Mobile apps are making the world go round. According to a report by Statista, as of the first quarter of 2021, the App Store had roughly 2.22 million apps. On the other hand, Google Play Store had nearly 3.48 million apps available, which were downloaded 108 billion times in the same quarter. These numbers project the unprecedented growth and popularity of the mobile app market.
With such popularity of apps, entrepreneurs and business leaders are also keen on developing mobile applications for their organizations. By the end of 2025, global mobile app revenues are expected to increase to $613 billion.
However, when talking about investment in app development, the most common question that strikes our mind is – how much does it cost to make an app?
In a nutshell, the mobile app development cost can range somewhere from $25,000 to $200,000+. This is a rough estimate because custom mobile app development cost depends on several factors such as the app’s complexity, features and functionalities, and more. In this article, we will go through all the important factors one by one.
Examples of popular apps and their average cost
Below are the examples of a few popular apps that are redefining the customer experience and leading the app market. We have also mentioned the average cost of developing such apps.
Uber: Uber is a popular ride-sharing app that connects drivers and riders around the globe. Using the app, customers can request a car instantly or on schedule. Those requests are received by drivers nearby. The average cost of developing an app like Uber can range between $25,000 and $150,000.
Snapchat: With over 300 million daily active users, Snapchat has become a game-changer in the world of social media apps. This popular messaging app has been a pioneer in bringing augmented reality to its users through filters and interactive lenses. The app also allows you to share multimedia messages that will “self-destruct” in up to 10 seconds. The cost to build a Snapchat-like app can be somewhere around $45,000 to $60,000.
WhatsApp: It is an instant messaging app that allows users to exchange messages in real-time using the internet or wi-fi. It also enables users to make instant video/audio calls and capture and upload pictures or status. A cost to build a messaging app like WhatsApp would be in the range of $40,000 to $50,000.
TikTok: This video-sharing app has become inescapable and a major revolution in the entertainment world. TikTok allows users to lip-sync dialogues and re-enact their favorite scenes from different movies and music videos. The app also offers several filters and effects to enhance your videos and images. The average cost of developing an app like TikTok will be somewhere around $80,000 to $100,000.
Coursera: Coursera is an e-learning app that has gained amazing popularity among students and teachers due to the exceptional benefits it offers. The app offers a range of distance learning programs that include skill development courses to university degrees across the globe. The Coursera-like mobile app development cost by app development companies will come between $76,500 to $103,000.
Netflix: Netflix is the world’s leading media streaming platform. It allows users to stream shows and movies at their convenience. The average cost of developing an app like Netflix is around $25,000 to $140,000.
How is app development cost estimated- The formula
The formula or the answer to how much does it cost to create an app lies in calculating the number of hours it would take for every single one of the development process and multiplying it to the billable hours of resources.
How much does it cost to make an app?
As per a survey by Goodfirms, the average cost of developing a simple app is $3,800 – $91,000. A simple app comes with a set of basic user features such as a login system, user profile facility, dashboard and limited administration.
The cost of a medium complexity app is $55,000 – $131,000. A medium complexity app includes a plethora of features for user engagement and app monetization. Along with basic features, these apps include social media integrations, payment gateway, audio/video streaming, user privacy, etc.
One of the prominent examples of medium-scaled development can be Appinventiv building an innovative app for JobGet where job seekers and employers can message each other and schedule meetings in real-time. The app has helped to bring down the job search process from months to days for blue-collar workers. Till date, 150,000 jobseekers have been placed and the client has received $2.1 million funding for their innovative app idea.
A complex app could cost somewhere from $91,000 – $211,000. These apps are integrated with the latest technology such as AR/VR and AI. Such apps also include features like multi-language support, high-end data logic, and much more.
An example of a complex app project can be Appinventiv developing a core banking blockchain solution for Asian Bank to make crypto buying and selling easier for users. The app features support for wallet recharge and payments using cryptocurrencies like Bitcoin and Ethereum. The team’s primary objective was to widen the Asian Bank’s app horizon for the use of cryptocurrencies. The app has been downloaded 250k times and over 50k cryptocurrency transactions have been made.
While this was the basic app development budget estimate as per a survey, the actual development cost may, of course, vary based on what you want to accomplish through the application.
The accurate mobile application development cost estimation also relies on certain factors such as the size and type of the project. In the next section, we will discuss a few important factors that affect the overall mobile app development cost. So, let’s get started!
Factors that affect the cost of building an app
Mobile app development cost is dependent on several factors that are of significance. Understanding those factors will help you make the most cost-effective decisions and will give you the best return on your development. It will also help you stay within your budget.
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