The increased use of remote technology solutions has resulted in an unrivaled rise in the mobile app development market. Most of these solutions enable users to communicate with friends or colleagues located in different locations.
From video conferencing to cloud storage, the need for data-driven mobile apps is growing in terms of customer base and revenue.
The market for daily fantasy sports apps has become more competitive, with every sports fan using such an app to monetize their knowledge of the game.
As we approach the Web 3.0 era, we can see how technology leaders invest in developing robust and secure decentralized finance (DeFi) applications.
Users can now access services on-demand, such as hailing a cab or ordering food.
There are numerous examples of how fast-paced, competitive, and rewarding the app development market has become.
Investing in the mobile app market is an opportunity for any business leader to earn high revenues while leading the change with technology.
PayPal, Google Pay, Uber, Instagram, WhatsApp, Zoom, and other mobile applications have become essential to their users’ lives.
Before proceeding with the process’s development and other technical aspects, anyone with an app idea should consider two important questions.
- How much does it cost to develop a mobile app?
- Whom should we hire to build an app of our vision?
Answers to sophisticated questions would allow a client to leverage a clear understanding of their project goals.
This blog post will help you understand everything you need to know to estimate the cost of your mobile app.
Mobile App Development Market: An Overview
According to Statista, the global mobile app market revenue could reach USD 6,13433 million by 2025.
Google Play is one of the two most popular app distribution platforms. The platform’s app downloads have more than doubled, from 55 billion in 2016 to 111.3 billion in 2021.
Apple App Store remains the second-largest app distribution platform, with 2.22 million apps available.
Google manages Flutter, a cross-platform development framework. Flutter’s usage is steadily increasing, from 30% in 2019 to 39% in 2020 to 42% in 2021. In 2021, the platform was the most popular cross-platform mobile app development framework.
The global app development market is expanding across all regions and has witnessed a technological and market revolution.
Trends heavily influence app development costs in available development tools.
What Are The Cost Driving Factors For Mobile App Development?
In terms of functionality and technological implementation, one mobile app may be completely different from another, and different personalization requirements and technology stacks may exist.
Many critical factors can influence the structure of the outcome, from prototyping the application to testing it over an extensible testing framework.
The greater the scope of your app, the higher the development costs.
An app development project can have multiple cost contributors.
We already know every client’s two main questions before hiring an app development company.
“Which type of mobile app do you want to develop?” is the first question.
Let us make it easier for you.
You have two options for developing your mobile app: native app development or hybrid app development.
The client requests that the native app development methodology be used to create dedicated applications for various platforms.
What is a Native App?
Native applications are programs designed to run exclusively on a specific operating system. These are created with native technologies such as Java or Kotlin for Android applications and Swift or Objective-C for iOS applications. Native Android apps are built with Android Studio, while Native iOS apps are built with XCode.
A hybrid app is another type of application.
What is a Hybrid App?
Creating a Hybrid app can save money and time because it costs the same as creating a native app and runs on both iOS and Android platforms, which is not the case with the latter.
Hybrid app developers can create mobile applications with frameworks such as React Native, Flutter, Ionic, and others.
The niches are critical in defining what clients can expect and the deliverables provided by the mobile app development company.
Retail operations can take place both online and offline. As a result, developers may need to use tools that enable their apps to work in the retail space.
For a SaaS application, they may need to create an app that interacts with the project’s digital resources.
Because different industries have different parameters in their requirements, the cost varies greatly depending on the industry in which the app will function.
eCommerce (Cost: ~$60,000 – $300,000+)
According to a survey conducted by Bizrate Insights and eMarketer in the United States, 52.5 percent of respondents had the Amazon eCommerce app installed on their smartphones.
If you are inspired by Jeff Bezos’ story and want to build an eCommerce app like Amazon, you should consider the primary features the app provides.
You can hire an eCommerce development company to help visualize your eCommerce app vision.
Have an idea for a grocery app? Immediately estimate the cost using this grocery app cost calculator.
On-Demand (Cost: ~$70,000 – $100,000+)
One of the most promising digital services domains is the on-demand app marketplace. The customer base is rapidly growing.
According to Statista, the user base of food delivery apps has increased from 36.4 million users in 2019 to 45.6 million in 2020. By 2026, the taxi booking app market could reach 1,665.3 million users.
You can get a cost estimate for your app idea from an on-demand app development company.
FinTech (Cost: $50,000 to $300,000)
According to an E&Y survey, the United States has a 46 percent Fintech adoption rate. This survey found that 96 percent of respondents were aware of FinTech services, and seventy-five percent used at least one of a kind.
FinTech mobile apps are becoming increasingly popular in the app development market.
Potential business behemoths such as Google have also launched dedicated FinTech solutions.
You can consult a FinTech development company to validate your vision and create an effective roadmap for moving forward with your FinTech app idea.
EdTech (Cost: from ~$60,000)
The convergence of education and technology has resulted in the formation of the EdTech industry. The EdTech market is experiencing rapid revenue growth with predictable outcomes. The demand for personalized EdTech apps is causing the education industry to transform.
You can work with an EdTech development company to present your app vision and obtain specific results.
Healthcare (Cost: from ~$60,000)
With the introduction of useful and scalable mobile apps, digital healthcare solutions have emerged. These apps serve as a bridge between service providers and care seekers.
Healthcare organizations utilize technologies such as Blockchain to protect personal healthcare information and ensure service privacy.
A promising healthcare app development company can assist you in visualizing your path to a feature-rich healthcare app.
Online Dating (Cost: $20,000-$40,000)
The number of dating app users rose from 22.5 million in 2019 to 25.1 million in 2022, projected to 25.7 million in 2023.
Dating apps have grown in popularity as a way to connect with people who share similar interests. Virtual dating is becoming increasingly popular among young people.
Dating apps have seen a shift in technology demands, from personalization to customization.
You should learn more about hiring a service provider and the dating app development process if you are a business owner.
Do you have an idea for a dating app? Immediately estimate the cost with this dating app cost calculator.
SaaS (Cost: ~$50,000 – $500,000+)
SaaS has been the primary software development model for delivering services via the cloud. Leading companies have used the model to develop user-friendly and business-driven mobile applications.
In terms of customer acquisition and revenue, the SaaS market is booming.
Social Media (Cost: ~$60,000 – $300,000+)
Social media has evolved constantly, from Facebook to Instagram. What remains constant, however, is the never-ending rise in its expansion. Social media apps are becoming more personalized and technologically advanced.
Users can post video content to video streaming apps like Magisto.
Social media will play an important role in the next internet age, Web 3.0.
Business owners who want to invest in social media app development should consider the market’s upcoming trends.
The pillars of any app vision are features and functionalities. You can’t imagine your product or predict its market value unless you understand how it will benefit app users. Every application’s goal is to identify a problem and provide an excellent solution.
Personalization within an application focuses on the needs of the user. It is frequently the defining feature that distinguishes one application from its competitors in the same market.
Personalization has allowed mobile app developers to create user-focused and result-oriented applications, from smart music song suggestions to gamification in learning.
Personalization may necessitate app developers’ use of out-of-the-box technologies to create interactive features. As a result, personalization contributes to mobile app development costs.
The process of developing mobile apps has evolved significantly over the years. The app development market is more competitive than ever, and the technical infrastructure has changed as new technological trends emerge.
Developers may need extensive technical skills, from building a strong backend to designing an interactive user interface and implementing an advanced project management methodology to integrating third-party applications and APIs.
A smart and extensible technical architecture provides these technical capabilities.
How to Create a Cost-Efficient Mobile App?
Every app idea is unique regarding business objectives, personalization requirements, and economic scale.
So, how do you ensure that you are investing wisely and appropriately for the end product, which in this case, is a mobile app?
To create cost-effectively, you must ensure that development techniques are properly implemented.
Prove The Potential of Your App Idea
Ideas are at the heart of mobile apps. Regardless of how rapidly the app development market is expanding, you must ensure that your application has a Unique Selling Proposition (USP).
The USP will entice investors to consider investing in your concept. The more potential you demonstrate, the more exposure your app will receive. It will also assist you in having a clear vision while negotiating and planning the app’s financial roadmap.
Focus On The Demand-Specific Costs
Different applications have different target audiences. End users don’t care how much they spend on consultation, prototyping, or even using a more advanced technology stack. All they require are superior functionality and performance compared to other market alternatives.
You must understand which features to prioritize in your mobile app and which to avoid.
Keep Its Design Simple and Elegant
A lightweight user interface does not require regular maintenance or updates. It not only saves you time, but it also saves you money on app maintenance.
An interactive design also attracts more users to your mobile app, ensuring its user base and revenue success.
How Much Does It Cost to Make an App On an Hourly Basis?
An app development company will ask you to pay for app development services in two ways: fixed charges and time and material.
If you have a small-scale mobile app development project, you can opt for fixed charges, which means you will pay a set amount for a set period.
For a large-scale project, it is best to use the time & material model, which allows you to pay hourly.
The above-mentioned ranges are approximate and subject to change based on real-time project requirements. Individualized cost estimation frameworks used by app development companies may significantly vary app development costs.
How Much Does It Cost to Develop an App-Based On Features?
Using a mobile app development cost calculator may receive an estimate ranging from $20,000 to $300,000 or more, depending on the app requirements.
Every application’s features are its public face. For example, when most people hear the term Uber, they immediately envision booking a cab through a mobile app.
You could create a taxi booking app similar to Uber. However, you can create a clone of the app and expect to reach the same level of success as the leading ride-hailing app.
It is critical to conduct extensive and parameterized research before devoting resources to coding features and developing an app.
Your app employs a variety of features, from a user dashboard to payment integration, to provide users with the experience they seek through your product.
Let us now investigate various app features and their associated development costs.
Login is the entry point for a user into your application, and you cannot afford to lose the customer immediately. As a result, it is critical to consider including multiple login options in the interface, such as email, social media accounts, password resets and logging out.
A login interface can cost between $1100 and $1700 to create and set up.
If you are developing a mobile app that requires media sharing, consider including lightweight uploading options with features such as captions, video playback, and post preview.
Adding media-sharing functionality to your mobile app could cost you between $800 and $1000.
In your application, user profiles may include fields such as region, bio, occupation, profile picture, and customized media.
The app development company may charge between $900 and $1200 to create and deploy a user profile facility in your mobile app.
Your mobile app may contain various data that must be accessed based on various categories. The app’s extensive search options enable users to extract the most relevant results.
Designing and deploying an interaction search facility for your mobile application may cost between $500 and $700.
Direct messaging is used in various applications as both primary and secondary features.
This feature’s personalization depends entirely on your application’s end goals.
If you’re creating a dedicated application for direct messaging, you might want to keep it light and feature-rich.
A direct messaging tool may be required to facilitate basic communication in food delivery or taxi booking app. Mobile app developers can use third-party APIs to include a communication tool that supports your mobile app’s basic messaging needs.
Direct messaging in your app architecture may require an investment of $5000 to $7000.
Users can interactively receive messages or updates through in-app messaging or push notifications. Push notifications are displayed on top of the app interface.
This feature is extremely popular in the app development market because it is convenient for users and businesses looking to earn money through advertisements.
Push notifications in your mobile app can cost anywhere between $1000 and $1200.
A mobile app may require multiple user authorizations. For example, a taxi booking app is used by both passengers and drivers. The taxi booking app development company would create the same application but with a different user, driver, and app administrator interfaces.
Having dedicated panels within a mobile app can significantly affect your cost estimation. You may need to invest between $3600 and $5500 to create separate interfaces for your mobile application.
Several other features could significantly increase the cost of mobile app development. However, you may need to consult an app development company to understand your custom requirement better.
Mobile App Development Costs- Native vs. Hybrid
The development approach is critical in determining the costs of creating a mobile app.
Native apps are more efficient, but they take longer to develop.
Clients who do not have the funds or time to develop an app prefer to use a hybrid app development approach.
According to the Clutch app development survey, 75% of respondents (n=102) invested in iOS native app development, 61% in Android native app development, and 10% in hybrid mobile app development companies.
The cost of developing a native app can range from $1000 to $250,000, whereas the cost of developing a hybrid app can range from $5000 to $1,000,000.
How Much Does It Cost to Maintain an App?
Maintaining a mobile application entails resolving any real-time issues that users may encounter after the application has been released.
So, what services does an app maintenance company provide?
The following are possible primary app maintenance service offerings:
- Bug fixing
- Server compatibility checks
- Code optimization
- Stability and performance
- Post-release support
According to Clutch’s app development survey, 50 percent of the initial version, 25 percent of total app development costs in the second year after release, and 15-20 percent after that.
What Is the Cost to Build a Mobile App? – Total Estimation
The entire mobile app development process, from discovery, design, and development to testing and deployment, may take several weeks or even months.
The entire procedure can be broken down into six major steps.
- App Design
- Support & Maintenance
During the discovery process, the app development company assists clients in validating their app idea, visualizing the product through a prototype, and making other critical decisions, such as which technology stack or project management methodology to use. It could cost up to $5,000 to discover your mobile app vision.
Your mobile application will be designed by a team of UI/UX designers. You can talk about how many screens your app will have. The more screens there are, the more complex the app becomes and the higher the app development costs. You may need to spend between $5,000 and $12,000.
The cost of integrating required features into your app could range between $35,000 and $100,000.
The cost of testing the entire mobile application could range between $10,000 and $30,000.
Other professionals on the project, such as Solution Architects, DevOps, or Business Analysts, may cost you $10,000 to $50,000 to deploy.
Considering all of the information presented in the preceding sections, the total cost of developing a mobile app could range between $15,000 and $300,000.
The primary goal of this comprehensive guide was to provide readers with 360-degree app development cost insights, particularly business leaders looking to develop mobile apps.
We hope you enjoyed the read and now understand the cost estimation for your app idea better than ever before.
You can also consult with our app development experts to discuss your custom app requirements in greater detail.
If you have any feedback, suggestions, or points of view to share, please leave them in the comments section. Keep an eye out!