The mobile app market is growing at an incredible pace. It is estimated that there will be nearly 7 billion mobile app users by 2021. With such a large and growing market, it is no wonder that so many businesses are looking to develop their custom mobile app. 

However, before diving into custom mobile app development, it is essential to understand the actual cost of building a mobile app. This includes not only the financial cost but also the time investment. 

This article will take a detailed look at the cost of building a mobile app. We will also provide tips on saving money and time during the development process. 

The costs of building a mobile app 

Regarding the cost of building a mobile app, there are two main factors: development and ongoing maintenance costs. The development cost will vary depending on the app’s complexity and the development team’s experience. Generally speaking, a simple app can cost anywhere from $5,000 to $10,000 to develop, while a more complex app can cost upwards of $50,000. In addition to the development cost, there is also the cost of ongoing maintenance. This includes things like updates, security patches, and bug fixes. This cost can vary depending on how often the app needs to be updated, but it is generally a good idea to budget at least $500 per month for maintenance. The cost of developing and maintaining a mobile app can range from a few thousand dollars to tens of thousands per year.  

How to save money when building a mobile app 

One of the best ways to save money when building a mobile app is to use a low-cost development team. Gray Matrix is one such offshore development companies can provide high-quality development services at a fraction of the cost of a traditional development team. In addition, it is crucial to carefully scope the app before starting development. This will help to ensure that the app is developed precisely to your specifications and that there are no costly surprises along the way. Finally, consider using a hybrid development approach, which combines offshore development with in-house development. This can help to reduce the cost of development further while maintaining a high level of control over the process.  

To wrap up 

In conclusion, the cost of building a mobile app can vary depending on several factors. However, by carefully selecting a development team and scoping the project, you can save both money and time during the development process. 

When it comes to development, there’s always the pressure of finding ways to do things better, faster, and cheaper. Often, businesses want to get their product to market as quickly as possible and wonder if they can save money by building their mobile app instead of paying for custom mobile app development.  

While it is possible to develop your app, it’s not always the best solution. Unless you have a team of experienced developers, the process will likely take longer – and cost more – than you expect. Fret not! Gray Matrix is here to help you. Get in touch with us. 

We are always happy to answer any questions about our services if you need a team of developers, engineers, technical architects, and PMs. We can navigate the complexities of software design and the future growth of your product.