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. The Average Cost of an iPhone Application Development
It’s no secret that the iphone application development market has exploded in the recent past with usage of apps having grown by over 76% in 2014 of downloads by consumers in the US alone of 8.8 iOS app every month. The introduction of Apple Pay gave it access to over 90% of US credit cards which would look totally insane. This is due to the fact that the app craze has spread like bush fire to all mobile platforms under the sun and for good reasons too. Having an app in this day and dawn works positively for a business whether the intended purpose is marketing with the aim of increasing revenues or pushing the branding.
Mobile applications have penetrated the day to day life of the population resulting in a multi-billion dollar industry that is the future and is here to stay. With this growth the question presented is whether entrepreneurs can achieve longstanding recognition as iPhone application development leaders.
Cost of an App
Different companies in the iPhone application development industry will charge differently depending on various factors that may be put into consideration, the complexity of an app notwithstanding. The average for most apps especially for a first version of a product has been put at $150,000 to build. This cost could go up to $500,000 depending on the client’s extensive requirements.
What Determines the MVP
An apps cost is dependent on the Minimum Viable Product (MVP) in requirements; MVP is context determined. This is explained by the use of an example; if an enterprise needs a social media play, tests are done on assumptions of how the audience may want to share content only and this could cost between $100,000 and $150,000 to completion. Whereas if the client is creating an app for e-commerce purposes then much more will be needed; integration of a payment system, databases to be used for example in email marketing, profiles and so on. This will mean more engineers being involved, creation of back-end systems etc which could skyrocket the price tag of the app in question. Thus MVP in an iPhone application development will be determined by the requirements of a client and not a standard set concept.
To determination of the prices of an iPhone application development is also fueled by the start up cost of a successful company. The amount of money that such a company raises to start up, which could range from around $250,000 to $500,000. Realistically the business would need to raise maybe another $500,000 or more which will empower them to take on any prototype and polish up an app for the consumer use. This implies the cost would average at around a million to a million and half.
Freelancers Cost
With high cost being an hindrance to entry, some iPhone application development companies may result to hiring freelancers. Hiring freelancers is not a concept that is appreciated by established companies though, due to the risks that are associated. These risks could range from inefficiency, lack of consistency, work ethics, and miscommunication leading to an end product that is not essentially the intended. A freelancers cost on the other hand would be relatively less than what is presented by established companies.