The tech world is a competitive one with many facets, dimensions and key players. Despite this, however, there has been an annual study about which company is considered the most valuable on an annual basis - and Apple has reigned supreme for years now. But due to several factors, Google has finally regained its top position.

As Fortune noted, the study from Brand Finance has been crowning Apple with its Most Valuable Brand award since 2011. However, the Cupertino-based company undoubtedly had a difficult 2016, with the mixed opinions about the iPhone 7, iPhone 7 Plus and the new 2017 MacBook Pro with Touch Bar. In numbers, the company's monetary value fell from US$145.9 billion to US$107.1 billion.

On the other hand, Google experienced leaps and bounds worth of growth. Overall, the company had a 24 percent increase in monetary value. In total, that puts the tech giant's value at US$109.5 billion. The difference from Apple's current numbers may not be that relatively significant, but it is enough to push the incumbent winner out of its pedestal.

There is more to putting Apple at the second spot than just financials. As the publication states, the study found that the Cupertino tech giant had failed to keep its technological advantage over its competitors. Moreover, it was argued that the company only provided illusioned changes - such as subtle design tweaks - when it was expected to and should have, provided material changes.

These issues are not new ideas, as this has been the public's cry against Apple over the year. The iPhone 7 and iPhone 7 Plus were largely similar to its predecessors and the 2016 MacBook Pro only raised the question on whether or not the Touch Bar was even a necessary addition. What was arguably the harshest criticism provided to Apple, however, is that it "overexploited the goodwill" of its customers.

On the other hand, the study hailed Google for continuing the good fight in its core search business. It was also stated that the search engine giant has increased its brand strength by two points. This meant that the company was in a position to demand more from its customers financially because it was delivering on its promises.

2016 was the year when the public first got its hands on the Pixel and Pixel XL, which were Google's first unsupported foray into the smartphone industry. As Y Media Labs reports, the company had actually taken a page out of Apple's books. In the sense that the California-based company was putting out handhelds that belonged to it through and through - a technique that Apple has been using for years now.

Moving forward, however, the publication argues that there is more to the tech world than just a battle between smartphones. No longer is it as important to have the better screen or better camera. The future of smartphones is about which handheld can make things easier. And even in this aspect, Google seems to have the upper hand. However, 2017 marks the tenth anniversary of the iPhone and big things are once expected from Apple.