With escalated demand and hype in the digital era, mobile apps have become a must-have thing for businesses and enterprises. It is a huge investment and cannot be made without proper research and planning. Do you know, that there were almost 247 billion app downloads in 2020? According to the reports of Statista, the number of app downloads is expected to be 299 billion by the end of 2023.

This clearly shows people have turned to digital platforms massively. Even though it is a costly affair but an investment that is going to give massive returns. Get a basic idea of what your project is going to cost you based on some of the common factors.

Factors Affecting Cost of Developing A Mobile App

1. Choice of Platform

The cost of developing an app is affected by the platform chosen. If you opt for the native platform, two different apps will be developed for Android and iOS. It will cost more but the app’s performance will be the best and maintenance will be easy. If you pick cross-platform for app development, the cost of development will be less. In the case of hybrid development, a single code can be used for multiple platforms, and hence the price will be low. React Native, Ionic, and Flutter are popular for developing cross-platform apps.

2. Features and Functionalities of the App

The number of features and functionality of the mobile application is one of the most important factors determining the cost of development. If the features are limited and simple, the budget of the app will be less. On a contrary, with limited features or probably an MVP, the app will be developed on a limited budget. For startups, MVP is the best possible option to create an amazing app.

3. The complexity of the App

If the app has a complex mechanism, it would be difficult for the developers to build it. It will also take more time and hence escalating the overall cost. If the app is simple with regular features, the cost of development will be standard and affordable.

4. Mobile App Development Company You Choose

A mobile app development agency with experience with ample experience will have a high budget compared to newbies and startups yet to gain industry knowledge and real-time development experience. There is also an option of hiring dedicated mobile app developers to work solely on your project. Based on the type of your project and its requirement, you can hire a development partner. You can also look for a hiring service provider showcasing the best resources that you require which are reliable and monetarily beneficial.

5. App Maintenance

Developing an app is not enough. It is equally important to maintain the developed app as well. The cost of the project also includes support and maintenance charges. After the app is live in the Google Play Store and Apple app store, there are several tasks like bug fixing, changes in the app as per user’s feedback, managing app crash, and also releasing new features as updates. All these elements also affect the budget for development.

6. Business Model, You Pick

Companies offer different hiring models to clients. The overall cost of the app development is determined by the model picked by you. There is a fixed cost model where features and cost is decided beforehand and remains fixed. This is perfect for small projects. There is an hourly-based model and a hire-dedicated model as well. Here the price per hour is decided and the number of hours to work on the project is decided by the clients.

Conclusion

So, you know all the important factors that can affect the cost of developing your app. Make sure to evaluate them and make a smart and calculated decision before you dive into the final development. Do you have any question ?