New Delhi: According to independent brand consultancy, Brand Finance, the next decade could usher in a new era dominated by brands from emerging markets like India and China, challenging the stronghold of companies from the US and the European Union for the top slot among global brands.

The London-based consultancy's annual report on the world's most valuable brands for 2006, gives the global league table - BF250, which is dominated by 112 US brands, 92 European brands with Coca-Cola in the number one position and the remaining 45 brands coming from across the globe with a small number from emerging markets.

In its latest report, it says, "We anticipate that over the next ten years both non-traditional brands and brands from the developing world will be fighting for position within the top 20. In future years we expect to see an increasing number of brands from Brazil, Russia, India and China and also from other emerging markets."

The survey ranks the world's top ten brands as Coca-Cola, Microsoft, Citibank, Wal-Mart, IBM, HSBC, GE, Bank of America, Hewlett-Packard and cigarette maker Marlboro.

The report reveals that among the top three brands globally, Coca-Cola has a value of $43 billion dollars, followed by Microsoft in second place with $37 billion dollars and financial firm Citibank only slightly behind on $35 billion.

Meanwhile, the report predicts that the brands from emerging markets are most likely to become takeover targets of cash rich brands from the developed markets, regulatory conditions permitting.