Why do we need to optimize the development of mobile apps in 2023? In data we trust — and according to a Statista survey, global revenue from mobile apps across most business segments will reach around 613 US billion dollars by 2025!
Source: Statista 2023
So how much does it cost to build a mobile app in 2023? This blog will try to answer this query in detail.
Setting the Ground Rules
The price of developing a mobile app can range anywhere from a few thousand to several hundred thousand dollars, depending on several factors. These are determined by some common factors that can impact the cost of building a mobile app:
- App complexity: App complexity is directly proportional to cost. Apps with features such as AI/AR or Machine Learning are more resource-intensive and cost extra time and money.
- App platform: Are you developing for iOS or Android? Developing for iOS is more expensive owing to Apple’s strict guidelines and licensing fees, while Android app development is comparatively less expensive.
- The app development team: The quality of your app development team will also determine the cost of your application. Offshore development teams are usually less expensive, provided they have the proper skills and expertise.
- App maintenance and ongoing costs: Mobile apps require regular post-launch support and ongoing expenses that can add up over time. However, these upgrades and maintenance are necessary to ensure a smooth-functioning, relevant, and updated app.
The factors and costs can be summarised in an equation as follows:
The variable costs will be deductions in case of discounts and additions in case of mishaps and project extensions. The target is to keep the variable costs to a minus or zero.
A Closer Look at the Factors Involved
This can range from basic to medium or highly complex. Let us break this down in the following table:
Developing for iOS generally costs more than Android app development. However, while iOS has a more loyal user base and a higher average revenue per user, Android has a more fragmented device market.
- iOS — $ 25,000 - $ 150,000, depending on app complexity
- Android — $ 20,000 - $100,000, depending on app complexity
The app development team
The cost of hiring an app development team varies depending on the team’s experience, location, and hourly rates. Offshore development teams are generally preferable, as they are less expensive but offer diverse skills and expertise.
Apart from the app development team, you will also require designers, testers, and project managers, which will further elevate the associated costs. The following is a country-wise guide on app development costs:
App maintenance and ongoing costs
The mobile app development project does not end with deployment. Post-launch updates, upgrades, and routine maintenance are also necessary to ensure a seamless user experience and an app that competes with market standards.
Regular maintenance generally costs between $ 5,000 to $ 15,000 annually or more. In comparison, major upgrades can cost between $ 20,000 to $ 100,000 or more, depending on the complexity of the application and the new features added.
Building an application is a long-term app commitment that is time and resource-intensive. If you want an application that is performant, efficient, and easy to maintain, it is crucial to keep scalability and flexibility in mind during development. A modular structure allows you to add new features and functionality to your app without rebuilding it from scratch. Therefore, it is essential to select a development team that has proven experience in creating dynamic, high-performance apps and is willing to provide ongoing support as needed.
At GeekyAnts, any project we take up is optimized for costs and maximum ROI for your business. We analyze the best tech stacks for the project requirement and then analyze how to execute the idea without having our clients break the bank.
Curious to explore how much your app development will cost with GeekyAnts? Schedule a call with us today: CLICK HERE.