Maulik Shah
Apps are now an integral part of our daily lives. Nearly 70% of our internet browsing is on mobile devices. Because apps are so important, businesses and entrepreneurs are investing heavily in app development. However, most don't know how to properly estimate the cost of app development. Here are the top methods to get an accurate app development estimate. Have another idea? Add it to the list!
Source: https://www.invonto.com/insights/how-much-does-it-cost-to-make-an-app/
An examination of the most popular apps will help you understand the cost of app development. For example, Uber is now worth a valuation of $60 billion, but when it was raising funding in 2010, it earned about $1.5 million. These earnings may not have all gone toward the development of the app, but it gives you perspective. Try to compare your app idea with apps that are already available. Do some research on sites like Crunchbase to find out how much has been invested in building the app MVP or minimum-viable-product.
The average mobile app will need 1200 – 1500 hours of effort. As work for the different stages is staggered, it takes on average 6 – 9 months to complete. Seek out different professionals and get quotes to compare. As an example, let's take the minimum amount of hours (1200 hours) and use that as we compare the average hourly rate from different app developers. We expand more on "How much it costs to make an app" on our latest blog post.
Average pricing:
1. Freelancer - $80/hour
2. App Agency - $125/hour
3. Consulting Firm - $225/hour
App Development Cost:
1. Freelancer - $96,000
2. App Agency - $150,000
3. Consulting Firm - $270,000
If you look online, you will find several app cost calculators that will ask you several questions related to your mobile app to give you a ballpark estimate. They aren't always super accurate, but will give you a good idea of what you can expect to invest. Try this app cost calculator from Invonto.
Invonto is a digital transformation partner for some of America’s most innovative companies including Transamerica, Comcast, D.R. Horton, Federal Reserve Bank, Sealed Air, Sharp, and Epicor. We wor...
