Over the past 3 years, mobile apps have become a center point in our daily lives. Consequently, the value of having a mobile app is extremely high for business looking to connect with their target market. Not all apps are created equal, however. With increased complexity comes a higher price tag. Knowing the general price brackets are extremely helpful as you figure out how you will allocate resources for the development of a new app.
Savvy Apps has gone ahead and gathered data from early-stage ventures and agencies on the costs for certain types of apps to be developed. If you are a startup or a larger business looking to outsource development, this resource is perfect for you to get a ballpark idea on industry figures.
Application development costs vary greatly in the marketplace. Savvy Apps has taken care to provide insights based on data rather than speculation. The costs provided in this analysis aren’t meant to be set in stone, they only provide a frame for what it costs to build a quality app with all the trimmings needed to scale effectively. It is entirely possible for other companies and developers to build apps for less.
Quality is Clear
There are many different ways to build an application and users have become much more sensitive to the performance and security of an app then they have been in the past. As the industry has matured agencies have built themselves upon years of expertise and foundation-code to achieve enterprise-grade functionality within their apps. Such efforts are recognized by their portfolios, awards, and other measures of quality.
Below is a TL;DR breakdown of the costs of different types of apps.
Cost by App Type
- Standalone app costs: Less than $50,000
- Data consumption app costs: $50,000 to $100,000
- Login app costs: $100,000 to $300,000
- Social networking app costs: $150,000 – $500,000
- Ecommerce app costs: $200,000 – $1,000,000
- On-demand app costs: $100,000 – $1,500,000
- Two-sided marketplace app costs: $200,000 – $1,500,000
- IoT / hardware app costs: $200,000 – $2,500,000
You can read the full article by Savvy Apps here.