The application development process takes a great deal of hard work, dedication, time and mental strength. For any app entrepreneur, it is not an easy task to develop an application. Thus, it is important for any app developer to know as to what is the budget of his app. You can ponder on the following simple points to know the monetary value that your app creation might incur.
- General Costs: There was a research conducted by the “Forrester Research” which looked into the intricacies of the budget of a particular type of application development. It worked on studying the cost-features in developing an iPhone application. It was estimated that for this, an approximate time of at least six months needs to be devoted and a cost of at least $20,000 is incurred. Although, these are comparatively old statistics of 2009. In the year 2010, it was noticed that for a very simple app, the designing process takes about a week and a cost of $6,000. Similarly, the research yielded that a complex application like a game can easily go over the range of $200,000.
- The Levels: Generally, there are 3 levels of complexity when we talk about the apps for the Apple iOS market. First, a “Simple Enterprise iPad Application” can cost up to $50,000 for the application entrepreneur. Second, a “Medium Enterprise iPad Application” is expected to drain nearly $100,000 from the pockets of the developer. Third and last, a “Complex Enterprise iPad Application” can be budgeted as high as $150,000 or more. Similarly, a simple Android application may incur up to $37000, a medium app up to $79,000 and a complex one can go to more than $150,000.
- Post-Creation Costs: Application development is not a very easy task. If you think, by looking at the above figures, that this is all what it takes to budget an application development process, then you might want to look at some other details as well. There are costs incurred even after the application is designed and developed by the app entrepreneur. The estimations by the Forrester further say that an average amount of money spent on the mobile application softwares ranges from $50,000 to $150,000. This, however, actually turns out to be only 35% of the true two-year cost. This means that a fairly large amount of money is required even after the app is floated into the market. This money is required for the development of the new and updated versions of the applications. It is because about 80% of the users update their apps twice a year and almost 33% of the users update at least once a month.
Prima facie, these figures might look to be very high in terms of monetary magnitude. But once the application is ready for use and is according to the market conditions and customer taste, it is surely going to give a lot of monetary benefit to its creator.