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How IoT Applications are Transforming Industries?

From retail, manufacturing to agriculture and transportation, Internet of Things (IoT) has begun to make a loud influence especially over businesses that always seek opportunities to enter the niche market with competitive strength. Due to availability of connected objects and smart cities, industries can witness and analyze real-time information about business processes and ongoing operations.

No wonder IoT app development is burgeoning progressively. According to Business Insider , consumers, organizations and governments will have installed over 40 billion IoT devices by 2023. Among these early adopters would be government bodies and enterprises. The recent IoT Solutions World Congress held in Spain had many industry experts showcasing how IoT-enabled smart systems impact their business outcome.

The Internet of Things (IoT) will include 26 billion units installed by 2020. By that time, IoT product and service suppliers will generate incremental revenue exceeding $300 billion, mostly in services.

This implies that industries will rely greatly on the power of energy-efficient IoT sensors and IoT apps in connected network which is mobile and virtual, and built using cloud computing.

Here is how IoT is going to transform the major modern-day industries.

Smart Homes

With IoT, everything we knew and interacted with will change, including the way we live, work and exist in this world. By now, almost the entire consumer electronics world has experienced or known the power of smart home automation system in which domestic devices are connected over a network kept alive by Internet. Smart homes are prominent example of IoT app development, are built to make lives more convenient, easier and enjoyable as they offer you great control to customize and monitor your home environment with enhanced security and energy efficiency.

A research work by BI Intelligence, by 2020 approximately 200 million smart home devices will be shipped, including refrigerators, washing machines, TV, security system of alarm and cameras as well as energy equipment such as thermostats, lighting and heaters.

Amazon, Philips and Haier are already leading the consumer product landscape at the moment with Amazon’s Alexa voice assistant always ready to read you daily news headlines or play your songs on demand. Philips Hue is another example for smart home concept where a single bulb illuminates the space with 600-800 lumens. Its IoT capability is made compatible with Amazon Echo.

Manufacturing

One industrial sector IoT is massively impacting is perhaps Manufacturing. The industry’s current challenges can be cunningly tackled by sophisticated IoT apps and connected system as manufacturer’s factories are connected over a common network for enhanced performance, efficiency and maximized productivity.

As BI Intelligence predicts, global investment on IoT solutions in manufacturing sector is likely to touch $70 billion in 2020. In 2015, it was $29 billion.By installing sensors to existing equipment, Manufacturers can effectively apply IoT solutions to monitor moving and static equipment, optimize processes and execute predictive maintenance.

With IoT app development and IoT solutions in place, you can collect and analyze the system data from sensors and make machine operations more effortless and smooth. Operators can preempt possible breakdown or outage as they can foresee the repair or maintenance requirement of a machinery a little before it happens.

Not only factory assets are tracked accurately, but processes optimized with IoT can contribute to energy efficiency as well.

Agriculture

Agriculture is also going to experience the power of IoT. BI intelligence premium research estimates that agriculture industry will have nearly75 million IoT devices installed in 2020 which is greater than 30 million in 2015 – which will foster IoT app development even further.

John Deere for example is using sensors in its farming tractors and connecting them to internet so that farmers can access real-time data about their crop production. In the same way, they can monitor their livestock in the fields. Using advanced data analytics along with IoT sensors, farmers can even perceive the best optimal times to plant and grow crops for maximum production.

Healthcare

As Healthcare embraces IoT technology, the transformation will include making difference to business efficiency and enhanced patient care. The optimal health of medical equipment is of critical importance and should never be ignored. Healthcare IoT app development companycan build apps that connect medically used machines such as MRI and Heart Rate monitoring system and other machines to the internet so that the hospital staff can accurately predict when would be the time for repair.

For instance, if you can collect data off the connected devices and equipment sensors, you can measure the usage pattern for the machine being used and eventually predict its possible failure. By having the knowledge of when the repair is needed in advance, it is possible to keep the functioning of hospital operations intact.

Retail

Already, AI and AR have taken over Retail sector when imbued with digital commerce. But for IoT and IoT apps, retail might be a new dawn. Bluetooth beacons have empowered innovative retailers to finely reach their potential customers and enabledflawless communication with them on their personal devices using location-based services. Hence, in retail IoT, the transformation will have customers linking to the retailer’s app and receiving detailed information about selected products coupled with personalized discounts.

Transportation

Transportation industry claims second highest IoT investment. From supply chain logistics to self-driving cars and public transit, IoT solutions are used to bolster the transportation part for better business efficiency. Self-driving cars powered by IoT sensors have inspired a lot of curiosity and enthusiasm. Already, transportation has consumed $56 billion towards implications on IoT opportunities and applications.

With IoT apps, companies can connect their shipping vehicles with integrated sensors and monitor temperature, speed and other parameters to ensure the goods remain intact during the transit and reach the destination safely. Moreover, these sensors can also be planted in a public buses or goods trucks or mini trucks with supporting software to collect data that helps drivers control the vehicles with enhanced fuel efficiency.

Caterpillar is leveraging the power of IoT sensors and apps for industrial analytics and data collection. The company garners and processes the data collected from industrial engines, tools, machines, and share valuable insights with customers. Due to organized data analytics, customers can anticipate vehicle issues, reduce unnecessary downtime, predict maintenance and better manage fleets.

Thanks to evolving IoT app development, the future extension of such IoT solution could be IoT-connected infrastructure working in sync with connected vehicles to minimize traffic challenges and accidents.

Energy

IoT also stands strong for energy sector and is transforming the way companies do business. It can foster the concept of smart meters just like smart devices. PG&E is now beginning to use the power of IoT-enabled smart meters.

The electronic smart meters can be used to monitor a customer’s energy consumption and can also communicate the data with utility company’s central energy system. This two-way communication taking place between consumers and companies via smart meters can help companies predict present and future energy demand, power outages and schedule repairs.

Wearables

Wearables are showing a lot of prospects for tech market innovators as the technology is embraced by millions of people across the world. Due to massive scope of opportunities in IoT-connected wearable apps, Apple, Google and Samsung are hugely exploring the domain. Wearable IoT app developmentessentially involves devices covering health & fitness, sports, entertainment, commerce, news and more. The pro is that IoT sensors for wearables are quite small and consume minimum energy.

For instance, Motorola Moto 360 Sport wearable watch gives both Android and iOS users important health info, communication-related updates and gaming experience on their wrist with an elegant and sleek watch.

On the other hand, there is Charge HR, a smart IoT wearable device which automatically tracks your heart rate, sleeping patterns, workouts and other activities. It also gives you call notifications and synchronizes the data across almost all smart devices in use.

Final note

IoT apps and devices are bringing everything together through automation of every object we use. As new technological breakthroughs are made, IoT implementation and successive transformation will grow much faster and more secure. It will impact myriad aspects of our mundane life from smart home, offices to kitchen and parking spaces, improving many things integrated in digital world.

Every year, IoT app development companies and connected devices are multiplying in numbers, making Internet of Things a billion-dollar industry for future. However, to gain absolute benefits of these magnificent technologies, the global entrepreneurs needs a reputed IoT app development company courage to overcome existing barriers scattered along the path of industrial development.

The Future of Biometric Authentication in Mobile Banking

What is Biometric authentication ?

Biometric authentication a method of authenticating a persons individuality using your features mainly the fingerprint to logging you in an examination, an app, a tool or so on. This confirms your identity based on your body capacity and one additional thing added to this feature is that it utilizes the data to contrast you against a record and enters your data in a service as required.

Statistics are a part of the norm in the financial sector and what do financial institutions have to do to safeguard their customers and their businesses?

Technological change is impacting every aspect of life and it is evident with the increased dependence and use of mobile devices. As more information is generated and stored in the cloud, on computers and even mobile devices, it is important to safeguard personal information. But striking a balance between easy access and security can be a bit of a challenge for everyone.  It is not easy to remember more than five or six passwords at any given time.

In this digital age, the use of biometrics provides us with an efficient and user-friendly way of ensuring top-notch protection services. 

Consider this fact – global spending on Biometrics in the banking and financial sector is expected to cross $9 billion by 2024. 

Biometric use in the banking industry against a backdrop of fraud and security breaches is on the rise and a good development for many reasons. Things such as iris scans and fingerprints are unique to each person and offer the best possible security measure when compared to passwords. Passwords can be obtained by sharing, phishing and even hacking while biometrics signatures of an individual cannot be replicated.

Here are some reasons why biometric use is expected to transform the banking sector as well.

Simple: Experts suggest that people change their passwords frequently and use a combination of numbers and symbols for each account that they access. Most people use dates, names and other information which is easy to remember but can be hacked easily. Using biometrics can change this completely.

Higher security: News of data breaches has become very common and the increase in mobile devices is exacerbating the problem and will continue to do so, unless changes are made. Biometrics, while not fraud-proof, provides a larger measure of security. Mobile app development companies are working with authorities in the financial sector to devise multi-factor authentication which is easy to use and is also hack-proof.

Device-based: Biometric security elements like fingerprint and voice recognition can be developed to work on different devices. Switching completely to biometrics could isolate a number of customers, which is why banks use a hybrid approach. Using devices with a pin and an iris or fingerprint allows for higher accountability. Continued research is being done to make biometrics accessible and easy to implement, beyond devices.

Read also : App Development Cost- Design, Development, Deployment

Rising demand: Studies show that over 90% of customers in the financial sector want to use biometrics but so far only about 13% have implemented some features. Quite a few feel they don’t have -adequate experience or are confident in dealing with biometric security features as the requirements keep changing.

User experience: Enhanced security measures make consumers feel a lot safer and more amenable to adopting new technology as it keeps their money and personal data safe. On the flip side, adoption of such measures by banks and customers reduces the workload on banks to a large extent and is a great time saving measure. The transition to a cashless society is becoming a reality much faster than expected.

The need for biometric security has gone up a lot since the financial crisis of 2008. Many a mobile app development company is working on developing software applications in the financial and regulatory technology to not just automate compliance but also regulate activities at every level in the finance as well as other industry sectors too.

Image Source: IBM’s Future of Identity infographic

Some of the benefits to financial institutions include:

With the deployment and use of fingerprint technology and facial recognition systems on iOS and android phones, companies are investing time and money to explore cross platform app development with biometrics. Smartphones today use fingerprint recognition and this technology is easily integrated to unlock a banking app and authorize payments. This is very convenient and far more user-friendly than using passwords. Biometrics also help in safeguarding sensitive customer information from employees and prevents phishing. 

Trends to look forward to in 2019

Many more people are making the digital shift and using their phones to conduct banking related transactions. Over 50% of users are comfortable with the available authentication technology. According to projections, the biometric market is expected to touch $24.5 billion by 2023 and close to 2.6 billion users.  With cyber-criminals becoming more sophisticated and adjusting their tactics to breach databanks, regulators and software developers have to figure out what works best.

Here is a look at some of the trends which could take place during the next few years and how biometric technology will impact mobile banking in particular.

  • Other modalities like voice, heartbeat and facial recognition can be used as a part of the enhanced security process for a new and better user experience (UX).
  • PINs, passwords and touch ID will no longer suffice. Many institutions are considering various combinations to make it difficult for hackers to penetrate a firewall and gain access to personal information. Two or three factor authentication processes is under consideration. However,- it will be a while before current manual login processes will be phased out completely.

One important factor to consider is the security related to such systems. Whether it is for iOS app development or Android app development, templates are created and used to carry out authentication. These have to be encrypted end to end and information with regard to authentication keys cannot be saved or stored on the server or the device in use. Overall system security related to logins will depend on how secure a device is.

Surveys done after the implementation of biometrics for mobile banking has garnered positive reviews from customers.

Key takeaways are as follows:

Decreased login issues: By getting rid of frustration related to remembering passwords and the easy use of mobile banking apps, 86% of users are positively inclined towards biometrics. Over 20% of customers check their accounts and make payments with biometrics enabled on their accounts.

Familiarity and comfort: Consumers are also becoming aware of the need for security and biometric use is becoming a familiar presence. Since mobile users already have to scan their fingerprints to use their phones, the transition to apps to carry out tasks related to banking is not that difficult.

Trust: Biometrics also help in encouraging positivity towards brands which offer the latest technology and security to their customers. More than 75% of users are in favour of biometrics and are of the opinion that their information is more secure.  These users are also comfortable trying out new technology if it keeps their information safe.

Latest Reports

According to reports shared by Spiceworks, approximately 90% of global businesses will adapt to biometric authentication technology in some form by the year 2020. Current data suggests that almost 62% of businesses worldwide have already migrated to biometrics. Regardless of the ascending trend in biometric technology, the financial sector is still trailing behind other industries.

There is no doubt that biometric technology is not just powerful, but it is also disruptive. Millions of customers have eagerly embraced this technology to keep their data and money safe. Biometrics also offer a good balance between security and convenience.  Whether one uses mobile apps or ATMs, transactions can be carried out from anywhere, any device and at any time.  It eliminates the need for passwords and no special equipment is needed to carry out transactions.

Thanks to technology and a more connected world, biometrics are not only effective but also a sustainable method to prove identity.  Biometric technology is expected to become more accepted and popular. It would be interesting to see what will develop in the future and how technology will evolve to address banking and customer security needs.  It will also be interesting to see how app development companies develop software for each issue and how changes will be implemented in the foreseeable future.

Must-Have Features in Real Estate App Development

Home sweet home is the ultimate wish of every human being living in a civilized setting. But finding a proper accommodation that incorporate all your needs gets a little tricky. In the era of digital transformation, you can now easily navigate through dedicate mobile apps that take away your headache of finding a home. In fact, the number of people opting for real estate mobile apps for property searching is ascending as the use of Smartphones is becoming infectious.

There are already a handful of apps in real estate that are doing great, including Zillow, Trulia, Realtor.com, Apartment Guide, LoopNet. Zillow has emerged as a leader in online real estate service providers in USA with 36 million monthly visitors. If you are planning make your real estate mobile app to reach global customers, you need distinctive features.

Here is the round-up of those must-have features to develop real estate app.

For users’ panel

1) Register and Login

The primary requirement of any service-based mobile app is registration and login process done using verified email and personal phone number. Alternatively, a valid social media account on Twitter, Facebook or Google+ also confirms access to real estate app.

2) The User Profile

Once getting registered, users will be able to create their profile using a secured code code sent to your email or phone number. Then complete the profile by adding details including your age, name, address, seller/buyer interests, etc.

3) Filter Search

Refinement increases speed of search. Let customers discover what they want through advanced search options that filter and refine property search to clients’ needs.

4) Favorites list

This feature, like most ecommerce apps, is where you can add selected properties to later compare and pick the best features out of it which else needs to be changed

5) View options

For making property viewing more organized and user-friendly, real estate app presents the options of list view and map view using which users can mark their favorites.

6) Property information

Adding property Videos and images are effective, but you need strong information content to convince the customers through undeniable value propositions. Your app should contain info section to describe various aspects of listed properties including total square area, amenities, number of rooms, bath space and other decisive details.

7) Real-time messaging

Offering real-time message facility is a trend fanatically instigated by service and on-demand apps. The direct and fast conversation right inside the app with property dealers and owners liberates you from asking for contact numbers. It is important, however, to ensure the message service works as usually expected by inquirers.

8) Interest rate calculation

Property dealing apps come with inherent features that enable customers to calculate interest in real time. With this feature, customers can easily count estimate figure of installments with interest, tax and insurance premium.

9) Property listing

If it is a marketplace app, users should be able to conveniently list the property when they decide to rent or sell it at a fixed price.

10) AR/VR showcase in 3D

If you want to make the app more compelling and distinctive in real estate market, why not build a feature that showcases 3D design of properties for enhanced viewing? You may use rising innovations such as AR/VR to exhibit a three dimensional structure of homes. Clients will get a lucid, thorough idea of how property actually looks and feels. This not only makes the search easier but more precise, where property agents also seize a high profit margin.

11) Adding Maps and Geo-location

A feature that can’t be skipped, Maps and geo-location are an integral feature especially for real estate business. By means of geolocation, users, especially those who are unfamiliar with city geography, can locate the property exactly and also search property in the neighborhood of their choice. This feature significantly benefits sellers equally, and therefore developers must develop it meticulously.

12) Loan Facility

This could be your winning advantage among other competitors as the feature of loan facility helps property buyers learn about and sign up for loan services right in your app.

13) Currency Converter

Users can view the real price of the favorite property in the currency they usually use in their country. Also, it allows them to see the price in any currency they wish.

14) The Brokers info

The app lets customers get in touch with the broker of their choice with ease using their contact details and quickly settle the deal.

15) Discounts and Offers

Service apps would be incomplete if it does not offer riveting discounts to customers. The mobile app should give users an access to best available offers and exclusive discounts in place so that they can select the ideal residential property that best matches their budget.

16) Social Media Platforms

Acquiring more users means adding what they want most in service apps. Add social media sharing platforms (Facebook, Instagram, WhatsApp, etc) to your app to target a huge spectrum of customers.

For Admin panel

1) User management

The app should be governed by the central system of admin that takes over managing both buyers and owners or brokers.

2) Property Details updates

Apart from user management, it is essential to update property details correctly in the app which includes approving and disapproving properties to be listed. The admin can control whether to add or remove a property from the list.

3) Adding Discounts and Offers

The admin can decide what offers, discounts and loyalty rewards can go inside the app, and when.

4) Revenue management

This feature helps admins manage the revenues earned through all property deals, subscriptions and commissions from time to time.

5) Addition and removal of subscriptions

Admin has the sole right to add, remove and manage offered subscriptions on the property list.

Conclusion

The real estate marketing is booming globally. It is therefore the right time to dive into the market with a beautifully designed, high-quality mobile app to dominate the industry. Filled with a promise of scalability and usability, the real estate app enables customers to get all the information regarding properties in one single place.

However, to make it grand, the app must have dazzling features from searching ideal home and listing to renting and contacting brokers. You may fancy the idea of partnering with an expert real estate mobile app development company who has exceptional grasp on developing advanced features and capabilities and how real estate business works.

Reasons Why Enterprise Needs a Mobile App

We often hear that having a smartphone app is key to growing business and getting an edge over the competition. But the question is, is it just a vivid notion created to lure business entrepreneurs into developing a customized mobile app? Of course, the fact that the number of mobile apps on both Google Play and Apple’s App Store is burgeoning speaks of mobile app development companies strenuously helping enterprises meet their biggest fortune. Technological advancements are playing an epic role, encouraging even a corner coffee shop or beauty salon to float in the app store out there!

But again, does every enterprise need to build a dedicated mobile app in taut app stores? Surely, mobile apps do not just benefit brands like Walmart, Domino’s, Nike and Bank of America. Many startup companies have successfully ventured into Android and iOS app development even when they might have simply settled for a plain mobile website. If you are one of those wanting valid answer to the need for enterprise apps, we present you a few good reasons that make a tailored business app a superior choice over websites.

Visibility, Availability and Accessibility

For those who seek concrete truth, Statista declared that the number of global smartphone users in 2017 is predicted to reach 2.32 billion in 2017. Statista also shows that an average American spends over two hours a day on their mobile device. With such colossal spread of mobile devices and app usage, it is evident that users do engage and interact with what they like in store. Even if not all apps find a spot on user’s device, users would notice your company’s app (image and design), often unconsciously, as they scroll to their favorite one. This gives you an advantage of being visible and available.

Marketing Opportunities

A mobile app development company can create app with appealing UI and delightful UX, serving gamut of functions such as general product info, company profile, pricing and quality propositions, features, forms, messenger, accounts and news. With mobile app, it is feasible to keep all the customer-centric details about sales and promotions right there in the app. You can use push notifications to instigate direct interactions and remind customers of latest deals on products and services. Sending message with a link to app also makes sense. Thus, you gain tons of marketing opportunities.

Significant Value Addition For Your Customers

Mobile app should be worth the moments invested by your customers. In fact, don’t you think giving your existing loyalty programs a digital shape via an app? No longer should you prefer an archaic point collection system. Instead, allow your customers to use mobile app where they can collect and manage their progressive rewards. Customers would hugely appreciate this and respond to your value-added service with more downloads, loyalty and recurrent app usage.

Starbucks – The world’s top renowned coffee brand has set up an outstanding epitome of impeccable mobile app development. Starbucks redefined mobile marketing and adding value to customers’ life by enabling customers to enjoy convenience of ordering and paying for the drink using mobile app. The effort has not only made their business more popular, but it also changed the way coffee is customized. Within the app, users get suggestions on the nearest store and eventually create and order their unique drink with just a few taps.

Brand Building and Awareness

As you switch from single-app approach to cross-platform app development,you will realize how your mobile app can sweep through massive amount of user across different OS. More customers will prudently translate into increased level of brand awareness – which is your target at times of brand building phase. Since your enterprise app acts as a bridge between business and customers, you can enhance its elements by making it more stunning, stylish, fun, informative and user-friendly with features customers will quickly embrace.

On the other side of brand building, iOS and Android app development also gives you an opportunity to engage user in no time and rapidly develop an environment where effortless purchase of products and services is ensured. Even if it is built to deliver important business information, customers will find it handy to know, see or hear about your brand through app and eventually buying from other available business channels.

Customer Engagement + Support

There is no doubt mobile app provides you the way to engage and interact virtually with customers. Customers also find it smooth to reach you and express their requirements and opinions through their entire journey and feedback. Having a help and support feature (chat messenger) within your app thus helps establish honest communication flow. An enterprise mobile app development company can even make use of intelligent technology for chat which makesyour app work both ways: Support as well as service booking.

Fostering Better Knowledge About Your Audience

Mobile app not only develops a better business model around digitalization for your enterprise, but it also adds value to the way you reach and cater to your customers. By integrating powerful analytics with the help of a mobile app development company, you can trace user journey in your app and collect important information about customers that can be used to serve them even better. This data means even deeper insight into the target audience, their habits, trends, main customer segments, requirements, sources and more. Use it to build more customer-friendly, innovative products/services.

Growing More Competitive

The biggest leap small businesses can take is having a mobile app development company build an app solely due to the fact that small business mobile apps are still scarce. This means beating the competition while the market is still incipient for digital authorities in your niche. Local businesses can astonish customers by offering exclusive services on your mobile app. Through real-time engagement and lively marketing, your business will be appreciated. Plus, you will also save tons by choosing app as a primary internet marketing and promotion channel. With a futuristic solutions used flawlessly, your small business app can receive an acclaimed boost even on aglobal scale.

L’Oreal Makeup GeniusL’Oreal is a leading makeup and beauty brand that basks in its glory with an appcalled L’Oreal Makeup Genius. What sets it apart from other rivals is its ability to deliver ad-free shopping experience and inspire users to think of a purchase as they try on the new products using nothing but their Smartphone. The Genius also enables users to share the experience on social networks – which is magnificent.

Multi-Channel Business Approach

Adopting a cross-platform app development approach opens many doors to create business opportunities across multiple channels. To sustain the competition, it is important for businesses to build a digital presence where customers can interact with your brand in many different ways including chat, videos, feedback support and shopping activities. The mobile app can integrate social media engendering an all new channel of communication for customers. Moreover, mobile app also enables order management, behavior analysis, service quality improvement, loyalty and more complex operations. All you need is a powerful CRM which integrates all marketing & communication channels and customer details for making the business more streamlined and productive.

Unforgettable Perk: Monetization

You can’t ignore this fascinating perk that mobile app development offers: Monetization. As your business app grows popular, you begin to reap consistent revenue by applying many trending in-app purchases or premium features. Certain innovative features and facilities such as third-party ad system within your app help drive a steady flow of money. All you need is a well-designed, simple and feature-rich app that has everything customers seek today.

Wrapping Up

There is no resistance in believing that certain futuristic technologies like IoT, AI (Artificial Intelligence), ML (Machine Learning) and AR have together made the dynamics of mobile app development even more glorious and profitable than ever. The reality of IT’s smart solutions show that enterprise businesses gain enormous edge over competition and better ROI by investing in a mobile app launched even in an overcrowded market if it offers unique value to customers. Mobile app could be a game changer if you have not tried it so far. Explore your options for building a mobile app of superior quality by consulting a versed enterprise mobile app development company.

App Development Cost- Design, Development, Deployment

2019 started with Apple’s iTunes store totalling an app count of approximately 2.2 million. The Android play store accounted for around 2.8 million apps on its platform. Both Apple and Android are expected to double, if not quadruple their app counts in the next two years.

With one quick glance that the current statistics of these two app stores one identifies that together, both platforms are holding on to apps with a combined valuation in millions of dollars. This indicates the pace at which the mobile app economy is growing and expanding. With the demand quotient at an all time high for mobile apps, app developers are now more open to trying out new concepts in mobile apps, with innovative features which will eventually offer the brand tangible value, make it popular and help in generating revenue.

This brings us directly to the question of how the demand for mobile apps is impacting its cost of design, development and deployment.

Factors Impacting the Cost of App Development

Although there is no standardized formula that is able to accurately estimate the generic cost of app development, one rule that most app developing organisations tend to follow is:

(App Feature X Time) X Hourly Rate = App Development Cost

An approximate estimate of the number of hours that may be required to build an app:

Apart from the number of hours, the location of where the app is being designed and developed also plays a critical role in determining its cost.

Let’s take a look at a country-wise average cost of developing a mobile app:[

The next factor that can also influence the cost of the mobile app is – ‘the who’ – which basically is dependent of the size of the firm that is developing the app.

Thus, the factors that influence the pricing of developing the app can be categorised under:

Discovery or Pre-Planning

  • App Purpose
  • App Platform

Design

  • Visual Complexity

Development

  • Hardware Features
  • Technical Complexity
  • Data Storage on the App
  • Points of Integration
  • App Security

Testing and Deployment

  • App Testing
  • App Deployment
  • Legalities and Licensing
  • Support and Maintenance

Discovery or Pre-Planning

Before your app development team embarks on the Visual Design stage, the initial foundation that lays the ground work is basing the app having thoroughly researched the marked with multiple brainstorming sessions. Typical questions that need to be answered at this juncture are:

  • The aim and objective of developing the app
  • Target audience
  • Platforms where you wish to stage the app
  • If the app is going to be available free or cost or paid

At the Pre-Planning or Discovery Stage, the cost is estimated to be approximately in the range of:

Cost range less than $5,000 $5k – $10k $10k-15k $15k-25k $25k+
Percentage 51% 22% 7% 7% 13%

Visual Idea to Development Handoff

As the teams developing the app move towards the Visual Design stage, only 32% tend to spend less than $5000. However, around 9% may venture to assign a budget of over $50,000 on the app’s visual design. The majority at 60% vacillate between $5000 and $50,000 budget.

The estimated cost of the design phase may be:

Cost range less than $5,000 $5k – $10k $10k-15k $15k-25k $25-50k $50k+
Percentage      32% 17% 14% 13% 16% 8%

The Visual design of the App is divided in two key phases: User-Experience Design and User-Interface Design.

User-Experience design simply put is the mobile user experience (UX) design that provides a series of designs aimed to generate positive experiences during the usage of mobile devices. Critical elements form a part of the overall UX, including:

  • Information Architecture is a process that assists in the decision to select the type of data and functionality that will be represented and organised within the mobile application – in layman’s terms – a list of features that the app needs to perform along with what will be visually displayed on the screen. This is the foundation of the app upon which the wireframes will be based upon.
  • Wireframes is typically designing the screens along with the assigning of functionality and data.
  • Workflows are about designing the routes through which the users are able to navigate on the app.

User-Interface design or UI involves the graphical and touch sensitive display on a mobile device. It allows the user to understand the features, content and functionality of the app through a series of interactions. The key elements of UI design include:

  • Style Guides that are the building blocks of the overall app design, impacting its usability.
  • Rendered designs is basically the process of adapting the wireframes and substituting the greyscale components with the chosen components of the style guide.

Post the design phase, most apps at this stage will undergo some form of testing before being handed off to the development team for further enhancements and realising the overall vision of the app.

App Development

The app will go through a number of phases as your development team proceeds towards building the backend of the prototype. Let’s take a look at the key phases:

  • Alpha phase is the stage where the core functionality of the app is present; but it is yet to undergo testing. Generally, the app at this phase has multiple bugs and the non-core functionalities of the app are absent.
  • Beta phase is the stage where the majority of proposed functionalities and features have been integrated into the app. Some light testing and bug fixing are usually performed. However, issues may still exist. The app, at this phase may be released to a select group of external uses for more intensive testing.
  • Post Beta phase is the stage where although the bugs have been fixed, the app is ready to be shifted to the release candidate stage.

The team, in order to release the app should have set up developer accounts on app stores where the app in intended for publication.

It is important that you take into consideration several key factors including multi-tasking, form factor, device and OS fragmentation. Incorporating functionalities and features is going to be pointless unless you ascertain that the app is indeed compatible with the majority of smart phones.

Since the development stage is a critical aspect of the entire app development procedure, it is important to know what you may encounter in terms of costing at this phase.

Cost
  Range
less than $5,000 $5k – $10k $10k-20k $20k-30k $30k+
Percentage            9% 33% 25% 17% 15%

Launching the App

Before launching the app, there are two stages – testing followed by deployment.

  • App Testing often is a good idea while going through multiple processes of developing the mobile app. Adhering to this form of checking aims to keep the costs under control as bug fixing can be an expensive affair as your app goes deeper into the development cycle. Always refer to the original design and development plan whilst structuring the test cases. Re-test even cleared features and functionalities prior to the launch.

Testing phase should typically include the following:

  • Usability testing
  • Compatibility testing
  • Interface testing
  • Services testing
  • Low level resource testing
  • Performance testing
  • Operational testing
  • Security testing

Deployment of the app may be done by selecting a day to formally launch the app by publishing it on the various app stores. Do bear in mind that the app stores will abide by their individual policies for launching the app. By publishing the app does in no way signify that the journey of app development has ended. In fact, this is the start of the post launch phase where the app will require continuous support and maintenance once it is in the hands of the end users.

With feedback pouring in, you may require new features and functionalities to be developed, bug fixing on a regular basis, etc. To ensure that the future versions of your app is catering to the demands of your target audience, have adequate resources ready to maintain the product.

The estimated cost for testing and deployment may be approximately:

Cost range less than $5,000 $5k – $10k $10k-15k $15k-25k $25k+
Percentage 32% 31% 14% 12% 11%

The most important thing to remember when building the mobile app that whilst you may have invested funds in a digital product, the commitment towards it has to be long-term.