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Know How Cost Evaluation for Mobile Apps Should be Done
Businesses these days are actively looking to build mobile applications to facilitate their customers. They know about the importance of these apps, as how they provide impetus to a business to stay competitive in the market. The development of a quality mobile app requires a decent amount of budget, which is what often becomes a serious talking point among stakeholders of the businesses. These charges are relatively higher than the development of a website, because mobile apps are slightly hard to develop. The agencies that offer mobile app development services often demand higher charges, which is why companies think twice before finalizing their budget for it.
As a business owner, if you are thinking to develop a mobile application, you should have some knowledge about the cost of overall development process. This knowledge helps you to bargain smartly with the development agencies. It lets you know about the current market standards, and which pricing quotation is right according to that. A lot of times, beginners get into the trap because of having no knowledge about the current market rates. They become easy target because of their little research and less understanding about this competitive market.
So, if you are planning to build a business app, it is best advised to complete your knowledge first. This is quite necessary because you cannot just not blindly hire any developer to work on your projects. You should have some background knowledge, so that negotiations can be done keeping the right objective in mind. This blog will precisely cover this topic in detail, so try to read it completely to understand the overall app budgeting concept.
Let us first start from the basics below understanding why project stakeholders should know about cost evaluation.
Importance of Project Cost Evaluation
Every project stakeholder is responsible to look into the budgeting of the project. Whether it is related to web or app development, he/she should have some knowledge about cost evaluation. This particular understanding offers a lot of benefits, especially in terms of making you vigilant. If you do not know how much does it cost to make an app, then you can get into anyone’s trap quite easily. Though, there are also some reputable agencies working in the market that offer correct quotations, but then there are some fraudsters as well.
This is one of the core reason why project stakeholders should be smart in evaluating overall app development budget. If they do not have any idea about it, then getting assistance from senior industry pros is highly recommended. It lets them know about their views, how they calculate budget and negotiate with the agencies according to the acceptable terms. This is a critical knowledge that not only helps in cost evaluation for mobile apps, but also for all types of projects that require a larger set of resources.
How Much Does It Cost To Make An App: Variance of Platforms
The cost of a mobile application depends a lot on the required platform. It is important because the processes of each operating system are different. Developers are required to use distinctive tools and technologies to work properly on different operating systems. They cannot just go with the similar methods to build applications for every other platform. Instead, they need to select different software development methodologies wisely to build quality mobile apps for different platforms.
Currently, we all know that there are two major OS platforms available in the market i.e. Android and iOS system. The development cost of mobile apps for both these platforms is different from one another. There are various reasons behind that which we will cover in any other article. For now, just make your concepts clear that the development cost does differ according to the variance of platforms.
Besides the above scenario, some mobile apps are also built to support both operating systems. They are called hybrid mobile applications. The quality of these apps is that they can run simultaneously on both operating systems. Nowadays, businesses prefer to develop hybrid apps, so that every person can use their applications accordingly. The cost of these apps also go a bit higher, as they are built for both platforms. Usually, their cost starts from $25000 which can go more up depending on the functionalities required.
How Much Does It Cost To Make An App: Difference of Regions
The cost of a mobile app also depends on the region where it is being developed. This is in fact the most important point that defines the total cost. Today, South Asia has become a power hub of software development services. The engineers from Pakistan, India and Dubai are offering quality app development services to the clients all over the world. Not just that, but they build applications at a much lower rate as compared to the engineers sitting in other countries. This is also the major reason why South Asia has also become a key hub for software outsourcing services.
Besides this region, you can also take high quality app development services from North American region. It is yet another a big place where you can find different freelance developers or software outsourcing partners as per the your needed requirements. The cost of development in this region is relatively quite high, but that also ensures you to get quality products all the time. Generally, the hourly rate in this region starts from $100. It can definitely increase depending on the level of experience and type of developer you are looking for the project. This rate is also negotiable, provided your demands are also reasonable for the dev teams.
Talking about European region, the cost of app development there is also high, but slightly cheaper than US and Canada. The rate in European countries starts from $50 and it can go up more if you are looking for experienced teams. As per the market reviews, you can find many skilled developers in Europe, provided you are targeting with the right project budget.
Examples of App Development Cost
To help you understand better about software development cost, we have listed below the estimated charges of some popular mobile applications. These apps relate from diverse categories, hence it will help you to know the development cost of each application precisely.
Let’s take a look at them in detail below.
Uber
Uber is one of the most used apps in the world right now. People from different countries love its services, as the app provides them a hassle-free way to book rides for daily commuting. This is certainly an advanced application that is hard to develop. Moreover, it works with a real-time location tracking system that is also quite advanced. To build this type of application, you would definitely need a good amount of budget ranging from $60,000 to $90,000.
According to the latest evaluation, the market cap of Uber currently is over $90 billion. This figure alone defines how big this organization is and how powerful it has become in the global circuit. Though, the app also has some competitors as well, but no one looks near to the bar of Uber due to its amazing services.
Tinder
Another mobile app that is hugely popular among the people is Tinder. It is especially loved by youngsters, because it is a complete dating app. People from around the world can connect with each other through this app. It is built with a unique matchmaking system that allows users to find preferred profiles. It falls in the social networking applications which definitely comes with a lot of cost. Generally, to cost of such apps starts from $40,000 which can easily scale up depending on the features required.
As of 2021, Tinder generated an overall revenue of more than $21 billion. This precisely describes how popular this app is and how much people use it from around the world. Therefore, these types of apps generally comes up with a lot of cost, and they also require a decent amount of time to get completed properly.
TikTok
The craze of TikTok has taken the world by storm. It is one of those apps that has set new trends in the market. Earlier, different types of video sharing apps were available on the web, but none of them had such unique qualities which the TikTok has. This is one of the major reason why TikTok is seen as a new trendsetter in the industry. It is certainly not that easy to build, which is why the development cost of this application is quite high.
Currently, TikTok has millions of registered users. This means that the database of apps like these is also quite huge, hence managing them with proper expertise also requires services from professional resources. This adds up more to the application cost, taking the overall budget of such apps to more than $100,000 easily.
Frequently Asked Questions (FAQs)
| How to calculate the cost of a mobile app development project? To calculate the cost of a mobile app project, you need to first look at the complexity of the application. Then, the project deadline will also play a key role in determining the project cost, and hence you will get to know about it. |
| What is the cost of social networking mobile app? The cost of a social networking mobile app like Twitter or LinkedIn is relatively quite high. The cost of these apps start from $100,000 and it can scale more depending on the additional features required in the application. |
| What is the cost of video sharing mobile application? The cost of video sharing mobile apps like TikTok, YouTube, Snapchat, and more others is quite high. These apps are built using advanced tools and technologies, hence they require greater set of expertise. Generally, the cost of these apps start from $80,000 which can increase dramatically depending on the functions required. |
| Why project stakeholders should know about cost evaluation? It is very important for project stakeholders to know about the cost evaluation. It helps them to negotiate properly with the agencies and finalize the best deals that fits right according to the market value. |
| What is the cost of a gaming mobile app? A gaming mobile app is one of the most costly projects you can find in the market. These apps require complete command on different advanced programming languages. Due to this, the cost of a gaming mobile app can range from $100,000 to $120,000 easily. |
Final Words
That takes us to the end of this blog in which we have precisely discussed how much does it cost to make an app. This is certainly an important topic that should be understood by every business administrator. It lets them know how much does it cost to make an app or what should be the ideal budget to build a quality mobile application. A lot of times, people are tricked into traps by paying more than market value for various mobile app projects. To avoid that, they should know about the correct value of a project, as well as which software outsourcing model fits best for it.
In this blog, we have defined plenty of things that will help you to know how much does it cost to make an app for your business. Meanwhile, if you are looking for an agency that can assist you to develop high quality mobile applications professionally, contact our team today.