If you are planning to have a mobile app designed for your business, this article is for you!
Quite naturally, one of the initial and most important questions you would ask is- how much does it cost to develop an app? This article will put forward real and practical figures prevailing in the current market.
You are already ahead of a lot of businesses in the game if you have thought of translating your business into a mobile application. The mobile app industry is exploding with opportunities for you to grab. The amount of revenue generated by this industry is surely surprising. In 2015, global mobile app revenue amounted to 69.7 billion USD. Looking at the way this industry is booming, it is expected that by 2020 revenue will amount to 188.9 billion USD!
Having a mobile app for your business is a golden opportunity to let the money flow in. Chances are that, all the money and time you invest into creation of the mobile app; they will all pay off.
As the wind of technology has swooped across the entire planet, millenials are more than willing to try out new things (thanks to FOMO). In 2017 alone, there have been 197 billion app downloads!
With these kind of figures, anyone who is not even thinking of getting an app for their biz might end up changing their minds!
In 2018, it is not at all tough to get a customised app built for your business. You can easily catch up with the market trends in no time. The critical question: “how much will it cost me to get a mobile app” has no definite answer. However, the range is: $0 to millions!
It really depends on how much you are willing to spend, what kind of an application do you expect, how stellar do you want your app to perform, what kind of talent you acquire, from where does the talent come from, what features do you wish to add, how quickly do you wish to launch the app, ….
A lot of you might be surprised to see that you can actually get it for negligible price. If you wish to go forward with app development this way, you would have to do everything yourself. It may sound like a challenge to some, it may be a piece of cake for someone else.
Here are different ways to develop a mobile app at “almost-zero” cost:
Word of caution! Only if you have a knack for technology, go for it. Otherwise it might lead to serious never-ending frustration.
There are plenty of good resources available over the internet to teach you how to get started with mobile app development. Multiple educational websites guarantee you make you a hero from zero! If you have time, energy, passion; this is most likely the best way to proceed with it. It will be fun, you will learn a lot. You can even some earn money by making apps for others!
There is absolutely no upfront cost and none of the above mentioned technical expertise is a requirement. With an “almost-zero” or zero monthly fee, you can build up your own app from scratch. Some famous app builders are Appy Pie, Shoutem, Swiftic.
If you have the budget and require great expertise put into action, then the best option for you would be to outsource the work: get the experts! The aim is to assemble a team of experts. A typical mobile development team would have the following roles:
In a team, a single person can have multiple roles, or multiple people have responsibility of a single role. This depends upon the complexity of the application to be built. Some simple applications may take only 100 hours to build and some applications may even take 1000+ hours to build.
To decide the complexity and cost of the mobile app, multiple parameters have to be taken into consideration. (This is not an exhaustive list. There can be more hidden costs depending from one business to another.) For example:
Let us go through each parameter individually to get a profound idea about the costs associated with mobile app development.
An application can be of 3 types, each depicting a different level of complexity:
The most prominent platforms of today are: Android and iOS. Android is fairly more popular in South America/Africa/Asia. iOS is more popular in the USA/Europe.
iOS apps can be built faster than Android apps. As compared to iOS, Android apps take 2x to 3x more time. Therefore cost to build iOS app is less than Android. This is also the reason why most businesses launch iOS app first to check the response of the users. If it is positive, only then the businesses invest in creating Android application of the same.
For Android apps, cost ranges as follows:
Estimated costs for iOS apps (for Apple devices) are as follows:
Applications can be categorised into following categories depending upon the dynamic nature of the application:
There can be a plethora of features that can be added to a mobile app. Let us take base hour price as $25 and maximum hour price as $50. Some of the features can be:
This makes up the most crucial bit of app development. People from all over the world charge varying amount of money to develop applications. The following graph summarises annual salaries of app developers in different countries.
It can be seen that talent is most expensive in the USA and the cheapest in India. In general, hourly rate in North America is around $150 and $11 in India. A simple formula to calculate the overall cost of a mobile app can be:
Cost = Features x Time x Hourly rate
To clone an app like WhatsApp, it may take about 1500 hours. In India, it may take about $16,500. The same app would take about $2,25,000 in North America. The difference can indeed be shocking.
You may approach large and small app agencies to outsource your app or you may contact in-house or remote freelancers to get the work done. The options are plenty.
The costs incurred after the development of application can be termed as miscellaneous costs. For example: cost to maintain the application. The average cost of maintaining an app is about 20% of the development cost per year. For example, if your app development costs $100,000, you can estimate that app maintenance will cost you around $20,000 per year. Additional features may drive up the cost of app maintenance. Other costs associated with maintenance are:
There could be other hidden costs associated with an app like copyrighting, patenting etc. These actually depend upon the novelty of your app idea.
All these costs have to be taken into account before proceeding further with development. For convenience, there are various app development cost calculators in the market. A simple form has to be filled which solicits basic information about app like complexity, features, platform. Depending upon the fields, a rough estimate it chalked up by the algorithm. The popular ones are:
According to the report by Kinvey, businesses may spend about $270k to develop an app.
In terms of time, the whole process typically takes about a year for most businesses.
With this, we wind up our guide. We hope it helped you realise the costs of your business app idea.
Written by Niharika Singh