It's 2021, and there is barely any business that is envisaging success without owning an app. Whether you are a budding start-up or a big fat enterprise, an app is the most practical way to gain better market penetration and customer engagement.

But, what are the expenses involved in owning this potential tool? This is first the question that pops us in our minds when we think of obtaining a mobile app as everything comes with a price tag.

While the general answer would be “it depends”, we will give a detailed overview of this topic. Just stay tuned with us.

Mobile App - A Tool Driving Success at Every Front

If the recent report of Statista is to be believed, there were 204 billion mobile app downloads last year. More than 300 apps are added to App Store and Google Play every day. Seeing the surging number of mobile apps, we can easily conclude that there is a slow-down in mobile app usage.

From a business point of view, mobile apps have become an imperative tool for better accessibility and impactful engagement. Nearly 42% of small businesses have a dedicated business app.

With this tool, it is easy to stay in customers' minds. Mobile apps are always only a tap away. They can be downloaded in a blink of an eye and bring the business to customers’ disposal. It allows customers to have an easy contact point.

Now that we know the worth of a mobile app, it’s time to talk about the money part.

The Cost of App Development in 2021

If we look into the app development process ten years back, it was tedious, mediocre, and pocket-heavy. By the time we entered 2021, it had become swift and advanced. However, the cost depends on multiple factors and varies a lot. So, to find out the actual expense, we need to pay attention to tons of things.

We will discuss all of them, and it is going to be a long read.

For those having a general idea that is crucial, we can say that app development will be $50,000 to $250,000 pocket-heavy. Quite a wide gap, right? This is because apps are of various types and suffice multiple pursues.

The general rule to find out the cost of mobile app development is:

Cost = Development time* Hourly rate

Now, the hourly cost is something that varies globally. An Australian hacker can charge $35-150 per hour, while the same job will cost $25 up to $50 per hour if you develop a mobile app in Eastern Europe.

But, this is just an overview. The ideal way to figure out the cost of mobile app development is to contact a mobile app development agency , put forward your requirements, and get an estimate.

Now, the estimation depends on various factors. The most governing factors are the type of mobile apps, features included, and project complexity. Let’s understand those factors and many others in detail to find out the expenditures of mobile app development:

The Type

One of the most cost-deciding factors is the type of app you want to own. Generally, there are three types of apps: web app, native app, and cross-platform app.

Let’s gain a deeper insight into these app types:

Web App

A mobile version of a website, a web app follows the principle of mobile-friendliness and comes with a straightforward interface compatible with tablets and smartphones.

As these apps come with limited features and are low in performance, their cost is significantly less and affordable.

That being said, they are the most-preferred app types amongst smartphone users. 85% of smartphone users use web apps.

Native App

These apps are dedicated to a particular OS type and are built using native languages. For instance, an Android native app is built with Jave or Kotlin. The use of a specific language makes native apps a complex project to complete. Hence, the cost involved is high. However, such apps are famed to deliver high performance.

Hybrid/Cross-Platform App

A combination of native and web apps , hybrid or cross-platform apps target a large audience group. Its cost is higher than a web app and less than a native app. However, they are the least accessible app types.

Targeted Platform

For which platform you are trying to build an app is also a major cost deciding factor. Ideally, one must own apps for both iOS and Android platforms. But, this is going to be a super costly affair. Not every business can bear the cost of building apps dedicated to both platforms.

iOS apps are easy to build and take less time because of less fragmentation. On the other hand, building an Android app takes 30-40% more time. This point indicates that iOS apps are cost-effective.

Features Required

Features are what make an app impressive and functional. The types and number of features that one wants to include in an app affect the overall app development process.

Some features are simple, and some are complex to include. For instance, adding up the login feature will take nearly 28-42 hours to develop. The average cost will be somewhere near $1,120-$1,680.

Messaging - yet another crucial feature - is very tedious to add to an app. It translates to nearly 160-170 hours to incorporate. If you want to include this feature in your app, then spend $6,400-$6,800. So, as you increase the number of features, the app-building cost also swells-up.

Development Model

You can develop applications in multiple ways. You can hire a dedicated mobile app development agency or can hire a freelancer. The cost involved is different in each case.

Hiring an agency is, of course, more pocket-pinching. The more professional would be the company, the higher the cost would be. The average price in this option is $30,000–$700,000. Freelancers can charge anywhere between $60-80 per hour.

Publishing Time

Though it is a trivial factor, you can’t ignore the publishing cost because it comes with a price tag.

Google Play charges a one-time fee of $25 to upload the app.

Apple Play Store adheres to a strict publishing process. For this, it charges a $99 annual fee. Seeing this aspect, we can conclude that Android app development will be cost-effective.

The Maintenance Aspects

Who says expenses end with the development process? It goes beyond that; apps need to be well maintained. You need to properly fix some bugs, combat virtual world threats, and reduce performance issues.

Also, one has to include new updates and offer a compatible app version for new OS versions. If one hasn’t paid attention to these issues, owning an app is like owning trash. Users will end-up uninstalling apps in no time.

Now is when regular app maintenance comes into play. Maintenance is an essential expense. The ideal practice is to allocate 15-20% of the app development budget towards app maintenance. However, this cost varies as per the budget of the individual. It is a continual process that shouldn’t be overlooked.

Final Thoughts

App development is a pivotal job that needs perfection at every step. Its cost is dependent on assorted factors such as type of app, compatible platform, etc. While you are ready to own a business app, don’t forget to pay attention to all these aspects. Take a note that cost is a highly variable factor and depends on individual needs.

Speaking of cost, we have a very cost-effective model when it comes to hire mobile app developers. You can hire React Native developer/hire flutter/native developers from us on hourly/monthly basis based on your project requirements. If you think you need more details on this, you can connect with our expert on Skype- Bacancy or send an email on solutions@bacancy.com.