The mobile app development industry has grown significantly over the past decade, with more and more businesses recognizing the potential of mobile apps to increase their reach and engagement with customers.
Factors Affecting the Cost of Mobile App Development
Complexity of the App
The complexity of the app is one of the primary factors that affect the cost of mobile app development. Simple apps with basic features can be developed at a lower cost than complex apps with advanced features.
For example, a simple weather app with basic functionality can be developed for around $5,000 to $10,000, while a complex financial management app with advanced features can cost between $30,000 and $50,000.
Platforms Used
The platforms used in the development of the app also play a significant role in determining the cost. Developing an app for both iOS and Android platforms can be more expensive than developing an app for just one platform.
For example, the cost of developing an app for iOS alone can range from $10,000 to $25,000, while the cost of developing an app for both iOS and Android can range from $25,000 to $40,000.
Development Methodology
The development methodology used in the app also affects the cost. The traditional waterfall model, where the project is divided into distinct phases with a clear endpoint, is relatively cheaper than the agile methodology, which involves a more iterative and flexible approach to app development.
For example, the cost of developing an app using the waterfall model can range from $50,000 to $100,000, while the cost of developing an app using the agile methodology can range from $70,000 to $120,000.
Team Size and Skillset
The size and skillset of the development team also play a significant role in determining the cost of mobile app development. A small team with basic skills can develop an app at a lower cost than a large team with advanced skills.
For example, the cost of developing an app using a small team with basic skills can range from $10,000 to $25,000, while the cost of developing an app using a large team with advanced skills can range from $50,000 to $100,000.
Real-life Examples of Mobile App Development Costs
Uber
Uber is one of the most well-known examples of mobile app development costs. The cost of developing Uber’s initial MVP (minimum viable product) was estimated to be around $40,000. However, as the app grew and added more features, the cost of development increased significantly.
According to a report by TechCrunch, Uber raised $5 million in seed funding in 2010, which allowed the company to hire more developers and expand its platform. By 2014, Uber’s valuation had reached $6 billion, and the cost of developing an app for the platform was estimated to be around $500,000 to $1 million.
Instagram is another example of a mobile app that has undergone significant growth since its launch. The initial development cost of Instagram is not well-documented, but it’s believed to have been relatively low due to the small team size and basic functionality of the app.
However, as Instagram added more features, such as filters, stories, and shopping, the cost of development increased significantly.
