In any mobile app development project, an estimate of the development costs is the most important component of the budget. Today, app stores offer over 7 million apps for download. And due to the growing market of app development, the need for Mobile app Development services is increasing. Researched statistics on mobile app development present fascinating information about the sector and costs in 2022.
Following are some statistics for a study that are based on various publications and strategies, including Statista:
- By 2026, the mobile app development market is estimated to grow by more than 18.4% and reach an industry value of $407.31 billion.
- The mobile app market is expected to produce $581.9 billion in sales by 2020. If current trends continue, the industry’s sales will exceed $1 trillion by 2023.
As we know that the market is rapidly and actively growing, let’s look at how app development prices are determined.
How Much Does it Cost to Develop a Mobile App Varying with Complexities?
The most common question that arises from business owners and future app entrepreneurs is, how much does it cost to develop a mobile app? We have a short answer to this complex query. There are numerous factors and complexities which define the development cost.
According to these variations, the time and price to develop an app are decided.
- Simple apps: Businesses take 3 to 6 months and costs $70,000 to $100,000 to develop.
- Standard apps: The cost ranges between $120,000 to $170,000, with a time frame of 6 to 10 months.
- Complex apps: Complex apps cost more than standard apps, typically between $200,000 and $250,000, but sometimes even more, and take 10+ months to prepare.
It’s not always accurate that “a high price implies high quality.” Many young market companies lack the experience to provide high-quality services.
7 Variables that Affect the Price of Developing Mobile Applications
Numerous crucial factors affect the costs of designing a mobile app. Additionally, it will assist you in sticking to your spending limit.
Features and Functions of Apps
The features and functionalities you incorporate into your application will significantly impact how much it costs to design an app. With additional features, the mobile app development cost for the kind of app you want to create keeps rising.
Hence, limiting your focus to the app’s essential functionality in its initial iteration is wise.
Type of Application
The cost of creating an app differs widely depending on the genre. The number of users, capabilities, security requirements, and other factors all change as we move from one category to another, eventually resulting in varied app development prices. Now let us quickly review the most popular subcategories of mobile app development.
- Social media apps
- Instantaneous/ desired apps
- Hardware based apps
Mobile apps for e-commerce are top-rated right now. Mainly, due to the abundance of features that enable applications like Amazon and Wayfair to operate efficiently in real-time.
Animation and App Design
App design is the next element that goes into the cost of making an app calculation. Pay close attention to app design if you want consumers to spend time using your app.
We typically have two choices when choosing an app design. Personalised and Standard UI. Tailored UI costs extra since it is more expensive to create and build than the Standard UI.
Wireframe and animation are further aspects of mobile app design.
It’s crucial to select a platform before beginning the process of developing a mobile application.The most common app development platform options are listed below for your consideration:
- Native app platform (Android & iOS): Android app development is done in Java and/or Kotlin, while iOS app development is done in Swift and Objective C.
- Web app platform: Web apps are significantly more affordable than native apps. Web app development expenses are between $15,000 and $50,000 in terms of the total cost.
- Cross-platform – The newest, most cost-effective trend is simultaneously designing an app for iOS and Android. The platform provides several advantages, including the usage of a single code base and reduced development time.
- Hybrid app platform: Hybrid apps combine the best features of native and web – based apps. It is set up just like a native app but functions as a web view component.
What consumes your finances after app development? Unquestionably, costs continue beyond the last step of developing a mobile application. Businesses must keep up with shifting market trends and new devices, so keeping themselves updated incurs costs.
- Bug fixes for apps
- Changes to the design
There’s a drastic reduction of around 20 to 30 percent in the cost of mobile applications when companies choose to include the code of an existing app while only changing the branding components.
Availability and Location of the Development Team
Choosing the right developer for your mobile application will significantly impact the final cost. Another critical factor that affects app development pricing is the developer’s location. Let’s have a look at the table.
|Locations||iOS ($/hour)||Android ($/hour)|
Costs of Mobile App Development: Hidden Factors
This part will discuss the most frequent unanticipated expenses associated with developing mobile applications.
- Quality Control
Depending on the scale of your app you can hire a project manager, a quality control agent and a business analyst.
- Costs of Infrastructure
Costs associated with infrastructure for example servers, data storage, programming tools, libraries, storage, data hosting all of this increases a project’s expense and complexity.
- IT Maintenance Fees
Without ongoing technical help and IT support services, it is impossible to create a high-quality app. The price of support could, however, go substantially over time.
Now that you are reasonably familiar with all the aspects of the query, how much does it cost to develop a mobile app, it is the time to start your app development. For top-quality services in mobile app development, you can consult a reliable app development company like MMF Infotech if determining the final cost remains a challenge.