The mobile development expansion determines the popularity of apps and the overall cost of mobile app development. As per the latest report by Statista, the total number of apps available for download in app stores is over 176 billion (38 in the iOS App store and 138 in Google App Store).
2020 and the unprecedented times brought by the COVID-19 pandemic were terrible for all of us. No matter which industry or location, it affected everyone around the globe. These difficult times triggered many changes in the global market, and the first one was the mobile applications.
Mobile apps are one of the most incredible technological inventions of all time. It changed the way we work, shop, and communicate; mobile apps changed everything. Mobile app development is one of the fastest-growing industries due to its increasing popularity.
2021 alone saw an exceeding number of apps and net usage. This number will only grow in 2022 and the coming years. Hence many businesses are now opting for a mobile app and not just a corporate website.
Honestly, a precise cost estimate is only possible after detailing all the requirements. However, in this article, we will see how to get a general idea of a rough cost estimate and what factors affect the calculation of the total expense of a project.
Before we begin on the pricing part, as a client, you must have an idea of what your application will be? What will be the niche? Will it be shopping, healthcare, travelling, business enhancement, or anything else? This is a crucial step as it allows work down on the requirements and identifies the features on the app.
Most companies follow a pattern-
Price of mobile app = Development Time required (Hours)* + Hourly Rate
Now let us understand some predominant factors that influence the cost of building a mobile app:
1. Features & Complexity:
The worth of any mobile app relies on the features it contains and its performance. It is critical to know that as we add new features, the investment amount spikes too.
Some fundamental components in a mobile app are:
- User Login/User registration.
- Search bar.
- Push notifications.
- In-App Payments.
- Interactive home screen.
- User profile.
However, some domain-specific features are added as per the project or customer’s need are:
- Location Tracking.
- Live Video/Audio streaming.
- QR code.
- Live Chat support.
While many other standard and custom features can be added when building a mobile application, these are pretty necessary ones.
For a complete guide to mobile app development: Refer here
2. Size of the mobile app:
The size of a mobile app is a notable costing metric. As the number of screens increases, the cost of developing the overall app increases too.
3. Type of application:
Mobile app development has three types – Native, Hybrid, and PWA (Progressive Web Apps).
- Native mobile applications: The mobile apps are big and do weighty processing, provide the best user experience (UX), excellent optimization, and are swift. Native applications need a lot of development and support and have to be developed individually for iOS and Android. Hence, impact the cost consequently.
- Hybrid mobile applications: They are also known as cross-platform apps. Here a common platform for both Android and iOS are built. The overall development and maintenance of the application are low, and it works on all the platforms.
4. App release platform:
One of the critical steps in mobile app development is its release; Google (Android) Play Store or Apple (iOS) Store.
Both have different fee structures and require their own set of details before officially releasing the app.
5. Who will develop the mobile app?
Mobile app development is a massive investment, and hence one must choose the creator wisely; either you go ahead with a freelancer or opt for a company that knows how complicated the process gets.
- Freelancer: A freelancer can certainly build superior mobile apps similar to professional companies at a lesser cost. However, the only drawback of hiring freelancers is that there might be a requirement to look for designers, programmers, and testers individually.
- Hire a software development company: Not only does the mobile application development company have more skilful, full-time staff, but guarantees of a proper timeline, paperwork, and notes every detail essential to make your idea transform into a brilliant application.
When estimating the total budget of building a mobile app, every software development company has their methodology. While numerous factors define the overall cost of mobile app development, above mentioned ones are pretty standard.
Yashpal Singla, the CEO of Iotasol, is an IT professional with more than 16 years of broad experience in entrepreneurship in developing, exploring, helping, and shaping new businesses. He has been doing development for more than 19 years and understands technology thoroughly. Yash founded Iotasol in 2010 and works towards developing technology to enhance efficiency and growth in all aspects of the organization. Having happy customers, discussing and developing new ideas, add fruitful input is his passion