How Much Does it Cost to Make an App in 2020?
May 25, 2020How Much Does it Cost to Make an App in 2020?
If you have already searched for information about app development, the key question you probably want an answer to is “how much does it cost to make an app?”
To mention upfront, the cost to create an app is very hard to estimate and the sum can vary from $15,000 to $240,000+ for one platform. Note, that a minimum budget to build an app is around $10,000 for a very basic project. In most cases, this price will increase on average up to $50,000 for the first, simple app version.
Such a big discrepancy in app development price is due to the factors like app type, number and complexity of features, design uniqueness, location and rates of IT vendor you choose, expenses on marketing, QA, and so on.
Studies of Clutch and Outsystems confirm this wide range of potential project cost from $5,000 to $500,000+ and a timeline of 1 to 9+ months. Goodfirm’s research indicates that the cost to make an app of a complex functionality is around $70,000 – $100,000 and the app with minimum feature-set – $40,000 to $60,000.
This guide is intended to give you a detailed explanation of everything that makes up the cost of creating an app and a few up-to-date app price options you can choose among.
Let’s not waste any more time and get right into the subject.
Factors That Determine App Development Cost
As mentioned, there is no precise answer to the question “how much does it cost to develop an app?” because the price depends on factors, namely:
Project type (social, on-demand delivery, e-commerce, healthcare, etc.)
Type of vendor you choose (freelancers, IT agency)
Vendor’s location (country)
Vendor’s rate
Number and complexity of features
Number of platforms (iOS, Android, web)
Design complexity (basic, custom, use of animations)
This list requires some explanations, doesn’t it? Further on, you will find details on each point.
Freelancers vs. App Development Agency
The two main types of vendors that can create an app for you are freelancers and agencies.
If you decide to work with freelancers to build an app, you will receive the following advantages:
Cheap app development
Constant communication with the developer only
At the same time, weigh the risks:
The need to find freelancers for all required services
Lower quality of services
Limited accountability and transparency
Team management on your side
Additional paperwork
On the contrast, professional app development requires teamwork and people who are used to work on the same project.
If your choice is to work with an app development company, you will enjoy the following benefits:
Trustworthy relations
Quality of deliverables
All or the majority of needed services in one place
Schedule and discipline
Project management
Accountability
Disadvantages of working with companies that make apps:
Higher rates
More bureaucracy
In spite of having to spend more money and deal with more paperwork, app development companies usually give a sense of security and confidence that is worth the cost.