 95.6/100 and an AAA+ brand strength rating. SECOM's BSI score reflects its exceptional brand perceptions in the Japanese market, where it consistently excelled in metrics such as familiarity, assurance, and appeal.
Equifax (brand value up 31% to USD3.9 billion) is the second strongest brand in the sector with a BSI score of 94.2/100 and a AAA+ brand strength rating while PayPal (brand value up 25% to USD18.5 billion) takes the third rank with a BSI score of 93.6/100 and AAA+ rating, exemplifying a brand with a broader presence beyond its domestic market. While it has a strong reputation at home in US, especially in familiarity and appeal, Brand Finance’s market research reveals that PayPal has also built significant recognition in India and Egypt.
Brand Finance is the world’s leading brand valuation consultancy. Bridging the gap between marketing and finance, Brand Finance evaluates the strength of brands and quantifies their financial value to help organisations make strategic decisions.
Headquartered in London, Brand Finance operates in over 25 countries. Every year, Brand Finance conducts more than 6,000 brand valuations, supported by original market research, and publishes over 100 reports which rank brands across all sectors and countries.
Brand Finance also operates the Global Brand Equity Monitor, conducting original market research annually on 6,000 brands, surveying more than 175,000 respondents across 41 countries and 31 industry sectors. By combining perceptual data from the Global Brand Equity Monitor with data from its valuation database — the largest brand value database in the world — Brand Finance equips ambitious brand leaders with the data, analytics, and the strategic guidance they need to enhance brand and business value.
In addition to calculating brand value, Brand Finance also determines the relative strength of brands through a balanced scorecard of metrics evaluating marketing investment, stakeholder equity, and business performance, compliant with ISO 20671.
Brand Finance is a regulated accountancy firm and a committed leader in the standardisation of the brand valuation industry. Brand Finance was the first to be certified by independent auditors as compliant with both ISO 10668 and ISO 20671 and has received the official endorsement of the Marketing Accountability Standards Board (MASB) in the United States.
Brand is defined as a marketing-related intangible asset including, but not limited to, names, terms, signs, symbols, logos, and designs, intended to identify goods, services, or entities, creating distinctive images and associations in the minds of stakeholders, thereby generating economic benefits.
Brand strength is the efficacy of a brand’s performance on intangible measures relative to its competitors. Brand Finance evaluates brand strength in a process compliant with ISO 20671, looking at Marketing Investment, Stakeholder Equity, and the impact of those on Business Performance. The data used is derived from Brand Finance’s proprietary market research programme and from publicly available sources.
Each brand is assigned a Brand Strength Index (BSI) score out of 100, which feeds into the brand value calculation. Based on the score, each brand is assigned a corresponding Brand Rating up to AAA+ in a format similar to a credit rating.
Brand Finance calculates the values of brands in its rankings using the Royalty Relief approach – a brand valuation method compliant with the industry standards set in ISO 10668. It involves estimating the likely future revenues that are attributable to a brand by calculating a royalty rate that would be charged for its use, to arrive at a ‘brand value’ understood as a net economic benefit that a brand owner would achieve by licensing the brand in the open market.
The steps in this process are as follows:
1 Calculate brand strength using a balanced scorecard of metrics assessing Marketing Investment, Stakeholder Equity, and Business Performance. Brand strength is expressed as a Brand Strength Index (BSI) score on a scale of 0 to 100.
2 Determine royalty range for each industry, reflecting the importance of brand to purchasing decisions. In luxury, the maximum percentage is high, while in extractive industry, where goods are often commoditised, it is lower. This is done by reviewing comparable licensing agreements sourced from Brand Finance’s extensive database.
3 Calculate royalty rate. The BSI score is applied to the royalty range to arrive at a royalty rate. For example, if the royalty range in a sector is 0-5% and a brand has a BSI score of 80 out of 100, then an appropriate royalty rate for the use of this brand in the given sector will be 4%.
4 Determine brand-specific revenues by estimating a proportion of parent company revenues attributable to a brand.
5 Determine forecast revenues using a function of historic revenues, equity analyst forecasts, and economic growth rates.
6 Apply the royalty rate to the forecast revenues to derive brand revenues.
7 Discount post-tax brand revenues to a net present value which equals the brand value.
Brand Finance has produced this study with an independent and unbiased analysis. The values derived and opinions presented in this study are based on publicly available information and certain assumptions that Brand Finance used where such data was deficient or unclear. Brand Finance accepts no responsibility and will not be liable in the event that the publicly available information relied upon is subsequently found to be inaccurate. The opinions and financial analysis expressed in the study are not to be construed as providing investment or business advice. Brand Finance does not intend the study to be relied upon for any reason and excludes all liability to any body, government, or organisation.
The data presented in this study form part of Brand Finance's proprietary database, are provided for the benefit of the media, and are not to be used in part or in full for any commercial or technical purpose without written permission from Brand Finance.
