How Much Does It Cost To Make an Awesome Mobile App in 2023?

 

The mobile app industry has been on an upward trajectory for several years, with no signs of slowing down. In fact, according to Statista, global mobile app revenues are expected to reach $935 billion by 2023. 

With this level of growth, it’s not surprising that more and more businesses are looking to develop their own web/mobile app. 

However, one of the biggest questions that businesses face is how much it will cost.

 

In this blog, we’ll explore the cost of making an awesome mobile app in 2023, including key factors that impact the cost and statistical data to help provide a clearer picture.

 

The Cost of App Development in 2023

 

According to a survey conducted by Clutch, a leading B2B ratings and reviews platform, the average cost of app development is between $37,913 and $171,450.

However, it’s important to note that this figure can vary widely depending on several factors. Let’s take a closer look at some of the key factors that can impact the cost of app development.

 

• App Complexity

 

The complexity of an app is one of the biggest factors that impact its development cost. Simply put, the more complex an app is, the more time and resources it will require to develop.

For instance, a simple social networking app might take only a few months to build, while a more complex app could take years.

According to an analysis by Savvy Apps, the cost of developing a basic app is around $25,000, while a more complex app could cost upwards of $250,000.

 

• Platform

 

The platform that an app is built for is another major factor that impacts development costs. Developing an app for both iOS and Android can significantly increase the cost of development. This is because the two platforms have different coding languages and require different design elements.

According to a survey by Clutch, the average cost of developing an iOS app is $38,000, while the average cost of developing an Android app is $43,150.

 

• Location of the Development Team

 

The location of the development team can also have a significant impact on the cost of app development. For instance, hiring a team of developers in the United States or Europe is likely to be much more expensive than hiring a team in India or Eastern Europe.

According to data from AppFutura, the average hourly rate for app development in the United States is $150-$200, while the average hourly rate in Eastern Europe is $30-$50.

 

• Design

 

The design of an app is another key factor that can impact development costs. An app with a simple and straightforward design will be less expensive to develop than an app with a more complex and intricate design. The cost of app design can range from a few thousand dollars for a simple design to hundreds of thousands of dollars for a more complex design.

 

• Features

 

The features of an app are another major factor that impacts development costs. A mobile app with basic functionality will be less expensive to develop than an app with advanced features such as social media integration or augmented reality. According to data from BuildFire, the average cost of building a social networking app is around $75,000. While the average cost of building an e-commerce app is around $120,000.

 

The Most Popular Global Apps and Their Development Cost

 

According to Statista, a leading provider of market and consumer data, the development costs for some of the most popular global apps are as follows:

 

Netflix – $15 million

According to a report by Business Insider, Netflix spent $15 million on developing its iOS app in 2018. This figure includes both the initial development and ongoing maintenance costs.

 

Snapchat – $3 million

In 2017, Snap Inc. (the parent company of Snapchat) disclosed in a regulatory filing that it had spent $3 million on developing the app in the first half of that year. However, it is important to note that this figure only includes direct costs such as salaries and benefits.

 

Facebook – $20 million

Facebook has not disclosed the exact development cost of its app. But according to a report by CNBC, the company spent $20 million on developing its Android app in 2013. This figure is likely to have increased significantly since then, given the constant updates and improvements that the app undergoes.

 

Instagram – $500,000

Instagram was acquired by Facebook in 2012 for $1 billion, but the exact development cost of the app is unknown. However, in a 2012 interview with Fast Company, Instagram’s co-founder Kevin Systrom revealed that the company had raised $500,000 in funding before launching the app. This figure likely includes the initial development costs.

 

WhatsApp – $2 million

According to a report by The Wall Street Journal, WhatsApp spent $2 million on developing its iOS app in 2013. This figure does not account for the development costs of the Android or other versions of the app.

 

Telegram – $500,000

Telegram was developed by two Russian brothers, Pavel and Nikolai Durov. Who reportedly spent $500,000 of their own money on developing the app. This figure includes both the initial development and ongoing maintenance costs.

 

Shopify – $100,000

According to a report by Shopify, the company spent $100,000 on developing its first version of the app in 2013. However, this figure does not account for the ongoing maintenance and updates that the app undergoes.

 

In conclusion:

 

The development costs of popular global apps vary significantly depending on factors such as company size, app complexity, and the platform. While some apps may require millions of dollars in development costs, others can be developed for a fraction of that amount. 

Lastly, one can not determine the success of an app just by its development cost. But by its ability to meet the needs of its users and provide a seamless user experience.

However, by understanding these factors and working with an experienced and reliable mobile app development team, businesses can create an app that meets their needs and fits within their budget.