What percentage of bloggers offer mobile apps?

How complex is it to develop a mobile app?

Mobile apps have started a supposed triumph in banking too. How much time do you actually have to estimate for the development of a mobile app and how expensive is it? Two infographics provide an overview.

Mobile apps are conquering the smartphone and are also widespread in banking

The phrase "There's an app for that" has long since become the catchphrase and the basis for numerous jokes and comments. There is even a dedicated website for it. What many do not know, Apple used the phrase as a trademark in the U.S. Register the Patent and Trademark Office.

The triumph of mobile apps paints the wrong picture

So it's no wonder that mobile apps have also triumphed in banking. After all, according to a survey last year, 48 percent of the participants use a banking app or plan to do so in the future.

However, many banks and savings banks still believe that a mobile app is, as it were, the center of digital transformation. However, this is just as wrong as the assumption that it is enough to develop a great app for customers to use it. A few facts show this quickly:

And above all: Consumers first have to find and download an app in order to use it.

What does it cost to develop an app?

Nevertheless, mobile apps are an important tool for making digital banking available to customers on mobile devices. As a result, it is interesting to know how much it costs to develop an app and how long it takes.

According to a study for the United States, 56 percent said it takes anywhere from seven months to over a year to develop an app, with an average development cost of US $ 270,000. According to a Forrester study, however, development costs are only 35 percent of the cost of an app in the first two years. In addition, there are, for example, expenses for marketing, extensions and updates, support and other things.

Procedure for developing an app

The first infographic gives an overview of the procedure and the costs involved in developing a mobile app. According to this, it takes an average of 18 weeks to go through all the necessary process steps for developing a mobile app.

Effort and necessary process steps for developing a mobile app

The second infographic describes the necessary steps and costs as well as revenues from mobile apps. The different costs in individual countries are also discussed. It also contains interesting information on the further development of this interesting market.

Costs, revenues and development prospects for mobile apps