With more apps being released in both iOS and Android app stores, the mobile app economy is growing by leaps and bounds. We saw that more than a thousand apps were being added every day, so there is a lot of competition, but it also gives you a huge chance to grow your business.
Without the assistance of dedicated Android and iOS App Development Services, making a mobile app can be both fun and challenging. But to get into this lucrative app market, you must figure how much you can spend on mobile apps. Let’s look at some of the best ways to keep costs down when making a successful app for your business. This will assist you in scheming your budget better.
How to Estimate the Cost of Creating a Mobile App?
Many of you must know that the cost of making a mobile app depends on several things! But only a small number of you know the exact things that can affect growth and how to keep your budget from going overboard, especially if you own a new business. After doing considerable research and speaking to experts, we came up with a list of essential features that can affect how much it costs to make an app.
App Type and Size
The size and complexity of the app you want to build for your business are among the most important things to consider. Besides that, the cost may also depend on the type of business. For example, Real Estate App Development costs may need features like location, virtual 3D tours, etc., that you don’t need for some other apps. Adding them up will make the price go up.
Let’s look at some of the most common app types and how much it costs to make them on average.
- Basic App: Building essential apps like calculators, clocks, etc., doesn’t take much work and costs between $10,000 and $15,000.
- Data-based app: To make apps like calendars, maps, etc., you need to look at and share a lot of data. This could cost between $15,000 and $20,000
- App with User Authentication: To make a loyalty app, you need to make special offers for each user, which you can only get to with a login. The price is between $40,000 and $80,000.
- Social networking app: To make an app like Facebook, you need to be able to handle a million interactions, which means you need to spend more money.
- eCommerce App: If you want to make an app like Amazon, be ready to pay more for the eCommerce features. The price is about the same as for social networking apps, which range from $60k to $300k.
- Marketplace App: For apps like Booking.com, add features for both eCommerce and on-demand apps. This will cost you between $150,000 and $300,000.
- On-Demand Service App: If you want to work with end users and connect them to service providers, you’ll need on-demand apps that cost you between $80,000 and $150,000.
Developer Type & Location
When we talk about different developers, we mean small firms/freelancers, specialized companies, and significant development agencies. The first group is freelancers who can help you make reliable apps for the least amount of money but don’t have the skills to create complex solutions.
To hire someone who only does software development, you’ll have to go with a specialist company that charges a bit more. The last type is big agencies, which can help you make the best apps by using a team with a lot of experience and a good understanding of how to build them. However, they charge the most and take a less personalized approach.
Number of App’s Features
The number of features you want in your app is another thing that can add to the cost of making it since the complexity of each part affects the price. Simple app features might take 20 to 25 hours to complete, while more complex ones might take 150 to 250 hours.
The cost may increase if API integrations and advanced technologies like Machine Learning are used. Prices can also go up because of things like geolocation. Take the time to think about the essential parts of your app and only add them at the beginning.
Whether you build your app for iOS or Android, the development cost may change depending on your plan. With the help of cross-platform development, you can make an app that works on both platforms. Native apps are known for having a great user experience and working well overall, but they cost more to make.
If you choose cross-platform development, you can save a lot of money because you only have to write one set of code for both Android and iOS. With a native app, it’s easy to use built-in features, but with a cross-platform app, you need to add extra libraries to make functions work.
The complexity of UX/UI
Customer experience is key to getting people to notice a mobile app. Because there is a lot of competition in the market, you should choose a simple mobile solution that has easy-to-use features and is easy to navigate. If you want your app to succeed, take the time to make an excellent design.
Personalized UX/UI design includes icons, buttons, fonts, and other design elements that will add to the development of your app based on the level of personalization you choose. Make sure you hire a team of experts who can help you build an app with a good design and a good experience for users.
Maintenance After the Launch
The cost of making an app doesn’t end when it’s released; it keeps going up as long as it needs to be monitored and updated. Customers’ needs change over time, so you need to keep your app up to date by adding new features, fixing bugs, etc.
If you don’t keep your app up-to-date, your customers will lose interest in it because new apps on the market may offer better features than yours. The average price of maintaining an app can take up 15 to 20% of the total budget for making an app.
After reading the blog, you now know how to make a great mobile app for your organization on your planned budget. Even though there are a lot of things to think about when making a mobile app, hiring a reliable developer team will help you not feel too overwhelmed. The cost will vary depending on the app type, level of complexity, the features you choose, the industry vertical, etc.
Clavax is a trusted iOS and Android Application Development Company with a team of experts who can help your business by making a wide range of high-quality mobile apps at affordable prices. You can also use our intelligent app cost calculator to get a quick guesstimate in a few seconds. This will assist you in planning your budget better.