What is the cost of mobile app development? This question is one of the most frequently asked ones in today’s growing customer needs and changing digital environment.
However, the answer to this question is not so simple even for mobile app developers.Why? Because there is no fixed development cost of a mobile application. It depends on numerous factors such as:
- Features and functionalities of the app
- Vendor type and their geolocation
- Complexity of UX/UI design
- Inclusion of additional branded visual elements
- Backend infrastructure
- Development approach (mobile web, native, hybrid, etc)
- Number of platforms to be developed (Android, iOS, web, etc)
With the increasing number of smartphone users, entrepreneurs are keen on mobile app development company for their business. Smartphone users will surpass six billion in 2021 and according to the forecast it is going to grow by several hundred million in the next few years. That’s a lot of numbers!!
Did you know that mobile app revenues are increasing constantly? Here is a fact check to clear any confusion. Global mobile app revenue was 365 billion U.S. dollars in 2018. Mobile apps are projected to generate more than 935 billion U.S. dollars in revenues via paid downloads and in-app advertising in 2023.
In a nutshell, users download 30 apps each month. It is safe to say that investing in app development budgets is the need of the hour irrespective of the size of your business.
Keeping the above two factors in mind, in this article we will discuss:
- Cost of developing an app: ballpark figures
- Ways to find out your app development cost estimate
- Build your app in budget by understanding your app type
Cost Of Developing An App: Ballpark Figures
As you already know, the cost of developing an app with a mobile application development company depends on the app’s complexity, features, and the type of firm hired to do the job.
Clutch surveyed 102 app development companies to determine the cost of building a mobile app. Below is the average minimum app development project size and cost survey.
According to the survey, the average minimum app development project is between $5,000 to $10,000. However, the typical cost to create an app is likely to be far higher. Let’s look into mobile app development cost estimate figures:
- The cost of developing a simple app for one platform is approx $60,000.
- Mobile app development budget for a basic app like Dominos varies from $60,000 to $150,000 per platform.
- Cost of mobile app development for a complex and multi-feature app like Instagram, Facebook, Uber, etc starts from $300,000.
You must be wondering about the timeline to build an app. According to a report by Outsystems survey, over 80% of mobile apps take 3 plus months to develop an app. However, 40% of apps are built in 6 plus months as they are more complex.
Content source: https://appinventiv.com/blog/app-development-budget-by-app-type/
