How Much Does IoT App Development Cost?

Dec 15

Posted by Pramesh Jain

The Internet of Things has grown in popularity over the previous few decades. It has converted robots into lifelike assets, and its influence is expanding by the day. Today, communication gadgets outnumber humans, and they make our lives more convenient and intelligent than ever before. So, if you're thinking of developing an IoT app and want to know how much it will cost, this article is for you.

Furthermore, research forecasts that by 2025, there will be around 21 billion linked gadgets. However, this isn't the only reason that IoT app development is growing in popularity; there are other reasons as well. It emphasizes every aspect of the cost of producing an IoT app.

Market Statistics of IoT App Development

In the next years, 65 percent of marketers feel that firms that do not have IoT-based apps would fall behind.
According to Gartner, there will be around 20 billion connected devices in 2020, which will more than quadruple by 2024-25.
Approximately 95% of decision-makers anticipate their companies to use IoT applications by the end of 2025.
The base installation for 5G IoT endpoints was 3.5 billion in 2020 and is expected to reach 49 billion by 2024.
By 2025, the number of internet-connected devices is expected to reach 28 billion.
These figures demonstrate the ever-increasing need for high-quality IoT applications, as well as their relevance in driving company development and productivity. So, now that you know why you should go into IoT mobile app development, let's get started.

Most Significant Applications Of IoT By Industry

IoT apps For the Retail Sector

IoT apps have a promising future in the retail business. Retailers are investing in IoT solutions, namely to track and manage the supply chain and inventory operations.The need for IoT-powered mobile apps for supply chain management tracking is increasing. Retailers can remotely monitor and measure certain areas of supply chain activities. Such an automated procedure will assure high-level security, lower operating costs, and improve business outcomes.

On the other hand, IoT is rapidly being integrated into the creation of mobile apps to track and manage stocks. Warehouse management or inventory management software based on IoT tracks stock levels digitally, assisting shops in balancing demand and supply and improving sales outcomes.

IoT Mobile Apps For Smart Home Automation

One of the key reasons for the increased demand for IoT mobile app development is smart home automation. Sensor-enabled smart home gadgets make people's lives more pleasant, convenient, easy, and intelligent. The incorporation of IoT in mobile apps allows users to operate all compatible smart home gadgets, such as LEDs, cameras, refrigerators, and so on, while on the road.

Here's a popular IoT app that allows users to control smart home devices from afar.

Amazon Alexa is an intelligence program that uses voice commands to operate smart home products. Users may use the Alexa mobile app to control switches, thermostats, and any Alexa-enabled smart electrical home products.

Applications Of IoT Technology For Healthcare Apps Development

IoT technology is quickly becoming a critical component of the healthcare app development market. IoT integration is becoming common in fitness applications, wearables, and other patient monitoring apps.

Yes. The development of IoT-based mobile apps for tracking and monitoring health is a market trend. As a result, the future of IoT mobile apps for smartwatches or wearables seems promising.

Leading enterprise-level software development firms, for example, are already on their way to providing futuristic IoT apps for wearables to measure pulse rate, body temperature, calories burned, sleep quality, steps walked, and so on. This information provided by sensor-equipped wearables is easily accessible via IoT smartphone apps.

What is the typical cost to build an Internet of Things app?

A typical Internet of Things app costs $20,167 to develop. The entire cost, however, might be as little as $5,000 or as high as $35,000. An Internet of Things app with fewer functionalities (also known as a "minimum viable product," or MVP) will be less expensive than an app with all planned capabilities.

For example, these are some current Crowdbotics Internet of Things app price quotes:

$27,500

$23,000

$10,000

However, the cost of IoT mobile app development or solution will be determined by a number of factors, including:

Types of applications that are long with the complicity
The cost of IoT app development is determined by the number of developers on your app application development team.
Depends on how long it takes to design, create, test, and post-develop an IoT app.
The cost of developing a mobile application varies depending on where you live. As an example:
South-East Asian custom mobile app development firms would charge between $20 and $40 per hour.
A mobile app development business in Eastern Europe will charge between $30 and $50.
The top mobile app development business in India would charge between $50 and $25 per hour.

IoT mobile application development is becoming popular due to the rising demand for IoT-based mobile apps from organizations across sectors. IoT app development has a promising future in areas such as automotive, healthcare, and smart home automation, as well as security.