Our prospective clients often start a conversation with this question: “how much does it cost the mobile app development”. Without knowing the answer, business owners can’t decide to pursue the idea of mobile app development.
This article originally published on Addevice.io/blog mobile development blog • You can read the full article here: How to calculate the cost of the mobile app development
We created this article to provide you with an in-depth overview of the global software development market state.
Let’s learn about the following points about app development cost calculation:
- reasons to invest in app development in 2022
- how app development cost is calculated today
- main cost drivers of mobile app development
- key approaches to identifying the cost to develop an app
- cost to make an app based on the development stages
Why invest in mobile application development in 2022?
With over 3.5 billion smartphones and 1.35 billion tablet users worldwide, there is no doubt why companies see mobile app development as a lucrative industry.
People use their smartphones every minute. In fact, average Americans check their phones every 12 minutes and over 10% of people check their smartphones every four minutes.
The total number of hours spent on mobile apps will reach 3.5 billion worldwide. Users will also start spending more money on apps. This number will reach $1,008 per user by 2021.
We are sure that app development is a very prospective industry for investment. With more and more users, there will be more opportunities for business growth.
Mobile application development cost in 2020
The median cost to develop an app ranges from $37,913 to $171,450. If we talk about complex and feature-rich applications, app development cost can reach up to $500,000 and even go beyond this number. (Clutch, 2015)
The minimum app creation cost varies between $5.000-$10,000. However, the development of a working app with a sufficient number of features will probably cost more.
When planning for development, the app development cost is not the only factor that you need to consider. Another important metric that might greatly influence your plans is the development timeline. On average, in over 80% of cases, it takes 3+ months to develop an application. Almost 40% of apps are developed in 6 months or longer.
So, let’s look deeper into the processes helping to calculate the cost of developing an app.
Check also: In-house and outsourcing mobile app development
How much app developers charge hourly based on a region
App maintenance cost
Knowing how much does it cost to build an app is not enough, as expenses don’t stop with app launch to the market. You need to understand ‘how much does it cost to maintain an app’ and be prepared to spend on app support.
Such costs can vary from $5,000 to $10,000 annually.
Another research shows that during the first year, 50% of the app development cost will be spent on maintenance. During the second year, you will have to spend around 25% and 15%-25% for each subsequent year.
App maintenance includes the following types of works:
- bug fixing and quality assurance
- stability and performance improvements
- code optimization
- upgrade to the latest OS versions
- implementation of new features
- support of the latest version of 3rd party services.
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App development cost calculation techniques
You can calculate how much it will cost to build an app by yourself. The formula for app development cost breakdown is simple: the number of hours multiplied by the hourly rate. The majority of companies provide a rough mobile app development cost estimate before the development stage begins so that you know how much money you will need.
Usually, app development companies use two main charging approaches:
- Fixed charge — this approach is mostly used for small projects that have a very strict timeline and predefined scope of work.
- Time and material — this pricing approach differs from the first one in terms of flexibility.
When working within time & material frame, you are free to change the scope of work, add features or remove some even in the middle of the development process. Thus, you can build a highly customized app that your users will love.
Be sure to find out by which pricing structure the company works before you sign an agreement, as it can greatly influence the final cost to develop an app and the whole development approach.
Want to know how much does it cost to create a custom mobile application?
Get in touch with our team for a free consultation and mobile application estimation. Contact us for free quotes and inquiries.
This article originally published on Addevice.io/blog mobile development blog • You can read the full article here: How to calculate the cost of the mobile app development
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