The mobile app market depicts no signs of deceleration, and, of course, more and more people are examining a common query associated with the cost of building an app. While we all use apps for communication, games, lifestyle, business, food, sports, creating your app is a problem for some of us.
After going through multiple websites and articles, we observed that “actual cost of app development” remains volatile and blurred. As expected, there is a set of misinformation and mystery surrounding the real cost of creating an application.
And this shouldn’t amaze us.
While tracking the continually growing graph of digitization, apps have been a cornerstone of this revolution. It may surprise some potential entrepreneurs to find out how much time and money is spent on it and what it takes to get a decent ROI.
Will try to uncover some of the mysteries that can help you decide your mobile app development budget.
Typically, the cost of creating a mobile app varies widely, from a total of zero to an incredibly high price, which can reach millions. Although, frankly, there is no easy answer to that question due to several factors such as different project complexity, developer speeds, and the time required to build an application affect development costs.
Let’s get you through real studies that suggest the pricing of mobile apps,
- According to a VDC Research survey, the average cost of mobile apps is $140,000.
- A Kinvey survey of CIOs found the average price to be $270,000 per app.
- An EMM survey showed over 75% of enterprises budgeting over $250,000 for mobility solutions, with over 25% budgeting over $1.5 million.
- A Forrester survey found that an average amount spent on a mobile apps ranges between $50,000 to $150,000 is 35% of the real cost in two years.
Factors That Determine Mobile App Development Costs
The cost factor is affiliated to multiple factors that are inherited in the app development process.
The key objective of the research is to understand the demands and needs of the market. Appropriate research before executing your plans is critical to the success of the application. This enhances the final product quality.
Startups generally don’t have enough time and money to research. On the other hand, established companies invest a lot in research. Therefore, research is a critical area for a smart investment.
Developers and Vendors
The developers working on your app are critical in defining the cost of your app. Three major resources work on your application are; offshore developers and in-house developers. There is one more practical option, a reputed app development company. However, it could be a reliable choice but comes at a high cost.
In-house developer’s charge a reasonable fee, and offshore developers are expensive to hire. Depending on your budget, you can choose between one and the other. Resources are essential for the quick and economical completion of the development phase of your application. It also takes a large part of the overall app development budget.
The mobile platform you wish to use your application is essential to determine the final cost of developing your application. The three leading operating platforms on the market are AndroidOS, iOS, and WindowsOS.
AndroidOS supports multiple devices and requires combined efforts to develop an application. iOS is relatively required less effort as it limited to Apple devices only. Therefore, Android apps are costlier than apps on iOS.
Testing is a crucial part of determining costs and defines app success. Finally, it is essential to do a thorough test before an application is revealed. The final test is more tuned than the first.
Repeated application tests can be performed to achieve the desired results. You can make changes to your app based on external reviews. This will increase your budget. It is impossible to escape these costs, as it determines the success of an application.
Updates and Maintenance
Developers strive to provide the best technology for their customers. Maintenance costs, even for the most straightforward applications, are around $4000/ month. Maintenance costs go in sync with the scale of the project. Maximum costs can reach around US $30,000 / month.
These costs depend on the frequency of application updates and your company’s needs. Almost 50% of the dominant mobile apps are updated at least twice a month, while nearly 40% of them are updated every six months.
Native or Hybrid
The choice between native and hybrid applications should be based on your preferences. Native apps are intended for an individual platform and can only be downloaded from a specific app store. On the other hand, hybrid applications are designed to work across multiple platforms and websites.
A native application is relatively faster and costs more than a hybrid app. Therefore, your choice of application type can dramatically change the final cost of developing the app.
Time is another part that can determine the cost of the application. Developing an extensive, multi-sided application can take more time. It will be more costly due to the consumption of additional resources.
According to OutSystems survey, around 80% of mobile app development takes over 3 months, and 40% of them took 6 months or more.
Most application developers charge between $ 30 and $ 50 an hour for work. Peak hour rates are charged primarily by developers in North America. Mobile application developers in Europe and Asia charge up to $ 100 an hour.
These were some top factors that have a significant impact on the overall app development cost.
As, you’ve stayed with us this far,
Let’s discuss some hidden features that cost a ton in terms of pre- and post-development cost estimates.
Top Integrations with Costs In Mobile App Development
Below are some of the Integrations and their cost that no one tells you about.
- Social & chat integrations – $1,200/year
- Development tools, libraries and support – $1,200/year
- App update submissions – $2,400/year
- Push notifications – $2,400/year
- Data storage – $3,600/year
- CDN – $3,600/year
- Images data – $4,800/year
- APIs – $5,000/year
- iOS and Android updates – $10,000/year
- Servers – $12,000/year
So, how much does it take finally to build an app?
Costs for developing mobile applications vary from case to case. The mobile app development cost varies, with factors such as complexity, scope, necessary resources, and even the type of business users. Finally, the cost of developing an application depends on what purpose and how effectively it does.
Panacea Infotech, a pioneering mobile app development company offers a serves multiple industries with app development services and support. If you have an app idea and wish to know its actual cost!
Connect with us now