Are you running a business but haven’t developed a business app yet? You’re likely missing out on significant growth opportunities. According to a study by BusinessofApps, the Google Play Store boasts 3.3 million Android apps, while the Apple App Store is home to around 2.2 million apps. This staggering number highlights the immense potential of mobile apps. Moreover, a report from Grand View Research estimates that mobile app market revenue across various segments will reach approximately $567.19 billion by 2030.
With such overwhelming popularity, it’s clear why digital businesses are investing heavily in mobile app development to accelerate growth. However, when it comes to developing an app for your business, numerous questions arise. Business owners often seek detailed insights into various aspects, including app development costs, monetization models, the development process, and strategies to save money on app development.
Average Mobile App Development Cost Estimate
In short, the cost to develop a mobile app can range from $25,000 to $150,000, and it can exceed $300,000 for highly customized, complex apps. Several factors influence the cost of custom mobile app development, including the app’s complexity, features and functionalities, development approach, and more.
We provide an in-depth analysis of all the key factors affecting mobile app development costs. Understanding these factors will help you estimate how much it will cost to build an app using a standard calculation formula. The answer to how much it costs to create an app involves calculating the total number of hours required for each development process and multiplying it by the billable hours of the resources involved.
Popular Apps and Their Development Costs
Here, we will explain using a few popular apps that have redefined customer experience and are leading players in the mobile app industry. Let us examine detailed information about these apps to understand how the cost of mobile app development varies based on functionality, complexity, and design requirements for different types of apps.
Uber: As we all know, Uber has become one of the most popular ride-sharing apps, connecting drivers and riders globally. The average cost of developing an app like Uber typically ranges from $30,000 to $100,000.
Snapchat: Snapchat has achieved a top position in the world of social media apps with over 300 million daily active users. The cost of building an app similar to Snapchat can range from $45,000 to $100,000 for a single platform.
WhatsApp: WhatsApp is a leading instant messaging app that enables users to exchange messages, make instant video and audio calls, and upload photos and videos. The average cost to build a messaging app similar to WhatsApp ranges from $30,000 to $70,000.
TikTok: This is one of the most influential video-sharing apps that has revolutionized the entertainment industry. If we talk about the average cost of developing an app like TikTok then it can ranges from $60,000 to $100,000 for a single platform, and up to $150,000 for hybrid development.
Coursera: Coursera is an e-learning app that offers a wide range of distance learning programs, from skill development courses to university degrees, available worldwide. The average cost of developing an app like Coursera ranges from $60,000 to $120,000.
Netflix: Netflix is one of the world’s leading media streaming platforms. The average cost of developing an app like Netflix is around $25,000 to $200,000.
Factors That Impact Your Mobile App Development Cost
Mobile App Complexity
Simple App: Developing a simple app typically costs around $5,000 – $50,000. These apps include basic user features such as a login system, user profile facility, dashboard, and limited administration.
Complex App: A complex app can cost from $100,000 to $300,000 and beyond. These apps incorporate advanced technologies such as AR/VR, AI, and machine learning. They also feature multi-language support, high-end data logic, and other sophisticated functionalities.
Here’s An Average App Development Cost Breakdown Based On Its Complexity:
App Features and Functionalities
The cost of mobile app development greatly depends on the features and functionalities you integrate into your application. The base mobile app development price increases with the addition of new features. It’s advisable to concentrate only on the core features in the initial version of the app to offer a great customer experience at affordable costs. Developing a Minimum Viable Product (MVP) can be a good approach.
App Category
The cost of app development varies greatly from category to category. Factors such as the number of users, functionalities, and security criteria can lead to varying costs to develop an app.
- E-commerce/M-Commerce Apps: $50,000 – $150,000
- Social Networking Apps: $30,000 – $100,000
- On-demand Apps: $50,000 – $200,000
- Hardware-dependent Apps: $60,000 – $300,000+
App Design & Animation
- Ensuring that your users invest their time in your app calls for specific focus on app design. Custom UI design is more expensive than Standard UI design.
- Standard UI: $5,000 – $30,000
- Custom UI: $25,000 – $100,000
- Wireframing: $1,000 – $5,000
- Animation: $10,000 – $50,000
App Platform
- Choosing the right platform is crucial. Depending on your target audience, you can choose to build an iOS, Android, web app, or cross-platform application.
- Native app platform (Android & iOS): Costs vary depending on the platform.
- Web App Platform: $15,000 – $50,000
- Cross-Platform: Typically more cost-efficient than developing separate native apps.
- Hybrid App Platform: Balances native app performance and web app flexibility.
App Maintenance Costs
- App Bug Fixes: Ongoing maintenance and bug fixing are essential.
- Design Changes: Keeping the app’s design fresh is crucial.
- Ongoing Maintenance Costs: Typically about 20% of the initial development cost per year.
- Code Reuse: Reusing existing code can lower costs by 20-30%.
Development Team Size and Location
- Team Composition: Costs depend on whether you choose an app development company, local team, in-house developers, or freelance developers.
- Geographical Location: Development costs vary based on the location of the development team.
Hidden Costs in Mobile App Development
- Quality Assurance:Â Quality Assurance (QA) is a critical process that ensures the app meets defined standards of quality before it is released.
- Infrastructure Costs:Â Infrastructure costs refer to the expenses associated with the underlying technology required to support the app’s operations.
- IT Support Costs:Â IT support costs encompass the expenses related to maintaining and troubleshooting the app and its associated systems.Â
- App Publishing Costs: Includes fees for app stores and developer programs.
- App Security: Essential to protect user data and maintain trust.
Standard App Development Process
- Research the Target Market
- Choose the Right Platform
- Hire an App Development Company
- Build MVP
- Test Your App
- Submit App to Stores
- Launch and Track Performance
App Development Cost by Stages
- Planning and Research: $5,000 – $10,000
- Design: $10,000 – $30,000
- Development: $30,000 – $150,000
- Testing: $5,000 – $20,000
- Deployment and Launch: $5,000 – $10,000
- Maintenance (annual): 15% – 20% of initial development cost
Monetization Strategies
- Advertising
- Freemium
- Subscription
- Sponsorship
Reducing Mobile App Development Costs
- Prioritize Features
- Involve Quality Assurance Early
- Plan for Future Changes
- In-house vs. Outsourcing
- Consider Cross-Platform Development