Mobile App Development Cost in 2024 – The Ultimate Guide

ESTIMATE OF MOBILE APP DEVELOPMENT COST IN 2024

6 mins Oct 03, 2024 Aman Balooni MOBILE Views : 4024
ESTIMATE OF MOBILE APP DEVELOPMENT COST IN 2022

According to Businessofapps, there are more than 2 app stores. In fact there are over 300 app stores worldwide today and still increasing. As of 30 Sep 2024, there are 2,241,642 apps on Google Play and 2,092,900 apps on the Apple App Store.

There is a phrase that "we have an app for everything". Many companies are now opting for custom mobile apps to offer various services like Uber for a Taxi, Tinder for a date, Google Maps for Navigation, Duolingo for learning, WhatsApp for chatting and many more.

  • Total revenue in the App market is projected to reach US$437.80bn in 2022.
  • Total revenue is expected to show an annual growth rate (CAGR 2022-2029) of 7.84%, resulting in a projected market volume of US$781.70bn by 2029.
App-market-revenue.png

But the big question is, how much does it cost to develop a mobile app? The answer is not fixed because it will depend on a lot of things like level of customization, UI/UX of App, Coding Complexity etc. So, the price will depend on your goals and requirements.

Let me give you a simple example, A movie for the same script can be made for $ 1million to $ 100 million, depending on the rate of actors, VFX costs, Marketing etc. This is same for an App you can build an app for $10,000 or $ 1million for the same idea. 

So, we have made an ultimate guide for you, so you can completely understand how much your app will cost. Let’s see 

Average Estimated Cost of App Development

While it's challenging to provide a precise figure, here are some general estimates for app development costs:
  • Basic Apps: Simple apps with limited features and functionality can range from $10,000 to $50,000.
  • Mid-Range Apps: Apps with moderate complexity, such as social media or e-commerce apps, can cost between $50,000 and $100,000.
  • Enterprise Apps: Complex apps with extensive features and integrations can cost upwards of $100,000.
Estimated App Development Cost according to type

Things you should know before app development

1. NATIVE VS HYBRID APP DEVELOPMENT 

An app which is designed to run only on a specific platform is called Native App while a hybrid App is designed to run on multiple operating systems. So, it is obvious Native App will cost you more than the Hybrid App, as you have to develop app separately for other platforms in native app development. 

But if you are looking to develop a quality and a high-performance app then go with native app development and if you have low budget then go with hybrid app development.

2. ANDROID VS IOS APP 

Android and iOS platforms are two of the biggest mobile operating system in the world. If you want to reach a large audience then your app must be developed for both the platforms.  

App Development costs breakdown

1. DISCOVERY AND RESEARCH 

Almost all software development starts from this phase where planning and blueprint of the project are developed. The delivery timeline and tentative budget are also determined in this phase. Final Project Concept, Project Infrastructure, Roadmap and Market/Competitor analysis. 

Average Cost: $5000 - $15000 

2. DESIGN (UI/UX) 

In this phase, we design UI/UX for the app. UI design will make the mobile app visually stunning and UX will take care of user experience. This is one of the most important phases of mobile app development where wireframe and protype of the app is designed and finalized. 

Average Cost - $8,000 - $15,000 

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3. DEVELOPMENT 

The development is phase is where all the functionalities and modules for the app is implemented. In the first phase the core development of the app is completed, then in the second stage all features are implemented and in the third stage the APIs are integrated.

Average Cost - $10,000 - $25000 

4. QA AND TESTING 

In this phase, all the codes, design and features are tested. First testing is done on various devices, second user interface testing is done, third functionalities are tested and finally app interaction with hardware is checked. Testing and QA will determine the quality and performance of your app.

Average Cost- $5000- $10,000 

5. LAUNCH AND MAINTENANCE 

This is the final phase of app development; your app will go live on different platforms. But after you have launched the app it needs to be updated regularly and new functionalities are incorporated from time to time.

Average Cost - $10,000 - $20,000 

Total cost for basic, medium and large apps

1. BASIC APP 

An app with fundamental functionalities and simple UI/UX design. 

Total Cost - $30,000 - $50,000 

Time – 3-5 Months 

2. MEDIUM APP 

An app with more custom features, complex structure and designed to cater to a large audience. 

Total Cost - $70,000 - $100,000 

Time- 5 –10 Months 

3. LARGE APP 

An Enterprise level app designed to run on multiple platforms and handle high volume   operations. Design and Development of this app requires a lot of time and highly skilled personals.

Total Cost - $150,000 + 

Time- 10 + Months 

Types of Mobile App

A) BASIC APPS 

This type of apps is designed to perform only basic operations. Most of the apps serve a single function. 

Example – Alarm, clock, calculator, weather type of apps 

Average App Cost - $10,000 

Timeline- 2-3 Months 

B) GAMING APPS 

This is the most popular app industry, gaming apps are designed with stunning UI/UX and designed to perform heavy operations. 

Example – Subway Surfer, PubG, Ludo King etc. 

Average App Cost – $ 50,000 - $250,000 

Timeline- 6-12 Months 

C) SOCIAL MEDIA APPS 

Social media apps are also one of the most popular types of apps, the common motive of these apps is to connect people and business on a common platform. 

Example – Facebook, Instagram, Snapchat etc. 

Average App Cost – $ 100,000 - $300,000 

Timeline- 9+ Months 

D) E-COMMERCE APPS 

e-Commerce Apps is a type has a lot of features like user registration, product listing, payment gateway etc. The infrastructure and design of this app is complex. 

Example – Amazon, Ebay, Flipkart etc. 

Average App Cost – $ 50,000 - $150,000 

Timeline- 6 –9 + Months 

E) EDUCATIONAL APPS 

Online learning is the future of education and educational apps are the need of the hour.  

Example – Duolingo, Photomath, TED etc. 

Average App Cost – $ 20,000 - $80,000 

Timeline- 6 + Months 

Hidden costs in App Development

App development requires many specifics and you will be surprised by knowing what are the hidden costs. So, before you decide your total budget for app development you must also consider app development. 

1. APP STORE FEES 

If you have developed an app then it must be placed in a platform like App store. So, you must have to pay a certain amount of fee to register your app on App store, Google Play store or Amazon App Store.

App store - $99
Google Play Store - $25
Amazon App Store – NIL 

Other extra charges are applied every year and also transaction fee. 

2. CLOUD DATA STORAGE 

There will extra charges if your app stores and process data like photos, videos, files etc. You will be surprised to know that Facebook pays $ 1.5 billion just to store data of users. So, you must be ready to pay hefty price if your app store big data. 

3. MAINTENANCE COST

After your app is launched, the maintenance is required to fix all the bugs, incorporate new functionality, update your app regularly etc. So, you must prepare to take out 20 % from your budget just for maintenance. If your buget is $50,000 then $10,0000 must be for maintenance. 

4. MARKETING COST

Your app will not be a success if you haven't planned a proper marketing strategy. You need to determine your target audience, demographics and platforms to run your ad campaigns. On an average $5000 is spend on marketing the app. 

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Summing It Up

So, you must have got an idea how much budget you need to develop your mobile app. We hope you found this guide helpful and please let us know how we can help you with app development.
 

Frequently Asked Questions

1. Is there a cost difference between developing for iOS vs. Android?
Yes, there can be a cost difference between developing for iOS and Android. iOS development is often perceived as slightly quicker due to fewer device variations, which could reduce testing and debugging time. On the other hand, Android development may take more time because of the need to support a wide range of devices with different screen sizes, operating system versions, and hardware configurations. As a result, developing for Android could be a bit more expensive in terms of development hours, though the gap is narrowing with modern tools.

2. How does the choice of app development team (in-house vs. outsourced) affect the cost?
The choice between in-house and outsourced development can greatly impact the overall cost of your app. An in-house team offers more control and closer collaboration, but it requires long-term financial commitments, such as salaries, benefits, office space, and software tools. This option tends to be more expensive, especially if you're hiring in countries with higher labor costs.

Outsourcing, on the other hand, allows you to select from a global talent pool, often offering more affordable rates, especially if you choose developers in regions with lower labor costs. However, outsourcing may involve additional communication challenges and time zone differences, which could affect timelines if not managed well. Many companies find outsourcing to be more cost-effective for short-term projects.

3. What are the ongoing maintenance costs for a mobile app?
Ongoing maintenance costs are a critical factor in your app budget. These expenses usually include fixing bugs, updating the app to remain compatible with the latest OS versions, adding new features, and ensuring security patches are in place. Maintenance costs are typically calculated as a percentage of the initial development cost and can range from 15% to 20% per year. Additionally, you may incur costs for server hosting, third-party services, and app store fees. Regular updates to ensure optimal performance and security are essential for keeping your app functional and competitive.

4. How much does it cost to develop a minimum viable product (MVP) in 2024?
The cost of developing an MVP varies depending on the app's complexity, design, and the number of features. Typically, MVP development focuses on core functionalities that solve a specific problem, with less emphasis on additional features or advanced design. For a simple app, the cost could start around $10,000, while more complex MVPs with multiple features or integrations may cost anywhere from $20,000 to $50,000. In 2024, advancements in development tools and frameworks might help streamline this process, slightly lowering costs.

5. What hidden costs should I consider when budgeting for app development?
Several hidden costs can arise during the mobile app development process. Some of these include:

Third-party service integrations (like payment gateways or push notifications), which often require subscription fees.
App store registration fees (e.g., Apple's $99/year fee or Google Play's one-time $25 fee).
Data storage and server costs to host and manage your app's data, which can grow as your user base expands.
Post-launch marketing to promote your app.
Security measures, especially if you're handling sensitive data.
Legal fees for intellectual property protection, privacy policies, and terms of service.
These costs should be factored into your budget early to avoid surprises later.

6. What is the timeline for mobile app development, and does it affect the cost?
The timeline for mobile app development depends on the app’s complexity, features, and the team size. A simple app could take 3 to 6 months to develop, while more complex apps might take 6 to 12 months or longer. The timeline can directly affect the cost, as longer projects require more development hours, increasing the total billable time. Rushed timelines may also lead to higher costs due to overtime or the need to hire additional resources. Planning realistic timelines helps control costs and ensures quality.

7. Are there differences in cost between custom-built apps and using app development platforms?
Yes, there are cost differences between custom-built apps and those developed using app development platforms (like no-code or low-code solutions). Custom-built apps offer complete flexibility and allow developers to create tailored features and functionalities, but they generally cost more due to the extensive development effort required.

On the other hand, app development platforms offer pre-built templates and modules that significantly speed up the process, lowering both development time and costs. Custom apps provide a higher degree of uniqueness and performance, while platform-based solutions can be ideal for startups or businesses looking for a faster, more affordable solution.