The global market of mobile apps is showing no sign of cooling down, and the eternal question of how much does it cost to make an app becomes more than actual. Without knowing the detailed answer to this question, one cannot decide to pursue the idea to develop a mobile app.
The following article is a know-how guide to calculate app development cost as well as to clearly understand the factors that affect it and effective app development management tricks to avoid unplanned spendings in the future.
Why Investing In Mobile App Development
The Mobile app industry is evolving harshly, affected by technology advancements as well as consumer demands, and other major factors. It's a fact now that without mobile-optimized solutions businesses will lose a significant part of their clients and sink under the pressure of competitors. 3.5 billion Smartphones and 1.35 billion tablets worldwide force companies to think about mobile app development seriously. Studies show that over 90% of mobile time is spent on various apps by an average American mobile user, who used to check the smartphone every 12 minutes. According to App Annie, the user base of the mobile app market will reach 6.3 billion by 2021, leading to more spent hours and money, respectively 3.5 billion hours and $1,008 per user by 2021.
App Development Costs In 2020
In general, there are no fixed prices for mobile app development – costs vary extremely, from zero (when you are the developer) to millions of dollars, depending on many factors, such as developers' rates, app complexity, and the type of time it takes.
Skipping all the complicated details, an average mobile app development cost according to a Clutch survey is $171,450. According to an online app cost calculators, the range of app with dozens of features varies between $200,000 and $350,000: development companies' prices vary from $100,000 to $500,000, however, if the app is small, with few basic features, the cost will vary from $10,000 to $50,000, which is affordable for many businesses.
Outsourcing VS In-house App development
Before diving deep into app development cost calculation details, the business should decide whether to choose in-house or hire an outsourcing development team. Here are the pros and cons of each type:
Pros of an in-house team:
· proximity
· face-to-face meetings
· fast communication
· deep project involvement
Cons of an in-house team:
· lack of talent
· the need for huge initial investments
Pros of app development outsourcing:
· huge talent pool
· any level of expertise
· lower rates
· flexibility
· no need to huge initial investments
Cons of dev outsourcing:
· time zone differences
· lack of personal control
We hope that this know-how guide will help you to build an excellent product that will reach millions of users worldwide and create value in the mobile application market.
