How Much Does It Cost To Make an App in 2021: Full Cost Breakdown
The number of smartphone usage in 2020 stood at 6.95 billion globally, and this number is likely to reach 7.1 billion by 2021! With the rise in mobile phone usage, there is an app for almost everything. From online banking to ordering food, you can download apps and have access to all kinds of products and services at your fingertips.
If your business does not have an app, then it's time you considered getting one. Why? Because you might be missing out on new opportunities and a lot of potential customers. The first question that business owners ask when planning on developing an app is: "How much will it cost to make an app?" The cost of application development depends upon a lot of factors, and the type of app you want to develop.
App Development Process
Before getting to know about the cost related to the app development, you need to know about the process and how it may affect the overall budget. Here is a brief overview of the app development process:
1. App Requirement
The first step in the pre-development phase is to understand the app requirements. You need to understand your brand, app requirements, target audience, and goals. This step is essential to help you move forward with the application development.
2. Choosing a Platform
After outlining the project and app requirement, the next step is to choose a platform. You need to decide whether you want to create an Android app or an iOS, or both. When choosing the right platform for your app, make sure to consider the market share of different platforms, software fragmentation, etc.
3. App Design
App design is the most extensive part of the app development process. Here are some of its basic stages:
• Visual
The most important aspect of a successful application is its visual appeal. The visual design process should ensure an app design that is pleasant to look at. Visuals are the most important element of an app design. Raj Aggarwal of Localytics stresses the importance of rich and interactive experiences, which can only be made possible through HD visuals.
• UX/ UI
The next step in the designing process is user experience. When it comes to successful applications, user experience is everything. It's about how an app is designed to use data and performance. If your app has high user engagement, the chances of success are higher. Some of its essential features include:
- Loading speed
- Design elements (colors, icons, buttons, symbols)
- Layout
- User-centric
• Branding
If you are planning on creating an app for your business, you need to ensure consistent branding across all platforms. According to Steve Forbes, Chairman and Editor-in-Chief of Forbes Media, "Your brand is the single most important investment you can make in your business." Therefore, you need to create branding, including icon and logo that is not only appealing but also helps you create a unique brand identity.
4. App Development and Testing
After mapping out all the details of the project, developers start developing your application. After successful development, the app goes through QA tests to ensure a flawless design and functionality. The development cost depends upon your team of developers and their capabilities.
Cost Breakdown
Now you know the details of app development. Let's look at the numbers. According to GoodFirms, the average cost of a simple app is around $40,000 - $60,000. A complex app, on the other hand, costs somewhere between $70,000 - $100,000.
A simple formula for calculating the development costs of an application is as follows:
Total Time For Development x Hourly Rate = Total Cost
The following table shows approximate development costs for different types of mobile applications.
App Type Development Cost Examples
Basic App ~ $20,000 Clock, Calculator
Data-driven App ~ $20,000 Stocks, Weather
Social networking App ~ $50,000 - $200,000 Facebook, Instagram
E-commerce App ~ $60,000 - $200,000 Aliexpress, Amazon,eBay
Marketplace App ~ $200,000 TripAdvisor, Yelp
The cost of development also depends on your team composition. When you are planning to create an app for your business, you can either have local development with your team or outsource. Outsourcing your application development is less troublesome and less expensive.
By acquiring mobile app development services, you can have access to professionals with a high level of expertise at lower costs, as compared to the local ones. It also comes with a lot of flexibility and is less time-consuming.
Factors Affecting Cost of Application Development
If you are thinking about developing your application, you need to consider different factors that may affect the development costs of your application. When it comes to app development, there is no fixed rate, as the cost depends on various factors. Some of the most significant factors affecting the cost of application development include the following:
1. Features
The first important criteria that have a significant impact on the overall development costs of the application are its features and functionality. There is a wide range of features available that you can incorporate into your application.
These requirements entirely depend upon the purpose and type of your application.
Your application may require high functionality, including social media platforms integration, GPS tracking, etc. If you want your application to be feature-rich, then the development costs are more likely to be higher.
2. Customization
Creating a unique visual design and UI is a must for a successful application. However, this level of customization can significantly affect your development budget. You can build your app using standard screen elements at a lower cost, or you can create a unique design and aesthetically appealing visuals to attract users at a much higher cost.
The level of customization you are offering to the user has a significant impact on your app development costs.
3. Platform
Another important factor affecting the development costs of the application is the choice of the platform. There are multiple devices that can serve as a platform for your app. For example, you can create an app for traditional smartphones (Android, iOS, Windows), IoT platforms (Smart cars, TVs, etc.), AI, and VR applications.
All these platforms have different requirements in terms of development costs and timeframe. Similarly, you can also opt for a hybrid application or a native one depending upon your app type.
4. Data Security
Data security plays an important role in ensuring a successful app development. You cannot launch your application in the market without efficient data security to make sure your customer's personal data and information are secure. Therefore, it is essential to make sure the user data like passwords and addresses are secured with encryption.
If you fail at implementing data security into your app, it may result in malware, a security gap, or a system attack, thus increasing your cost. Therefore, it is highly essential to have data security implemented in your app in the first place.
5. Location
Development costs of your application are also dependent upon the number and location of markets that you are planning to launch your app in. For example, if your application will be launched globally, then you may need to consider additional requirements like language, app store requirements, and licenses.
If you are launching your application worldwide, then it is recommended to have a modular model for integrating multiple languages. This is called the internationalization of apps. It may increase the overall cost of app development, but you can launch your app globally.
Ready to Develop Your Desired App?
This is all you need to know about app development costs and how it is influenced by different factors. An excellently designed mobile app with high visual appeal and functionality is the key to a successful business start-up.
An expensive app doesn't necessarily represent a "good" app. However, a smart investment in your app development project will end up delivering excellent results in the long run and will prove to have a greater ROI.
