Amazon has overtaken Google and Apple to become the world's most valuable brand at $315.5 billion, according to a ranking of global companies, up 52% on last year.

Apple comes second, valued at $309.5 billion, with Google in third place, at $309 billion, according to the BrandZ Top 100 Most Valuable Global Brand ranking 2019, compiled by WPP research agency Kantar and released Tuesday.

Google and Apple had spent a combined 12 years at the top of the list, with Google taking the top spot in 2018.

Doreen Wang, Kantar's global head of BrandZ, said Amazon's jump was due to it selling a variety of services. "Amazon's phenomenal brand value growth of almost $108 billion in the last year demonstrates how brands are now less anchored to individual categories and regions. The boundaries are blurring as technology fluency allow brands, such as Amazon, Google and Alibaba, to offer a range of services across multiple consumer touchpoints," she said in a statement emailed to CNBC.

Amazon has been increasing investments in a range of companies as its core business slows, including self-driving car start-up Aurora and electric truck company Rivian, as well as expanding Amazon Air, its airplane business. It bought online pharmacy PillPack for $753 million in 2018 and last month led a $575 million funding round into food delivery company Deliveroo.